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

To: zbyslaw owczarczyk who wrote (2060)	2/22/1999 12:10:00 PM
From: Paul Lee	Read Replies (1) \| Respond to of 14638

Nortel Networks Renews Share Repurchase Program TORONTO, Feb. 22 /PRnewswire/ - Nortel Networks (NYSE:NT/TSE:NTL) announced today that it has filed with the Toronto and Montreal stock exchanges and with the provincial securities regulatory authorities a Notice of Intention to make a normal course issuer bid for its common shares. Pursuant to the issuer bid, Nortel Networks may purchase for cancellation up to 10,000,000 common shares, representing approximately 1.5 percent of its issued and outstanding common shares. The purchases may be conducted during the twelve month period commencing on February 26, 1999 and ending on February 25, 2000. The shares will be purchased through the facilities of the Toronto, Montreal and New York stock exchanges at market prices. In the twelve month period ending on February 3, 1999, Nortel repurchased and cancelled 4,347,400 common shares under its previous share repurchase program at an average price per share of C$77.04 or US$50.86.

To: zbyslaw owczarczyk who wrote (2060)	2/22/1999 1:12:00 PM
From: Frank Ferrari	Respond to of 14638

ZO, Thanks for the clarification. Frank

To: zbyslaw owczarczyk who wrote (2060)	2/22/1999 5:14:00 PM
From: Mr.Fun	Respond to of 14638

Well, yes and no. NN has apparently won a contract to extend G1's ATM network to full global status - a big and important contract. However, G1 has an existing ATM/frame relay network based on Nortel's passport product. This equipment is not going to be decommisioned, but rather integrated into the new architecture, and most of it is in Europe. In addition, Nortel will supply additional passport's to serve as edge switches for the global frame relay product. Furthermore, each of the main partners in global one, FT, DT,and Sprint are sizeable customers of the Passport product line. Yes, I know FT and DT also buy alot of NN 36170s for their core ATM networks, but much of the edge is passport in both networks. So, NT's ATM could be provisioned off of NT Passport switches - eventually, much of the backbone traffic may traverse NN switches, but NT will still be involved.