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Important Notice on Nortel Networks Dividend Reinvestment Program


On June 15, 2001, Nortel Networks Corporation announced that its Board of Directors had decided to discontinue the declaration and payment of future common share dividends. As a result it is expected that dividends will not be declared and paid on Nortel Networks Corporate common shares after June 29, 2001.

On July 26, 2001, the Board of Directors of the Corporation suspended the Nortel Networks Corporation Dividend Reinvestment and Stock Purchase Plan.

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Historical Common Share Dividend Payment Information

Nortel Networks initial public offering (IPO) date was December 5, 1973. The offer price was C$15.00 per share. Nortel Networks was first listed on the Toronto Stock Exchange (TSE: NT) on January 4, 1974 and on the New York Stock Exchange (NYSE: NT) on November 10, 1975.

For Nortel Networks Common Shares

Record Date	Payment Date	Amount in US$
June 7, 2001	June 29, 2001	0.01875
March 12, 2001	March 30, 2001	0.01875
December 4, 2000	December 29, 2000	0.01875
September 1, 2000	September 29, 2000	0.01875
June 8, 2000	June 30, 2000	0.01875**
March 9, 2000	March 31, 2000	0.0375
December 3, 1999	December 31, 1999	0.0375
September 3, 1999	September 30, 1999	0.0375*
June 8, 1999	June 30, 1999	0.075
March 8, 1999	March 31, 1999	0.075
December 4, 1998	December 31, 1998	0.075
September 4, 1998	September 30, 1998	0.075
June 5, 1998	June 30, 1998	0.075
March 6, 1998	March 31, 1998	0.075