Nortel Networks - Delisting of Shares from VSE

RNS No 3252h
NORTEL NETWORKS CORP
30 July 1999


NORTEL NETWORKS TO DELIST ITS COMMON SHARES FROM THE VANCOUVER STOCK EXCHANGE

Brampton, Ontario, - Nortel Networks (NYSE/TSE: NT) today announced that the
Vancouver Stock Exchange has accepted Nortel Networks' formal application to
delist its common shares from the Vancouver Stock Exchange. The delisting is
to take effect at the close of trading on July 30, 1999.

Nortel Networks' application to the Vancouver Stock Exchange sets out three
reasons for delisting. First, in the past five years, only a small number of
Nortel Networks common shares have traded on the Vancouver Stock Exchange.
Second, in North America, the listings of Nortel Networks' common shares on
The Toronto Stock Exchange, the Montreal Exchange and the New York Stock
Exchange provide sufficient ongoing liquidity to Nortel Networks'
shareholders. Third, earlier this year, the Vancouver Stock Exchange
announced its intention to merge with the Alberta Stock Exchange to form a
national junior market.

''Given the low trading volume on the Vancouver Stock Exchange and the other
factors mentioned in our application, the cost of maintaining the listing has
exceeded its benefits,'' said John Roth, vice-chairman and chief executive
officer, Nortel Networks.

Nortel Networks delivers value to customers around the world through Unified
Networks solutions, spanning mission-critical telephony and IP-optimized
networks. Customers include public and private enterprises and institutions;
Internet service providers; local, long-distance, cellular and PCS
communications companies, cable television carriers, and utilities.

Nortel Networks' common shares are listed on the New York, Toronto, Montreal
and London stock exchanges. Nortel Networks had 1998 revenues of US$17.6
billion and has approximately 76,000 employees worldwide.

Contact: Investor Relations: Angela McMonagle, Nortel Networks +1(905) 863-
6044, mcmona(at)nortelnetworks.com; Media Relations: Jeff Ferry, Nortel
Networks, +1(703) 712-8339, jferry(at)nortelnetworks.com; Or visit Nortel
Networks' website at www.nortelnetworks.com; Archived images on this
organization are available through CNW E-Pix at www.newswire.ca. Images are
free to members of The Canadian Press./


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