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

To: primepower who wrote (1471)	11/20/1998 12:13:00 PM
From: Paul Lee	Respond to of 14638

nice win Nortel Networks Signs Contracts Valued At Over US$120 Million During Canadian Prime Minister Jean Chretien's Visit to China BEIJING, Nov. 20 /PRNewswire/ - Coinciding with Canadian Prime Minister Jean Chretien's visit to China, Nortel Networks (NYSE: NT/TSE: NTL) today signed a series of contracts with Chinese customers with a total value of over US$120 million. The signing ceremony was presided over by Canada's Minister of International Trade, the Honourable Sergio Marchi, and His Excellency Zeng Peiyan, China's Minister of the State Development Planning Commission. In addition, an agreement with Tsinghua University was signed to establish a joint research lab. Nortel Networks and its Chinese partners also announced plans to invest an additional US$37.5 million in its switching joint venture, Guangdong Nortel Telecommunications Switching Ltd. (GDNT). Agreements that were signed include: - Contracts with The Hebei Post and Telecommunications Administration for a major expansion of the province's GSM digital cellular network. - Contracts signed by GDNT, Nortel Networks' flagship joint venture in China, with the Xian, Tianjin, Yunan, and Guangdong, Post and Telecommunications Administrations for the delivery of Nortel Networks DMS switching equipment. - Contracts for the design, provisioning and installation of equipment relating to expansion of China Unicom's GSM digital cellular networks in the provinces of Shandong, Ningxia and Heilongjiang. - A contract with China Customs to design, build and install the State Port Private Network, a private ATM network based on the public ATM network currently used by China Customs. - Contracts with Sichuan and Chongqing branches of China Unicom to expand their public switching telephone networks (PSTN) using Nortel Networks' new PDMX-EV Access product. - An agreement between Bay Networks, a Nortel Networks line of business, and Tsinghua University, the leading engineering school in China, to establish a joint research laboratory to develop computer networking technologies and products in China. The new research laboratory will join Nortel Networks' Bay Architecture Lab and Tsinghua's Network Research Center. The joint research laboratory will accelerate the development of networking expertise in China. The agreement also includes an ''expert exchange program'' between Nortel Networks and Tsinghua University to facilitate closer collaboration. - An amendment agreement to GDNT's current joint venture agreement. According to the new agreement Nortel Networks and its Chinese partners will invest an additional US$37.5 million in GDNT. GDNT currently manufactures Nortel Networks' world-renowned DMS SuperNode family of switching products in China. The investment will be used to further expand GDNT's manufacturing capabilities in the areas of GSM, CDMA, Access as well as multimedia communications systems. On an international level, 1998 has been a very important year for Nortel Networks. Our successful merger with Bay Networks has created a unique customer-driven, dynamic organization which is capable of providing seamless data and voice communications solutions -- Unified Networks -- to customers,'' said Mr. Robert Mao, president and CEO, Nortel Networks China. The series of contracts we signed today is a clear testimony to our ability in providing customers in China with mission-critical network solutions using Nortel Networks' sophisticated switching, transmission, fiber access, GSM, routers, and ATM networking systems. We are committed to building relationships with our Chinese customers and are proud to set the standard for industry development throughout China,'' Mr. Mao added. The contract signing ceremony is part of a two-day high-level exchange program between Canada and China. The program included the visit of Canadian Prime Minister Jean Chretien to China. To commemorate the significance of this event, Nortel Networks sponsored an art exhibition entitled ''Canada Through The Eyes of Chinese''. Exhibits on display included paintings and drawings by established Chinese artists. Chinese Premier Zhu Rongji and Canadian Prime Minister Chretien both attended the art exhibition. SOURCE Northern Telecom Limited

To: primepower who wrote (1471)	11/20/1998 12:14:00 PM
From: Thai Chung	Read Replies (1) \| Respond to of 14638

Friday November 20, 10:46 am Eastern Time Nortel announcement/China contracts (Full text of press release from Canada NewsWire) Nortel Networks Signs Contracts Valued At Over US$120 Million During Canadian Prime Minister Jean Chretien's Visit to China BEIJING, Nov. 20 /CNW/ - Coinciding with Canadian Prime Minister Jean Chretien's visit to China, Nortel Networks (NYSE: NT/TSE: NTL) today signed a series of contracts with Chinese customers with a total value of over US$120 million. The signing ceremony was presided over by Canada's Minister of International Trade, the Honourable Sergio Marchi, and His Excellency Zeng Peiyan, China's Minister of the State Development Planning Commission. In addition, an agreement with Tsinghua University was signed to establish a joint research lab. Nortel Networks and its Chinese partners also announced plans to invest an additional US$37.5 million in its switching joint venture, Guangdong Nortel Telecommunications Switching Ltd. (GDNT). Agreements that were signed include: - Contracts with The Hebei Post and Telecommunications Administration for a major expansion of the province's GSM digital cellular network. - Contracts signed by GDNT, Nortel Networks' flagship joint venture in China, with the Xian, Tianjin, Yunan, and Guangdong, Post and Telecommunications Administrations for the delivery of Nortel Networks DMS switching equipment. - Contracts for the design, provisioning and installation of equipment relating to expansion of China Unicom's GSM digital cellular networks in the provinces of Shandong, Ningxia and Heilongjiang. - A contract with China Customs to design, build and install the State Port Private Network, a private ATM network based on the public ATM network currently used by China Customs. - Contracts with Sichuan and Chongqing branches of China Unicom to expand their public switching telephone networks (PSTN) using Nortel Networks' new PDMX-EV Access product. - An agreement between Bay Networks, a Nortel Networks line of business, and Tsinghua University, the leading engineering school in China, to establish a joint research laboratory to develop computer networking technologies and products in China. The new research laboratory will join Nortel Networks' Bay Architecture Lab and Tsinghua's Network Research Center. The joint research laboratory will accelerate the development of networking expertise in China. The agreement also includes an "expert exchange program" between Nortel Networks and Tsinghua University to facilitate closer collaboration. - An amendment agreement to GDNT's current joint venture agreement. According to the new agreement Nortel Networks and its Chinese partners will invest an additional US$37.5 million in GDNT. GDNT currently manufactures Nortel Networks' world-renowned DMS SuperNode family of switching products in China. The investment will be used to further expand GDNT's manufacturing capabilities in the areas of GSM, CDMA, Access as well as multimedia communications systems. ''On an international level, 1998 has been a very important year for Nortel Networks. Our successful merger with Bay Networks has created a unique customer-driven, dynamic organization which is capable of providing seamless data and voice communications solutions -- Unified Networks -- to customers,'' said Mr. Robert Mao, president and CEO, Nortel Networks China. ''The series of contracts we signed today is a clear testimony to our ability in providing customers in China with mission-critical network solutions using Nortel Networks' sophisticated switching, transmission, fiber access, GSM, routers, and ATM networking systems. We are committed to building relationships with our Chinese customers and are proud to set the standard for industry development throughout China,'' Mr. Mao added. The contract signing ceremony is part of a two-day high-level exchange program between Canada and China. The program included the visit of Canadian Prime Minister Jean Chretien to China. To commemorate the significance of this event, Nortel Networks sponsored an art exhibition entitled ''Canada Through The Eyes of Chinese''. Exhibits on display included paintings and drawings by established Chinese artists. Chinese Premier Zhu Rongji and Canadian Prime Minister Chretien both attended the art exhibition. /For further information: Sharon Tang, Nortel Networks, + 8610 65237788, tangs(at)nortelnetworks.com; Peter Janecek, Nortel Networks, (905) 863-6251, p.janecek(at)nortelnetworks.com; Or visit Nortel Networks' web-site at www.nortelnetworks.com/