Stull, Stull & Brody Announces Class Action Against Nortel Networks Corporation

Business Wire, May 7, 2004

Business Editors/Legal Writers

NEW YORK--(BUSINESS WIRE)--May 7, 2004

Notice is hereby given that an amended class action lawsuit was filed on May 4, 2004, in the United States District Court for the Southern District of New York, on behalf of defrauded investors who purchased securities of Nortel Networks Corporation ("Nortel") (NYSE:NT) between October 23, 2003 and April 28, 2004, inclusive (the "Class Period") against Nortel and its senior executives.

The complaint charges defendants with violations 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 seeks to recover damages on behalf of class members and is represented by, among others, the law firm of Stull, Stull & Brody. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions.

If you acquired Nortel common stock between October 23, 2003 and April 28, 2004, you may, no later than May 17, 2004, request the Court appoint you as lead plaintiff.

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 Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Aaron Brody, Esq. at Stull, Stull & Brody by calling toll-free 1-800-337-4983, or by e-mail at SSBNY@aol.com, or by fax at 212-490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our Web site at www.ssbny.com.