Proceedings

Notice from the
Office of the Secretary

Ontario

Ontario Securities
Commission


20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
Commission des valeurs mobilières de l'Ontario

FOR IMMEDIATE RELEASE

May 16, 2007


IN THE MATT ER OF THE SECURITIES ACT
R.S.O. 1990, C. S.5, AS AMENDED

- AND -

IN THE MATTER OF

NORTEL NETWORKS CORPORATION and NORTEL NETWORKS LIMITED

TORONTO – The Office of the Secretary issued a Notice of Hearing today pursuant to sections 127 and 127.1 of the Act to consider whether it is in the public interest to approve the settlement of the proceeding entered into between Staff of the Commission and Nortel to be heard on May 22, 2007 at 11:00 a.m. in the Large Hearing Room.

A copy of the Notice of Hearing and the Statement of Allegations is available at www.osc.gov.on.ca

OFFICE OF THE SECRETARY
JOHN P. STEVENSON
SECRETARY

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