Frank Dunn welcomes opportunity to appear before the Ontario Securities Commission

    TORONTO, March 12 /CNW Telbec/ - Frank Dunn, former President and CEO of
Nortel Networks, welcomes the announcement today that the Ontario Securities
Commission will hold a hearing into the circumstances relating to the
restatements of the earnings of Nortel Networks.
    "I am looking forward to the opportunity that this open and transparent
process will give for the truth to finally come out about the events of 2000
and 2003," Mr. Dunn says. "I expect the Commission will conduct a full and
fair hearing and will allow all interested parties to fully participate in the
hearing. I believe an important outcome of this hearing will be the resolution
of the negative perception, created through 2004 and 2005, of the commitment,
dedication and, above all, the integrity of Nortel employees."

    Mr. Dunn will not be granting media interviews before the hearing, but
will be available immediately thereafter.

For further information:

For further information: Ms. Orli Giroux Namian, (416) 360-6183 x 224,

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