Nortel Networks Declares Preferred Share Dividend

Toronto (ots-PRNewswire) - The board of directors of Nortel
Networks Limited today declared a dividend of Cdn$1,879.45 per share on each Nortel Networks Cumulative Redeemable Class A Preferred Share Series 4. The dividend is payable on October 11, 2000 to shareholders of record at the close of business on October 10, 2000.

Nortel Networks is a global Internet and communications leader with capabilities spanning Optical, Wireless, Local Internet and eBusiness. The Company had 1999 U.S. GAAP revenues of US$21.3 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 http://www.nortelnetworks.com.

ots Original Text Service: Nortel Networks Corporation
Internet: http://recherche.newsaktuell.de

Contact:
Business Media: Jeff Ferry, Nortel Networks
Tel.: +1 703 712-8339, jferry@nortelnetworks.com;
Investor Relations, Nortel Networks
Tel.: +1 800-901-7286, +1 905-863-6049,
investor@nortelnetworks.com

*** OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER

VERANTWORTUNG DES AUSSENDERS ***

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | PRN/OTS-PRNEWSWIRE