Nortel Networks and Clarify announce Clearance by the German Federal Cartel Office in connection with acquisition of Clarify by Nortel Networks - German Act Against Restraints on Competition - Company Business and Marketing

Cambridge Telcom Report, Dec 27, 1999

Nortel Networks and Clarify Inc. announced the clearance of the German Act Against Restraints on Competition by the German Federal Cartel Office in connection with the acquisition of Clarify by Nortel Networks.

On October 18, 1999, Nortel Networks and Clarify announced the entering into of a definitive merger agreement, whereby Nortel Networks will acquire Clarify, subject to certain customary conditions, including approval by the stockholders of Clarify and certain other regulatory filings and approvals. On November 24, 1999, Nortel Networks and Clarify announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. As previously disclosed, Nortel Networks and Clarify expect that the transaction will close in the first quarter of 2000.

Founded in 1990, Clarify Inc. is the world's second largest front office software provider. Clarify eFrontOffice combines customer relationship management and eBusiness capabilities in a single solution allowing companies to quickly deploy e-business sales, marketing and service initiatives. Clarify is the choice of leading corporations including Best Buy, British Telecommunications, Compaq, E(x)Trade, First USA, General Electric, giggo.com, Gillette, H&R Block, Microsoft, and Prudential. Clarify has strategic alliances with Ernst & Young, KPMG, and PricewaterhouseCoopers. The company has a direct sales and service organization with offices in Asia Pacific, Europe, North America and South America. Contact Clarify at 1-408-965-7000, via e-mail at info(at)clarify.com or on the web at www.clarify.com.

Nortel Networks is a global leader in telephony, data, wireless and wireline solutions for the Internet. The Company had 1998 revenues of US$17.6 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet through Unified Networks that promise a new era of collaboration, communications and commerce. FMI: www.nortelnetworks.com.