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Nortel Has New HQ

Nortel has selected a Toronto location for its new global headquarters

December 20, 2005

1 Min Read

TORONTO -- Nortel (NYSE:NT) (TSX:NT) has selected a Toronto location for its new global headquarters, confirming its commitment to remain within the financial capital of Canada and one of the top five most livable cities in the world according to the London-based Economist Intelligence Unit. Nortel will establish its headquarters at 195 The West Mall, an 11 storey, approximately 160,000 square foot building in the west end of the city.

"As we head into a new chapter in Nortel's history, our global headquarters will reflect both the proud heritage of Nortel and the exciting journey that lies ahead," said Mike Zafirovski, president and CEO, Nortel. "As well as being home to many of Nortel's corporate functions, The West Mall site will utilize Nortel's sophisticated solutions to showcase how we deliver innovative communications capabilities."

As previously announced Nortel sold its Brampton, Ontario site to Rogers Communications for approximately CDN$100 million as part of Nortel's strategy to better align real estate requirements to current business needs.

Nortel Networks Ltd.

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