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

To: RetiredNow who wrote (7085)	9/28/2000 2:10:03 PM
From: Kenneth E. Phillipps	Respond to of 14638

TELEFONICA MOVILES PICKS NORTEL TO SUPPLY NEW SPANISH NETWORK (The following is a reformatted version of an electronic mail press release issued by Nortel Networks Corporation) Telef¢nica M¢viles Selects Nortel Networks for Nationwide Packet ATM Network in Spain Backbone Network Will Support GPRS Traffic, Facilitate Transition to UMTS Services MADRID - Telef¢nica M¢viles Espa¤a, Spain's largest wireless operator, has selected Nortel Networks [NYSE/TSE: NT] to supply a new nationwide multiservice packet network that will support traffic for General Packet Radio Service (GPRS), scheduled to be launched across Spain in the last quarter of this year. Initial deployment will cover Spain's three main urban areas - Madrid, Barcelona and Valencia - within the next quarter, and will be extended to the rest of the country by June 2001. The network will allow Telef¢nica M¢viles to start the gradual transition from traditional, circuit-based switching to state-of- the-art packet-based switching, a key technology for supporting GPRS, third generation UMTS and Wireless Internet services. As a facilitator for this transition, ATM-based circuit emulation services will help Telef¢nica M¢viles to significantly decrease the transition costs inherent to traditional circuits over a short period of time. The new network will integrate Frame Relay, ATM and IP services in the same multiservice platform. Nortel Networks Passport* and Nortel Networks Preside* product families are industry-leading packet data solutions chosen by operators worldwide for fixed and wireless networks, and have been the key elements of Telef¢nica M¢viles' decision. This contract with the leading Spanish mobile operator strengthens Nortel Networks' leadership position in the western European wireless infrastructure equipment market, forecast by industry analysts to be worth US$70 billion by 2003. "This award shows Nortel Networks' commitment with Telef¢nica M¢viles to develop a long-term strategic relationship. Our objective is to build a state-of-the-art infrastructure ready for the new generation of Wireless Internet services," said Jordi Casamitjana, vice-president and managing director for Nortel Networks in Spain. The Nortel Networks solution includes Nortel Networks Passport multiservice switches, Nortel Networks Preside network and service management, and network implementation services. Telef¢nica M¢viles Espa¤a (www.tsm.es), with more than 12.5 million clients, is the leader in the Spanish mobile telephony market. During the last year, the company has been doing large investments concerning research in the field of mobile Internet and the development of mobile data. The result of these efforts has been the launch of "e-moci¢n" a few weeks ago. Telef¢nica M¢viles has also created a Technology and Development Center in order to continue the integration of mobile and Internet technologies, which will allow mobile phones to turn into personal communicators. Its aim is to develop new services in this field. Nortel Networks is a global Internet and communications leader with capabilities spanning Optical, Wireless, Local Internet and eBusiness. The Company had 1999 U.S. GAAP revenues of US$21.3 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet, promising a new era of collaboration, communications and commerce. Visit us at www.nortelnetworks.com. Nortel Networks, the Nortel Networks logo, the Globemark, Passport and Preside are trademarks of Nortel Networks. (me)MD -END-