Nortel Networks - Re Grants of Option

RNS Number:8846A
Nortel Networks Corporation
15 November 1999


NORTEL NETWORKS CORPORATION
1986 STOCK OPTION PLAN AS AMENDED AND RESTATED

Nortel Networks Corporation (the "Corporation") hereby confirms the following
grants of options ("Options") to purchase common shares of the Corporation
issued pursuant to the Nortel Networks Corporation 1986 Stock Option Plan as
Amended and Restated (the "Plan"):

    Date of        Number of     Exercise price         Expiry Date
    Grant          Options       US$        CDN$

    Oct 18, 1999      75,000      51.84                 Oct 17, 2009
    Oct 28, 1999   2,697,905      59.69    87.87        Oct 27, 2009

Although the Exchange does not require notice of the grant of Options, we are
providing you with this information as a courtesy because the Corporation is
required to provide such notice to The Toronto Stock Exchange and the Montreal
Exchange.

END
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