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February 17, 2004
France Telecom and Nortel Networks to Form Strategic Partnership in Order to Jointly Develop IP Multimedia Services for the Business Market
PARIS, FRANCE - France Telecom and Nortel Networks*[NYSE/TSX: NT] announced today the signing of a Memorandum of Understanding (MoU), in order to jointly develop IP Multimedia services for the Business market. This strategic partnership will focus on providing a new generation of seamless services in the business market, precisely in the area of person-to-person communication and collaborative work. The main objective is to simplify communications and increase business’ functionality, mobility and productivity.
The MoU contemplates:- the setting of joint research and development teams,
- the sharing of R&D funding,
- and the sharing of intellectual property resulting from the partnership
France Telecom is one of the world's leading telecommunications carriers, with 117,1 million customers on the five continents (220 countries and territories) and consolidated operating revenues of 46.1 billion euros for 2003. Through its major international brands, including Orange, Wanadoo, Equant and GlobeCast, France Telecom provides businesses, consumers and other carriers with a complete portfolio of solutions that spans local, long-distance and international telephony, wireless, Internet, multimedia, data, broadcast and cable TV services. France Telecom is the second-largest wireless operator and Internet access provider in Europe, and a world leader in telecommunications solutions for multinational corporations. France Telecom (NYSE: FTE) is listed on the Paris and New York stock exchanges. About Nortel Networks
Nortel Networks is an industry leader and innovator focused on transforming how the world communicates and exchanges information. The Company is supplying its service provider and enterprise customers with communications technology and infrastructure to enable valued-added IP data, voice and multimedia services spanning Wireless Networks, Wireline Networks, Enterprise Networks and Optical Networks. As a global company, Nortel Networks does business in more than 150 countries. More information about Nortel can be found on the web at www.nortelnetworks.com Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the sufficiency of our restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; continued reductions in spending by our customers; fluctuations in operating results and general industry, economic and market conditions and growth rates; the communication by our auditors of the existence of material weaknesses in internal control; the ability to recruit and retain qualified employees; fluctuations in cash flow, the level of outstanding debt and our current debt ratings; the ability to meet the financial covenant in our credit facilities; the use of cash collateral to support our normal course business activities; the dependence on our subsidiaries for funding; the impact of our defined benefit plans and our deferred tax assets on our results of operations, cash flows and compliance with our financial covenant; the dependence on new product development and our ability to predict market demand for particular products; the ability to integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; barriers to international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization in the telecommunications industry; changes in regulation of the Internet; the impact of the credit risks of our customers and the impact of customer financing and commitments; stock market volatility generally and as a result of acceleration of the settlement date or early settlement of our purchase contracts; risks associated with a consolidation of our common shares; the impact of supply and outsourcing contracts that contain delivery and installation provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; the future success of our strategic alliances; and the adverse resolution of litigation, intellectual property disputes and similar matters. For additional information with respect to certain of these and other factors, see the most recent Form 10-Q and Form 10-K filed by Nortel Networks with the United States Securities and Exchange Commission. Unless otherwise required by applicable securities laws, Nortel Networks disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. *Nortel Networks is a trademark of Nortel Networks. *Use of the terms "partner" and "partnership" does not imply a legal partnership relationship between Nortel Networks and any other party. At the present stage this MOU means a non binding agreement between France Telecom and Nortel Networks, and should not be understood as a binding document. Contact for Press and Analysts:
Carrie Kasten
Nortel Networks
+44 1628 435358
ckasten@nortel.com
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