Joannu Leaves Nortel

TORONTO -- Nortel(1) Networks Corporation (Toronto:NT.TO - News)(NYSE:NT - News) today announced the departure of Dion Joannou, President North America, effective August 31, 2007. Joannou leaves Nortel to pursue other personal interests.

During Joannou's tenure in his current role, he built a world-class leadership team that will continue to drive the momentum of Nortel's North American business. Details surrounding Joannou's successor are being finalized and will be announced at a later date.

"Throughout his 12 years at Nortel, Dion made many significant contributions in driving business momentum and played a critical role in developing Nortel's Enterprise business," commented Nortel president and CEO Mike Zafirovski. "We are sorry to see him go, and wish him much success in all his future endeavors. He has built a very talented team of executives who will continue to advance our business goals and deliver unparalleled service to our North American customers in the months and years ahead."

Nortel Networks Ltd.