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

To: Kenneth E. Phillipps who wrote (8800)	11/21/2000 8:30:12 AM
From: Kenneth E. Phillipps	Read Replies (1) \| Respond to of 14638

Nortel Networks Advances Lead in Optical Internet Market in New Dell'Oro Report; Claims No. 1 Market Share Across the Board In Long Haul DWDM, Metro DWDM and SONET/SDH BOSTON, MA, Nov. 20 /CNW/ - Nortel Networks (NYSE/TSE: NT) today announced that it has expanded its Optical Internet leadership position in the recent Dell'Oro third quarter 2000 report with 43.2 percent of the overall optical transport market, almost 12 percent more than the same period last year (31.4 percent). In addition, Nortel Networks claimed No. 1 market share across the board in long haul dense-wavelength division multiplexing (DWDM), metropolitan DWDM and SONET/SDH systems. "Nortel Networks continues to drive the Optical Internet revolution," said Greg Mumford, President, Optical Networks, Nortel Networks. "Our continued strong momentum in driving the high-performance Optical Internet is built on our leadership in speed, performance, reliability and network economics. Going forward, we are adding new managed optical services and increased levels of intelligence and flexibility as we accelerate the evolution towards the all-optical network." The Dell'Oro report confirms that Nortel Networks continues to beat industry performance and increase market momentum. According to the report, industry revenues in the third quarter were up 36 percent over the same quarter in 1999. Nortel Networks growth over the same period last year was nearly 90 percent -- more than double the industry average. "Our first-mover advantage in Terabit optical networking and economically deployable metropolitan DWDM solutions was critical to our success," said Mumford. "But we are not resting on our laurels. We will continue to show technology leadership and innovation with the next generation of Optical Internet solutions, including our all-optical switch and our 40/80 Gbps transport system." At Telecom '99, Nortel Networks showed a scalable 40/80 Gbps system capable of increasing capacity as high as 6.4 terabits per second - a system tested by Qwest in June 2000. In July, Nortel Networks announced a US$1.9 billion investment in optical manufacturing capabilities to more than double its global optical systems and components production capacity over the subsequent 18 months. This follows previously announced investments in optical production capacity totaling US$660 million. 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. Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price and product competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Nortel Networks to make acquisitions and/or integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of consolidations in the telecommunications industry, the uncertainties of the Internet; stock market volatility; the ability of Nortel Networks to recruit and retain qualified employees; and the impact of increased provision of customer financing by Nortel Networks. For additional information with respect to certain of these and other factors, see the reports filed by Nortel Networks with the United States Securities and Exchange Commission. Nortel Networks disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. -0- 11/20/2000 For further information: Media Relations, Nortel Networks, (703) 712-8535, mediarelations@nortelnetworks.com; Archived images on this organization are available through CNW E-Pix at www.newswire.ca. Images are free to members of The Canadian Press. -------------------------------------------------------------------- ragingbull.altavista.com