Monty Solomon (monty@roscom.com) Wed, 1 Jun 2005 21:21:26 -0400

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Nortel Reports Results for the First Quarter 2005; Financial Reporting is Now Current; Nortel Provides Status Update TORONTO--(BUSINESS WIRE)--June 1, 2005--Nortel Networks Corporation (NYSE:NT) (TSX:NT): -- Q1 2005 revenues of $2.54 billion, up year over year 4 percent -- Q1 2005 net loss of $49 million, ($0.01) per common share on a diluted basis -- Q1 2005 cash balance of $3.43 billion Nortel Networks Corporation (NYSE:NT) (TSX:NT) today reported results for the first quarter 2005 prepared in accordance with accounting principles generally accepted in the United States in U.S. dollars. As previously reported, commencing with the first quarter 2005 results Nortel's new reporting segments are GSM and UMTS Networks, Carrier Packet Networks, Enterprise Networks and CDMA Networks. - http://finance.lycos.com/home/news/story.asp?story=49550946

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