Law Office of Weiss & Yourman Announces an Expanded Class Period for the Class Action Lawsuit against Nortel Networks Corporation

Business Wire, May 5, 2004

Business Editors

NEW YORK--(BUSINESS WIRE)--May 5, 2004

A class action lawsuit against Nortel Networks Corporation ("Nortel" or the "Company") (NYSE:NT) and its senior executives was commenced in the United States District Court for the Southern District of New York, seeking to recover damages on behalf of defrauded investors who purchased Nortel securities. The class periods alleged in the suits filed by investors now span from October 23, 2003 to April 28, 2004.

The complaint charges defendants with violations of the antifraud provisions of the Securities Exchange Act of 1934, alleging that defendants issued a series of materially false and misleading statements which artificially inflated the price of Nortel securities during the Class Period.

Plaintiff is represented by Weiss & Yourman, a law firm possessing significant experience and expertise in prosecuting class actions on behalf of defrauded shareholders in federal and state courts throughout the United States. Weiss & Yourman has been appointed by numerous courts to serve as lead counsel in class action lawsuits and in that capacity has recovered hundreds of millions of dollars on behalf of investors.

If you purchased Nortel securities between October 23, 2003 and April 28, 2004, you may move the court no later than May 17, 2004, to serve as a lead plaintiff of the class. In order to serve as a lead plaintiff, you must meet certain legal requirements. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Weiss & Yourman, or other counsel of your choice, to serve as your counsel in this action.

If you wish to receive an investor package or if you wish to discuss this action, have any questions concerning this notice or your rights or interests with respect to this matter, or if you have any information you wish to provide to us, please contact:

James E. Tullman, David C. Katz, and/or Mark D. Smilow, (888) 593-4771 or (212) 682-3025, via Internet electronic mail at info@wynyc.com or by writing Weiss & Yourman, The French Building, 551 Fifth Avenue, Suite 1600, New York, New York 10176.