Statement by Frank Dunn, former President and CEO of Nortel Networks:

    TORONTO, March 12 /CNW Telbec/ - "I am disappointed that, after three
years, the United States Securities and Exchange Commission has brought
charges on the same day in respect of the same matter as the Ontario
Securities Commission. I think it would have been appropriate, under the
circumstances, if the authorities in the United States had deferred to the
Ontario Securities Commission in what is really a Canadian matter, and had
acknowledged that the Canadian authorities are fully capable of addressing
these important issues. I hope that, so that the issues can now be fully and
fairly explored, they will be dealt with in a hearing in Canada."

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Frank Dunn

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