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Nortel Networks

/C O R R E C T I O N -- Nortel/

Toronto, Canada (ots/PRNewswire)

In the news release, "Advisory
- Nortel Business Update Teleconference"  issued on 11 May 2006 17:49
GMT, by Nortel NYSE:NT over PR Newswire, we are  advised by a
representative of the company that an error occurred in the  "Where"
section of the release. The phone numbers provided should have  read
"North America 1-888-211-4395" and "International +1-212-271-4505"
and  not "North America 1-800-681-7958" and "International
+1-212-231-6020" as  originally issued inadvertently. Complete,
corrected release follows:
    Advisory - Nortel Business Update Teleconference
    8:30 a.m. Eastern Time
    Tuesday, May 16, 2006
 www.nortel.com
    What:     Nortel will host a teleconference/audio webcast with the
              investment community.
    Who:      Mike Zafirovski, President and Chief Executive Officer
              Peter Currie, Executive Vice President and Chief Financial
              Officer
              Terry Glofcheskie, Vice President Investor Relations
    When:     8:30 a.m. ET, Tuesday, May 16, 2006
    Where:    To participate via the teleconference, please call the
              following numbers at least 15 minutes prior to the start of the
              event.
                 -  North America 1-888-211-4395
                 -  International +1-212-271-4505
              To participate via the audio webcast, please visit the
              following webpage at least 15 minutes prior to the start of the
              event. http://www.nortel.com/businessupdate
    Replay:   You can listen to the replay at:
                 -  North America 1-800-383-0935
                    Passcode: 21290984 followed by the number sign.
                 -  International +1-402-530-5545
                    Passcode: 21290984 followed by the number sign.
              Audio webcast replay:
              http://www.nortel.com/businessupdate

Contact:

For further information: Investor Relations - (888)-901-7286,
+1-(905)-863-6049, investor@nortel.com; Media Relations - Patricia
Vernon, +1-(905)-863-1035, patricve@nortel.com

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