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

To: Kenneth E. Phillipps who wrote (2441)	4/16/1999 11:12:00 AM
From: Paul Lee	Read Replies (1) \| Respond to of 14638

Chinese Premier Zhu Rongji Visits Nortel Networks R&D Campus Nortel Networks Vice-Chairman and CEO, John Roth hosts Chinese Delegation OTTAWA, April 16 /PRNewswire/ - Chinese Premier Zhu Rongji was welcomed today by John Roth, vice chairman and CEO, Nortel Networks (NYSE: NT/TSE: NTL) at the company's largest research and development campus in the world. The Premier's visit highlights a long and rewarding friendship between Nortel Networks and China that has continued for more than 27 years. Over the years, the company has made significant investments in sales, manufacturing and research and development facilities in China to bolster in-country expertise and develop world-class communications capability. In welcoming the Chinese Premier and his delegation to the labs, John Roth noted that: ''Today, about 60 percent of Nortel Networks research and development budget is channeled towards Internet-related products. We're evolving current networks into a powerful new vision that brings together data, video and telephony. Today, our technology advances are making new capabilities possible that existed only as dreams a few years ago.'' The Premier's visit is part of a state visit hosted by the Government of Canada. A delegation of senior Chinese ministers, officials and diplomats accompanied Premier Zhu to Nortel Networks. The Honourable Sergio Marchi, Minister for International Trade, headed the Canadian government delegation. Nortel Networks started its close association with China with the sale of transmission equipment in 1972. In addition to six joint ventures established over the years, it also initiated the country's first telecommunication research and development center at Beijing University of Posts and Telecommunication.