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To: Johnny Canuck who wrote (40951)	4/5/2004 11:39:28 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70658

11:01AM Expect SEC's 'seige' of Nortel to be protracted: CIBC (NT) by Tomi Kilgore NEW YORK (CBS.MW) -- CIBC World Markets analyst Steve Kamman reiterated his "sector performer" rating on Nortel Networks (NT) following the company's announcement that the U.S. Securities and Exchange Commission has launched a formal investigation into its books, and said investors could the "seige" to be protracted. "The most important thing to remember is that Nortel's communications with investors are likely to be dominated by lawyers for some time, implying a fairly protracted information vacuum," Kamman said in a note to clients. "This raises the risk of unchecked speculation in an environment of increasing investor uncertainty over the scope of the probe, the role of current management and the impact on future results." The stock was last down 31 cents, or 4.9 percent, at $5.98, and was the NYSE's most-active with 27.5 million shares traded.