May 25, 2005

450 DELEGATES, 60 EXHIBITORS EXPECTED TO ATTEND CANTO’S 21ST ANNUAL CONFERENCE AND TRADE EXHIBITION IN ST. KITTS

BASSETERRE, ST. KITTS, MAY 22ND 2005 (CUOPM) - The Caribbean Association of National Telecommunication Organisations (CANTO), is to hold its 21st Annual Telecommunications Conference and Trade Exhibition in St. Kitts.

The 19th to 22nd June event is being hosted by Cable & Wireless (St. Kitts and Nevis Limited) at the Royal St. Kitts Marriott Beach Resort and is expected to attract some 450 delegates.

Sixty exhibitors will be on hand to demonstrate their technology, equipment and services.

The four-day event will be held under the theme, “Telecom Liberalisation and the CSME: Opening New Doors” and is being held at a time when St. Kitts and Nevis and the Caribbean are experiencing the entrance of new companies in the local and regional markets.

“Liberalisation has made its way into the majority of the Caribbean telecommunications markets. New entrants and existing operators will co-exist and balance social and economic development with public sector requirements as the region embrace emerging technologies,” said CANTOS, Secretary General, Regenie F.Ch. Fraser.

The CANTO official said with the materialisation of regional integration, the Caribbean Single Market and Economy or CSME will increase economic activity and drive growth in employment, investment, and trade.

“The theme will focus on the convergence of these two dynamics and its effects on the Caribbean Telecommunications industry. It will also look at the environmental, cultural and economic impact of competition on Caribbean economies,” said Fraser.

CANTO’s annual conference and trade exhibition has long been recognized as the premier telecommunication event in the Caribbean.

Fraser said the annual forum facilitates better understanding of the issues in a non-confrontational atmosphere and establishes a platform for intelligent dialogue among the stakeholders in the execution of their individual responsibilities.

The Caribbean has been identified as a region with immense growth potential in the communication sector and manufacturers, operators, vendors, academics and others who missed last year’s meeting should ensure their attendance this year, if they hope to maintain, regain or grow their markets in the Caribbean region.

CANTO is a regional organisation which was formed in Port of Spain, Trinidad in April, 1985 as a professional trade associations and telecommunications lobby group for the telecommunications companies carrying on business in the Caribbean region.

Its objectives are to establish a forum which Caribbean Telecommunication Organizations may facilitate on an ongoing basis the exchange of information expertise pertaining to telecommunication to help generate inputs for orderly growth of a policy formation in the Regional Telecommunication Sector and to consider matters of mutual interests to its members engaged in providing telecommunication services in he territory of any Caribbean Country.

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May 20, 2005

Globalstar Growth Rate Soars

One Year Following Restructuring, the Satellite Service Provider Shows Robust Customer Growth, Expanded Coverage, as Well as New Products and Services

MILPITAS, Calif., May 19 /PRNewswire/ -- Globalstar, the world's most widely used handheld satellite phone provider and a leading supplier of high-value satellite voice and data services to business, completed its first full year following its financial restructuring based on the formal acquisition of its main business operations and assets by Thermo Capital Partners L.L.C. The company can now boast new products and services, expanded coverage, reduced user costs resulting in significant customer wins, and a 45% growth year over year in its subscriber base of voice users from that of a year ago. More impressively Globalstar simplex data service users have grown at a rate of 900% in the same time period.

Thermo Capital Partners, L.L.C. acquired the satellite system and other assets of Globalstar, L.P. in the spring of 2004 and immediately implemented a highly focused business expansion plan. Despite bankruptcy proceedings that cast doubt on the viability of the entire mobile satellite service industry, Globalstar aggressively expanded, making considerable capital and technology investments while maintaining high-quality, uninterrupted service to its customers around the world at a progressively lower cost.

"Globalstar has delivered on and even exceeded every growth metric we set one year ago," said Jay Monroe, chairman and CEO of Globalstar LLC. "We trained our sights on high-usage vertical markets and have developed a high revenue generating roster as a result of this approach. We said we would offer new products and services that capitalized on the ubiquity and cost-effectiveness of Globalstar service and we did. All the while, our customers have continued to enjoy voice quality, reliability, data connectivity and availability that are unparalleled in the industry. We look forward to continuing this trajectory in the years to come."

Throughout the restructuring process and subsequent investment by Thermo, Globalstar was able to increase the range of satellite products and services it provides customers by meeting a number of critical business objectives, including:

Enhanced Coverage and Gateway Expansion: Globalstar strengthened its core business and improved its North American coverage area by opening and acquiring gateways. Globalstar continues to make progress toward offering service over cellular-like networks in populated areas with its planned Ancillary Terrestrial Component (ATC).

-- In North America, Globalstar recently completed construction of a new gateway in Sebring, Fla. to improve coverage for commercial and recreational marine users and to accommodate growing demand in the Caribbean and southeast United States. The Sebring gateway is expected to begin commercial operations this Summer. Globalstar is also on schedule to construct a sixth North American gateway in Alaska in 2006.

-- Globalstar revitalized voice and data services in key Latin American and European markets by acquiring the independent gateway operations in Venezuela and expanding its sales and marketing force in Europe. Additionally, technology investments in Globalstar's France and Turkey gateways enabled the company to extend simplex data coverage to include the North Atlantic and the Middle East.

-- Globalstar filed an application with the U.S. Federal Communications Commission (FCC) for authority to offer Ancillary Terrestrial Service (ATC) in the U.S. in conjunction with its mobile satellite services. ATC would enable Globalstar to use authorized satellite radio frequencies to integrate a terrestrial wireless service similar to cellular or PCS into its satellite service offerings. Globalstar plans to use this capability to enhance coverage in urban areas, where buildings and other infrastructure can physically block satellite signals, and in rural areas, where the telephone infrastructure is inadequate or entirely lacking.

New Products and Expanded Services: In conjunction with its partners and value-added resellers (VARs), Globalstar introduced several new products in 2004, including:

-- Globalstar Quick Locate -- An affordable web-based asset tracking and monitoring service that utilizes the Globalstar simplex data network.

-- Liberty Price Plans -- Liberty Plans free seasonal users from monthly usage minimums and related costs and allow the flexibility of sharing minutes within accounts.

-- Ready Sat Go -- A prepaid package that includes a Globalstar handset and a bundle of 300 minutes that is well suited for seasonal users.

-- StarFax -- A service that enables users to send and receive fax documents wherever they use their Globalstar satellite phone. StarFax offers the highest fax transmission speed of any mobile satellite phone service at the lowest cost per-page.

-- New simplex data products -- Globalstar's simplex data VARs continued to lower costs and shrink form factors of the devices, with the latest simplex products measuring a mere 5.85 cm x 3.25 cm x 0.5 cm.

-- Enhanced Services -- Other initiatives currently underway include launching prepaid services, increased short message services (SMS) capabilities and other customer oriented infrastructure improvements.

Spare Satellite Launch Progress:

In addition to expanding its terrestrial infrastructure, Globalstar has started to plan the launch of up to eight spare satellites currently in storage in California. Discussions are underway with potential launch service providers and final selection is expected this year.

Reduced Costs:

Globalstar continued to trim operational costs with the objective of passing along savings to its customers. Partly as a result of improved efficiencies, Globalstar can now offer monthly and annual bundled minute plans for its satellite phone services for as low as US$0.14 per minute.

Independent Service Providers:

With reinvigorated support from a robust Globalstar, Independent Service Providers continue to grow their satellite services and product offerings in local markets resulting in increased revenue to Globalstar.

Industry Partnerships with Value Added Resellers:

Globalstar also increased its roster of integrators and VARs to continue to meet the market demand for satellite based communications solutions. Additions included Datalink (oilfield monitoring); Safety-Star (remote worker safety applications); Forest Technologies (environmental monitoring); Teletouch (fleet management solutions via simplex data); and Blue Oceans (vessel monitoring utilizing simplex service).

"Companies are increasingly recognizing the unique value of Globalstar's LEO satellite network," said Monroe. "In addition to providing satellite voice handsets to end users, Globalstar resellers, VARs and application developers are viewing Globalstar as a technology platform on which they can deliver solutions for remote monitoring, business continuity, safety and security, and control systems among other applications."

"Despite the growth of other wireless technologies over the past several years, many businesses operate in regions that can only be reached reliably via satellite," added Monroe. "Over the last year, we've clearly demonstrated how Globalstar continues to evolve to provide the best and most cost-effective solutions to our customers. We look forward to setting the agenda for ongoing growth by introducing more innovative products and services this year and beyond."

About Globalstar

Globalstar offers high value, quality satellite voice and data services to commercial and recreational users from virtually anywhere in more than 120 countries. The company's voice and data products include mobile and fixed satellite units, simplex and duplex satellite data modems and flexible service packages. Many industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include; oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction as well as individual recreational users. Globalstar service is available for as little as US$ 0.14 per minute in the United States.

For more information, visit Globalstar's web site at www.globalstar.com.

Media Contacts:
Susan Radd Dean Hirasawa
Edelman for Globalstar Globalstar LLC
650-429-2740 905-712-6654
Susan.Radd@edelman.com dean.hirasawa@globalstar.com

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May 11, 2005

Cable & Wireless launches residential broadband telephony in the Cayman Islands

GEORGE TOWN, Cayman Islands: Cable & Wireless has announced its new residential broadband telephony Voice over IP (VoIP) service, branded as "NetSpeak," to its customers across all three of the Cayman Islands.

Cable & Wireless' NetSpeak introduces unlimited calling for Cayman residents from the leading telecommunications operator in the Cayman Islands.

NetSpeak is the second VoIP-based product that Cable and Wireless (Cayman Islands) Ltd. has launched in conjunction with Net2Phone, whose fully-managed, hosted platform enables value-added retail products with low-cost options for local and long distance calling.

Click here for the whole article

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Verizon Dominicana Completes Expansion of 3G Wireless Network in Dominican Republic with Nortel Solutions

SANTO DOMINGO, Dominican Republic – Verizon* Dominicana, the principal telecom service provider in the Dominican Republic, has completed an expansion of its nationwide third generation (3G) wireless network with wireless solutions from Nortel* [NYSE/TSX:NT]. The expanded network will meet growing demand for advanced data services through such Nortel solutions as CDMA2000 1X and CDMA2000 1xEV-DO technology.

Nortel completed the expansion through a seamless integration of the new solutions with the rest of Verizon Dominicana’s network. The network transition to increase coverage and availability of 3G services was completely transparent to end-users.

As part of the project, Nortel has deployed a complete CDMA 1X solution for Verizon Dominicana, including radio base stations, base station controllers, switching platforms and other related equipment to significantly boost capacity for wireless data services. This deployment also positions Verizon Dominicana to migrate its network to a packet-based switching platform using Nortel's CDMA Packet MSC (mobile switching center) solution. This solution is designed to reduce operating costs and increase network capacity while at the same time supporting delivery of feature-rich voice and data services.

“Verizon Dominicana prides itself on always offering its customers the most advanced communications services and we chose Nortel’s proven wireless solutions to help us achieve our objective,” said Isaac Madera, director, Network Planning, Verizon Dominicana. “An upgraded 3G network gives us the additional capacity to improve coverage and delivery of 3G data services across our network, while also facilitating the evolution to EV-DO to bring even more sophisticated broadband services to our customers.”

Verizon Dominicana is also running trials of Nortel’s EV-DO solution in selected regional areas in the Dominican Republic. This solution is designed to enable greatly enhanced levels of performance for advanced applications like high-speed mobile broadband Internet access, virtual office, real-time video and other data and multimedia services. EV-DO is a broadband radio technology that can support transmission speeds higher than those currently available using ADSL and cable modems.

Nortel has been working with Verizon Dominicana for over 10 years to deploy advanced networks, including Voice over IP (Internet Protocol), wireless and optical infrastructures, throughout the Dominican Republic. Most recently, Nortel deployed a complete metro optical solution for Verizon Dominicana’s wireline network, based on Nortel Optical Cross-Connect DX and Optical Metro 3500, to consolidate network traffic, provide improved flexibility and reduce operating expenses.

“Nortel has more than 35 years of experience in deploying the same advanced communication solutions in the Caribbean as we do with the largest carriers around the world to help regional operators roll out leading-edge services to their customers on networks that are secure, reliable and cost-effective,” said Kevin Taylor, vice president, Wireless Carrier Networks, Caribbean and Latin America, Nortel. “This project reaffirms our long-standing relationship with Verizon Dominicana and our commitment to continue working with them to provide highly advanced networks that will help enhance the communications experience of their customers in the Dominican Republic.”

Nortel is currently deploying EV-DO, with leading customers around the world, including Verizon Wireless in the United States, Vesper in Brazil, Smartcom in Chile, Pelephone in Israel, Asia Pacific Broadband in Taiwan, Telstra in Australia and Eurotel in the Czech Republic. With its CDMA equipment designed to support EV-DO through modular upgrades to existing hardware, Nortel re-uses existing base station equipment to reduce or eliminate the need for costly hardware replacements while driving reduced operating costs.

Nortel has designed, deployed and launched more than 300 wireless networks in more than 70 countries around the world. Nortel was the first industry supplier to have wireless networks operating in all advanced radio technologies (GSM/GPRS/EDGE, CDMA2000 1X and EV-DO, UMTS and WLAN), and is the only end-to-end supplier of all new-generation wireless solutions.

About Verizon Dominicana

Verizon Dominicana is the leading telecommunications service provider in the Dominican Republic, offering local, long-distance and wireless voice services, together with advanced data services to approximately a million customers. Verizon [NYSE: VZ] is one of the world’s leading providers of communications services, with operations in 40 countries in the Americas, Europe, Asia and the Pacific. For more information, please visit www.verizon.com.**

About Nortel

Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world’s most critical information. Serving both service provider and enterprise customers, Nortel delivers innovative technology solutions encompassing end-to-end broadband, Voice over IP, multimedia services and applications, and wireless broadband designed to help people solve the world’s greatest challenges. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.

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VOIP Caribbean 2005 May 19-20

The transition to IP is taking place aggressively across the Caribbean. Within the past few months Jamaica has awarded licences for the building of new fibre optic cables to link up to the USA and the rest of the world. It is clear that IP across the Caribbean will not wait for the regulatory issues under discussion to be resolved.

Yet critical questions remain, the answers to which may have enormous impact on how VoIP deployment strategies will continue to evolve and how this will affect the Caribbean's access to competitively priced voice and enhanced IP services.

The CTO VoIP Caribbean 2005 Conference will provide you and the Caribbean communications industry, with a unique snapshot of how VoIP roll-out will play out in a region where there is a growing need to accelerate broadband deployment.

Click here for more

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May 6, 2005

Paradise Found: The Dominican Republic's New Westin Roco Ki Beach & Golf Resort Will Feature Native Cultural Influences Set in a Lush Tropical Setting

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--May 4, 2005--

New Westin Resort Breaks Ground Near Punta Cana on the Eastern Shore

Paradise has found a new address - The Westin Roco Ki Beach & Golf Resort, currently under construction in the Dominican Republic and scheduled to open in November 2006. Nestled in a lush tropical landscape on the azure-blue waters of the Caribbean Sea, and adjacent to the white silky sands of Macao Beach, this spectacular resort will be situated near the popular resort area of Punta Cana. Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) will manage the resort under its upper-upscale brand, Westin Hotels & Resorts. The property is owned by Macao Beach Resort, Inc., a subsidiary of Geostar, Inc. which has tourism investments worldwide.

The 315-room resort is taking great care to achieve a harmonious balance between luxurious comfort for guests and the diversity of environments on the property - ocean, wetlands, tropical forests, mangroves, cliffs and rolling hills. The property will feature architecture and exhibits honoring the ancient Taino culture. The resort's name, Roco Ki, which in the Taino language means "honoring the land," reflects the cultural and ecological balance of the area's natural attributes.

"This spectacular and unique resort will be Westin's fifth property in the Caribbean and strengthen the brand's presence in this region," said Sue Brush, senior vice president, Westin Hotels & Resorts. "The Westin Roco Ki will feature a regional and cultural flavor that will strike a chord with our guests who want to experience a distinctive, one-of-a-kind resort."

The resort will include 315 guest accommodations including 20 Jungle Luxe Bungalows, and 56 two and three bedroom luxury condo units. These exotic bungalows celebrate the historical heritage of the site and are the embodiment of the spiritual, tranquil and romantic ambiance the resort will bring to guests. Roco Ki also includes a residential community, comprised of private luxury homes as well as "Cliffside" Villas and Jungle Luxe Bungalows.

All resort guestrooms will be outfitted with Westin's signature Heavenly Bed, the epitome of luxury bedding replete with a sumptuous pillow top mattress, high-thread count sheets, down duvet and down pillows. Guests will also enjoy Westin's Heavenly Bath which consists of custom-designed dual showerheads with a choice of spray options from light mist to massaging needles and amenities which feature plush bathrobes, oversized Brazilian combed cotton bath sheets and invigorating bath products.

The resort will also feature a multitude of world-class amenities including an 18-hole championship Nick Faldo Signature Golf Course managed by Troon, The Spa at Westin Roco Ki, seven restaurants, seven elegant lounges and bars, a gourmet market, six tennis courts, six swimming pools, an aquatic sports complex, marina and over three miles of magnificent white-sand beach. There will also be a two-story, 2,700 square foot Activity Center that will house a Westin Kids Club, arts and crafts rooms, game arcade, movies, lecture hall and evening entertainment.

The resort will have 20,000 square feet of versatile state-of-the-art meeting and conference space in 14 different rooms, the largest accommodating over 700 persons. All public and function space areas will have wireless Internet. The Spa at The Westin Roco Ki Beach & Golf Resort will encompass 18,000 square feet, featuring 15 treatment rooms with specialty treatments that incorporate the rejuvenating methods and natural ingredients indigenous to this tropical region.

Westin Hotels & Resorts, with 121 hotels and resorts in 31 countries and territories, is owned by Starwood Hotels & Resorts Worldwide, Inc. and was ranked "Highest in Guest Satisfaction Among Upscale Hotels Chains." in the J.D. Power and Associates' 2004 North America Hotel Guest Satisfaction Study(SM) and voted Best Domestic Hotel Chain by Global Traveler Magazine. Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 750 properties in more than 80 countries and 120,000 employees at its owned and managed properties. With internationally renowned brands, Starwood(R) corporation is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, and W(R), Hotels and Resorts as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com

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TeleCayman Launches Services in Cayman Islands Based on Nortel Solutions; Next Generation Infrastructure Enables Delivery of Advanced Broadband Applications, Traditional Voice Services

GEORGETOWN, Grand Cayman--(BUSINESS WIRE)--May 4, 2005--TeleCayman has officially launched its service offerings in the Cayman Islands on a next generation network based on Voice over IP (Internet Protocol) technology from Nortel (NYSE:NT)(TSX:NT). The new infrastructure offers local business and residential customers a broad range of telecommunication options including local and international voice, Internet and data services.

"TeleCayman is entering the Cayman Islands market offering customers a viable choice for their telecom needs along with exceptional customer service," said Gloria Glidden, president and chief operating officer, TeleCayman. "Nortel's VoIP solutions allowed us to cost-effectively deploy a robust infrastructure that will help us immediately address today's market needs with sophisticated and reliable services, and that also gives us the flexibility to easily evolve and meet our customers' future requirements."

TeleCayman built a fixed wireless system as its platform to deliver services in the Cayman Islands. The new service provider selected Nortel's Communication Server (CS) 2000, Media Gateways and Ethernet Routing Switches to integrate the core and access portions of the network into a single, reliable packet-switched network that combines voice, data and video traffic. Using this converged IP network, TeleCayman is able to offer local and long-distance telephony, broadband Internet, and hosted and distributed IP services to business and residential customers.

"With a voice over IP network, TeleCayman is well positioned to offer those kinds of leading-edge integrated services that greatly enhance the communication experience of end-users," said Manuel Terrero, vice president, Carrier Packet Networks, Caribbean and Latin America, Nortel. "Nortel's proven VoIP technology gives them the certainty of a secure and reliable infrastructure that is cost-effective in operation while delivering exceptional quality of service."

Running broadband and IP services on a fixed wireless network makes maintaining quality of service the number one challenge, especially when delivering voice over IP. Nortel's CS 2000 Superclass softswitches enable service providers like TeleCayman to deliver the full suite of traditional voice services to business and residential customers on a packetized network, with voice and data traffic sharing the same communications lines to provide more efficient and cost-effective use of existing transmission capacity.

Nortel's Media Gateway (MG) portfolio is designed to unify Carrier VoIP networking across multiple network types, integrating packet traffic into the existing public network infrastructure while simultaneously providing 'toll-quality' voice. In the case of TeleCayman, Nortel's Media Gateway 7400s are interconnecting the infrastructure with other local and international service providers in the Cayman Islands.

About TeleCayman

TeleCayman is licensed by ICTA to offer residents and business customers local and international voice, internet and data using the latest advanced microwave technology. TeleCayman has utilised existing tower infrastructure to create a fixed wireless Internet network using the 3.5 gigahertz frequency band and backhaul technology at a 7.5 gigahertz band. All routers and access equipment along the network are owned and maintained by TeleCayman. From its Network Operations and Control Centre in Cayman Corporate Centre, TeleCayman connects to the world's networks through the Maya 1 Optical Fiber System. TeleCayman's packet-switched networks use state-of-the-art switching platforms and employ encrypted technology to link customer premises to our networks.

About Nortel

Nortel is a recognized leader in delivering communications capabilities that enhance the human experience, ignite and power global commerce, and secure and protect the world's most critical information. Serving both service provider and enterprise customers, Nortel delivers innovative technology solutions encompassing end-to-end broadband, Voice over IP, multimedia services and applications, and wireless broadband designed to help people solve the world's greatest challenges. Nortel does business in more than 150 countries. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news.

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 outcome of regulatory and criminal investigations and civil litigation actions related to Nortel's restatements and the impact any resulting legal judgments, settlements, penalties and expenses could have on Nortel's results of operations, financial condition and liquidity, and any related potential dilution of Nortel's common shares; the findings of Nortel's independent review and implementation of recommended remedial measures; the outcome of the independent review with respect to revenues for specific identified transactions, which review will have a particular emphasis on the underlying conduct that led to the initial recognition of these revenues; the restatement or revisions of Nortel's previously announced or filed financial results and resulting negative publicity; the existence of material weaknesses in Nortel's internal control over financial reporting and the conclusion of Nortel's management and independent auditor that Nortel's internal control over financial reporting is ineffective, which could continue to impact Nortel's ability to report its results of operations and financial condition accurately and in a timely manner; the impact of Nortel's and NNL's failure to timely file their financial statements and related periodic reports, including breach of its support facility and public debt obligations and Nortel's inability to access its shelf registration statement filed with the United States Securities and Exchange Commission ("SEC"); ongoing SEC reviews, which may result in changes to our public filings; the potential delisting or suspension of Nortel's and NNL's publicly traded securities; the impact of management changes, including the termination for cause of Nortel's former CEO, CFO and Controller in April 2004; the sufficiency of Nortel's restructuring activities, including the work plan announced on August 19, 2004 as updated on September 30, 2004 and December 14, 2004, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions;

cautious or reduced spending by Nortel's customers; increased consolidation among Nortel's customers and the loss of customers in certain markets; fluctuations in Nortel's operating results and general industry, economic and market conditions and growth rates; fluctuations in Nortel's cash flow, level of outstanding debt and current debt ratings; Nortel's monitoring of the capital markets for opportunities to improve its capital structure and financial flexibility; Nortel's ability to recruit and retain qualified employees; the use of cash collateral to support Nortel's normal course business activities; the dependence on Nortel's subsidiaries for funding; the impact of Nortel's defined benefit plans and deferred tax assets on results of operations and Nortel's cash flow; the adverse resolution of class actions, litigation in the ordinary course of business, intellectual property disputes and similar matters; Nortel's dependence on new product development and its ability to predict market demand for particular products; Nortel's 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 and consolidation in the telecommunications industry; changes in regulation of the Internet; the impact of the credit risks of Nortel's 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, which is currently not available, of Nortel's forward purchase contracts; negative developments associated with Nortel's supply contracts and contract manufacturing agreements, including as a result of using a sole supplier for a key component of certain Optical Networks solutions; the impact of Nortel's 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; and the future success of Nortel's strategic alliances.

For additional information with respect to certain of these and other factors, see the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed by Nortel with the SEC. Unless otherwise required by applicable securities laws, Nortel 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, the Nortel logo and the Globemark are trademarks of Nortel Networks.

Nortel
Ferngene Kook, 954-858-7101
email: fkook@nortel.com
or
TeleCayman
Sarah Graham, 345-769-1000
email: sarah.graham@telecayman.com

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We're back

Caribbean Telecom News is ending what was nearly a one year hiatus and will begin posting articles and press releases starting today, May 6, 2005.

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