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April 26, 2001

Lynton R. Wilson Becomes Nortel Networks Chairman of the Board

Frank C. Carlucci Retires as Chairman

CALGARY, Alberta – Nortel Networks* [NYSE/TSE: NT] announced the appointment of Lynton R. (Red) Wilson as its non-executive chairman of the board. Wilson replaces Frank Carlucci, who has served as chairman of the board since March 2000. Carlucci did not stand for re-election as a director at the Company’s shareholders’ meeting held today in Calgary, having reached the age of retirement, 70, in accordance with the Company’s guidelines governing eligibility to become a nominee for director.

Commenting on Carlucci’s service to Nortel Networks, John Roth, president and chief executive officer, Nortel Networks, said “Nortel Networks is deeply grateful to Frank Carlucci for his leadership and contribution during this important period in the company’s history. Frank played a key role on the Board and also actively assisted Nortel Networks in formulating and expressing its views on issues such as permanent Normal Trade Relations with China, export controls and other important legislative and world issues.”

Wilson (61), of Oakville, Ontario, has been a director of the Company since March 7, 2000 and of Nortel Networks Limited since April 25, 1991. He is Chairman of the Board of CAE, Inc., a flight training, services and equipment company. Earlier, Wilson enjoyed a distinguished career at BCE Inc., a telecommunications company, where he served as its Chairman, President and Chief Executive Officer. He is also a director of DaimlerChrysler AG, Imperial Oil Limited, and Ontario Power Generation Inc.

Commenting on his appointment as chairman of the board, Wilson said, “Over my 10-year association with Nortel Networks, I have had the opportunity to witness and participate in its evolution into a global Internet and communications leader. I look forward to serving Nortel Networks in my new capacity as it focuses on unleashing the high-performance, profitable Internet for our customers around the world.”

Nortel Networks is a global Internet and communications leader with capabilities spanning Optical, Wireless, Local, Personal Internet and eBusiness. The Company had 2000 U.S. GAAP revenues of US$30.3 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet, promising a new era of collaboration, communications and commerce. Visit us at

*Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of Nortel Networks.

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