Nortel Networks - Re Grants of Options

RNS Number:8510D
Nortel Networks Corp
14 January 2000


Re: 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"):

                     Number of
Date of Grant         Options         Exercise Price           Expiry Date
                                     US$          CDN$
 
Dec. 16, 1999       4,067,150        90.78        134.22       Dec. 15, 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.

      
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