Nortel Networks

TeleCable, Nortel Provide Cajastur Savings Bank with Secure Private Network

    Madrid, Spain (ots/PRNewswire) -

    - Single Network Carries Bank's Data, Voice, Video and Internet Access    Communications Across 100 Locations

MADRID, Spain, May 30 /PRNewswire/ --

    Spanish telecommunications provider TeleCable is supplying Cajastur, a  large regional savings bank in Spain, with Nortel(x) (NYSE: NT , TSX: NT)  technology and services to securely connect its 100 bank offices across  three major cities in the Asturias region.

    The new network will deliver cost-savings on critical communications  such as Internet banking and gives the bank the flexibility to evolve its  communications to meet future demand for the bank's services. The solution  uses a single converged network, based on Nortel's Ethernet Virtual Private  Network (VPN) technology, to support all Cajastur's communications, and  includes installation, commissioning, integration and technical support  services from the Nortel Global Services portfolio.

    "The communications solution provided by Nortel and TeleCable meets  Cajastur's critical requirement of highly secure and reliable communications to support customer transactions," said Roberto Paraja,  president, TeleCable. "Also, the continuing close working relationship  between Nortel and TeleCable meant that we were able to jointly define and  understand the bank's communications needs and create a cost-effective  network solution."

    Building on the successful deployment of the Cajastur network, TeleCable plans to offer Ethernet VPN services to other major business  customers in Spain's Asturias region.

    "This new banking deployment is a good example of how Nortel and TeleCable are collaborating effectively on network communications projects  across Spain," said Michel Clement, president, Southern Europe. "The Nortel  Metro Ethernet solution is a secure and reliable technology for creating  Ethernet VPNs that enable business users to cost-effectively support all  their voice, video and data services on a single converged network  infrastructure.

    Ethernet VPNs are a cost-effective and flexible solution for connecting  customer locations. By simply extending the Ethernet from the local area  network (LAN) standard to the wide area network (WAN), multiple TeleCable  customer locations, such as Cajastur's 100 bank offices, can be connected  through VPNs based on native Ethernet technology.

    The Cajastur Ethernet VPN, supplied by TeleCable, is based on carrier-  grade Ethernet technology. The technology provides high levels of network  security and reliability, critical for business continuity, with features  such as sub 50 milliseconds protection switching, traffic prioritisation  and service demarcation.

    The network is based on Nortel's Metro Ethernet portfolio, including  the Metro Ethernet Routing Switch 8600 and Metro Ethernet Services Unit  1800/1850. The Ethernet-based infrastructure is operated over an optical  network using Nortel's Optical Metro 5000 platform. The optical network is  critical for providing the reach and capacity to connect multiple locations  across the Asturias region of Spain.

    Nortel's Global Services include a full range of integrated services  for design, deployment, management and maintenance of end-to-end multi- vendor network solutions, including seamless migration to next generation  technologies.

    About Nortel

    Nortel is a recognized leader in delivering communications capabilities  that enhance the human experience, ignite and power global commerce, and  secure and protect the world's most critical information. Our next- generation technologies, for both service providers and enterprises, span  access and core networks, support multimedia and business-critical  applications, and help eliminate today's barriers to efficiency, speed and  performance by simplifying networks and connecting people with information.  Nortel does business in more than 150 countries. For more information,  visit Nortel on the Web at For the latest Nortel news, visit

    Certain statements in this press release may contain words such as " could", "expects", "may", "anticipates", "believes", "intends", "estimates ", "plans", "envisions", "seeks" and other similar language and are  considered forward-looking statements or information under applicable  securities legislation. These statements are based on Nortel's current  expectations, estimates, forecasts and projections about the operating  environment, economies and markets in which Nortel operates. These  statements are subject to important assumptions, risks and uncertainties,  which are difficult to predict and the actual outcome may be materially different. Although Nortel believes expectations reflected in such forward- looking statements are reasonable based upon certain assumptions, they may  prove to be inaccurate and consequently Nortel's actual results or events  could differ materially from its expectations set out in this press release . Further, actual results or events could differ materially from those  contemplated in forward-looking statements as a result of the following (i)  risks and uncertainties relating to Nortel's restatements and related matters including: Nortel's most recent restatement and two previous restatements of its financial statements and related events; the negative  impact on Nortel and NNL of their most recent restatement and delay in  filing their financial statements and related periodic reports (including  the anticipated delay in filing the Quarterly Reports on Form 10-Q for the  first quarter of 2006) causing them to breach their public debt indentures  and, if the delay extends beyond June 15, 2006, their obligations under  their credit facilities, with the possibility that the holders of their  public debt or NNL's lenders would seek to accelerate the maturity of that  debt, and causing, if the delay extends beyond June 15, 2006, a breach of NNL's support facility with EDC with the possibility that EDC would refuse  to issue additional support under the facility, terminate its commitments  under the facility or require NNL to cash collateralize all existing  support; legal judgments, fines, penalties or settlements, or any  substantial regulatory fines or other penalties or sanctions, related to  the ongoing regulatory and criminal investigations of Nortel in the U.S.  and Canada; any significant pending civil litigation actions not  encompassed by Nortel's proposed class action settlement; any substantial  cash payment and/or significant dilution of Nortel's existing equity  positions resulting from the finalization and approval of its proposed  class action settlement, or if such proposed class action settlement is not finalized, any larger settlements or awards of damages in respect of such  class actions; any unsuccessful remediation of Nortel's material weaknesses  in internal control over financial reporting resulting in an inability to  report Nortel's results of operations and financial condition accurately  and in a timely manner; the time required to implement Nortel's remedial  measures; Nortel's inability to access, in its current form, its shelf  registration filed with the United States Securities and Exchange  Commission (SEC), and Nortel's below investment grade credit rating and any  further adverse effect on its credit rating due to Nortel's restatement of its financial statements; any adverse affect on Nortel's business and market price of its publicly traded securities arising from continuing  negative publicity related to Nortel's restatements; Nortel's potential  inability to attract or retain the personnel necessary to achieve its  business objectives; any breach by Nortel of the continued listing  requirements of the NYSE or TSX causing the NYSE and/or the TSX to commence  suspension or delisting procedures; any default in Nortel's filing  obligations extending beyond July 15, 2006 for the 2006 First Quarter Form  10-Qs, causing any Canadian securities regulatory authority to impose an  order to cease all trading in Nortel's securities within the applicable  jurisdiction or to impose such an order sooner if Nortel fails to comply  with the alternate information guidelines of such regulatory authorities; ( ii) risks and uncertainties relating to Nortel's business including: yearly  and quarterly fluctuations of Nortel's operating results; reduced demand  and pricing pressures for its products due to global economic conditions,  significant competition, competitive pricing practice, cautious capital  spending by customers, increased industry consolidation, rapidly changing  technologies, evolving industry standards, frequent new product  introductions and short product life cycles, and other trends and industry  characteristics affecting the telecommunications industry; any material and  adverse affects on Nortel's performance if its expectations regarding  market demand for particular products prove to be wrong or because of  certain barriers in its efforts to expand internationally; any reduction in  Nortel's operating results and any related volatility in the market price  of its publicly traded securities arising from any decline in its gross margin, or fluctuations in foreign currency exchange rates; any negative  developments associated with Nortel's supply contract and contract  manufacturing agreements including as a result of using a sole supplier for  key optical networking solutions components, and any defects or errors in  Nortel's current or planned products; any negative impact to Nortel of its  failure to achieve its business transformation objectives; additional  valuation allowances for all or a portion of its deferred tax assets;  Nortel's failure to protect its intellectual property rights, or any  adverse judgments or settlements arising out of disputes regarding  intellectual property; changes in regulation of the Internet and/or other  aspects of the industry; Nortel's failure to successfully operate or  integrate its strategic acquisitions, or failure to consummate or succeed  with its strategic alliances; any negative effect of Nortel's failure to evolve adequately its financial and managerial control and reporting systems and processes, manage and grow its business, or create an effective  risk management strategy; and (iii) risks and uncertainties relating to  Nortel's liquidity, financing arrangements and capital including: the  impact of Nortel's most recent restatement and two previous restatements of  its financial statements; any acceleration under their public debt  indentures and credit facilities, which may result in Nortel and NNL being  unable to meet their respective payment obligations; any inability of Nortel to manage cash flow fluctuations to fund working capital requirements or achieve its business objectives in a timely manner or obtain additional sources of funding; high levels of debt, limitations on  Nortel capitalizing on business opportunities because of credit facility  covenants, or on obtaining additional secured debt pursuant to the  provisions of indentures governing certain of Nortel's public debt issues  and the provisions of its credit facilities; any increase of restricted  cash requirements for Nortel if it is unable to secure alternative support  for obligations arising from certain normal course business activities, or  any inability of Nortel's subsidiaries to provide it with sufficient funding; any negative effect to Nortel of the need to make larger defined  benefit plans contributions in the future or exposure to customer credit  risks or inability of customers to fulfill payment obligations under  customer financing arrangements; any negative impact on Nortel's ability to  make future acquisitions, raise capital, issue debt and retain employees  arising from stock price volatility and further declines in the market  price of Nortel's publicly traded securities, or any future share  consolidation resulting in a lower total market capitalization or adverse  effect on the liquidity of Nortel's common shares. For additional information with respect to certain of these and other factors, see the  Company's Annual Report on Form 10-K/A and NNL's Annual Report on Form 10-K  and other securities filings with the SEC. Unless otherwise required by  applicable securities laws, Nortel disclaims any intention or obligation to  update or revise any forward-looking statements, whether as a result of new  information, future events or otherwise.

    (x)Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks.

ots Originaltext: Nortel Networks
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