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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (3043)	7/18/1999 1:16:00 PM
From: llwk7051@aol.com	Read Replies (1) \| Respond to of 14638

NORTEL (NYSE:NT) IN $36 MLN PROJECT IN EGYPT [Reuters, 164 words] (NYSE:NT) Nortel Networks Corp Quote.Com news item #10782951 ================================================================ * NORTEL (NYSE:NT) IN $36 MLN PROJECT IN EGYPT [Reuters, 164 words] CAIRO, July 18 (Reuters) - Nortel (NYSE:NT), one of the world's biggest communications and Internet equipment makers, has won a project to extend about 300,000 telephone lines in Egypt, its domestic representative announced on Sunday. "Nortel's winning of the contract is expected to be a turning point in the company's strategy towards the Egyptian market," said Medhat Khalil, board member of Tritech, which represents Nortel. Khalil said in the announcement, published in the daily al-Akhbar, the U.S. Agency for International Development would offer a grant to finance the establishment of the 300,000 land lines that will serve new urban communities. The deal is worth $36 million. No more details were published and Tritech executitves were not immediately available. Khalil said Nortel's worldwide turnover in 1998 was about $17 billion. cairo.newsroom@reuters.com)) Copyright 1999, Reuters News Service