Nortel Networks - Canada - Chance oder Zock?!?

Certain  statements in this press release may contain words such as “could”,  “expects”, “may”, “should”, “will”, “anticipates”, “believes”,  “intends”, “estimates”, “targets”, “plans”, “envisions”, “seeks” and  other similar language and are considered forward-looking statements or  information under applicable securities laws. These statements are based  on Nortel’s current expectations, estimates, forecasts and projections  about the operating environment, economies and markets in which Nortel  operates. These statements are subject to important assumptions, risks  and uncertainties that are difficult to predict, and the actual outcome  may be materially different. Nortel’s assumptions, although considered  reasonable by Nortel at the date of this press release, may prove to be  inaccurate and consequently Nortel’s actual results could differ  materially from the expectations set out herein.

Actual results or events could differ materially from those  contemplated in forward-looking statements as a result of the following:  (i) risks and uncertainties relating to the Creditor Protection  Proceedings including: (a) risks associated with Nortel’s ability to:  obtain required approvals and successfully consummate remaining  divestitures; successfully conclude ongoing discussions for the sale of  Nortel’s remaining assets; develop, obtain required approvals for, and  implement a court approved plan; allocation of the sale proceeds of our  businesses and assets among the various Nortel entities participating in  these sales may take considerable time to resolve; resolve ongoing  issues with creditors and other third parties whose interests may differ  from Nortel’s; maintain adequate cash on hand in each of its  jurisdictions to fund remaining work within the jurisdiction during the  Creditor Protection Proceedings; obtain any further required approvals  from the Canadian Monitor, the U.K. Administrators, the U.S. Principal  Officer, the U.S. Creditors’ Committee, or other third parties; utilize  net operating loss carryforwards and certain other tax attributes in the  future; avoid the substantive consolidation of NNI’s assets and  liabilities with those of one or more other U.S. Debtors; operate  effectively, and in consultation with the Canadian Monitor, the Canadian  creditors’ committee,  the U.S. Creditors’ Committee, the U.S.  Principal Officer,and work effectively with the U.K. Administrators and  French Administrator in their respective administration of the EMEA  businesses subject to the Creditor Protection Proceedings; continue as a  going concern; actively and adequately communicate on and respond to  events, media and rumors associated with the Creditor Protection  Proceedings; retain and incentivize key employees as may be needed;  retain, or if necessary, obtain court orders or approvals with respect  to motions filed from time to time; resolve claims made against Nortel  in connection with the Creditor Protection Proceedings for amounts not  exceeding Nortel’s recorded liabilities subject to compromise; prevent  third parties from obtaining court orders or approvals that are contrary  to Nortel’s interests; and (b) risks and uncertainties associated with:  limitations on actions against any Debtor during the Creditor  Protection Proceedings; the values, if any, that will be prescribed  pursuant to any court approved plan to outstanding Nortel securities  and, in particular, that Nortel does not expect that any value will be  prescribed to the NNC common shares or the NNL preferred shares in any  such plan; the delisting of NNC common shares from the NYSE; the  delisting of NNC common shares and NNL preferred shares from the TSX  and; any cease trade orders that are expected to be issued by Canadian  Securities Administers to prohibit trading in securities of NNC and NNL  following the third quarter filing deadlines applicable to NNC and NNL’s  quarterly reporting obligations under Canadian securities laws; and  (ii) risks and uncertainties relating to Nortel’s remaining  restructuring work including fluctuations in foreign currency exchange  rates; the sufficiency of workforce and cost reduction initiatives; any  adverse legal judgments, fines, penalties or settlements related to any  significant pending or future litigation actions; failure to maintain  integrity of Nortel’s information systems; and Nortel’s potential  inability to maintain an effective risk management strategy.

For additional information with respect to certain of these and other  factors, see Nortel’s Annual Report on Form 10-K, Quarterly Reports on  Form 10-Q and other securities filings with the SEC. Unless otherwise  required by applicable securities laws, Nortel disclaims any intention  or obligation to update or revise any forward-looking statements,  whether as a result of new information, future events or otherwise.

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