Nortel Networks Corporation – 158

July 27, 2009

Canadian Claims Procedure Not Applicable to Pensioners and Former Employees

Nortel is seeking court approval of a Claims Procedure for the company’s creditors in Canada, which will require non-employment related claims to be filed by September 30, 2009. THIS CLAIMS PROCESS DOES NOT APPLY TO CANADIAN PENSIONERS OR FORMER EMPLOYEES OF NORTEL. KM is negotiating a separate simplified claims process for all Former Employees, including pensioners, whereby we will prepare the original claims with data from the company and Monitor and send them out to people for verification. This way  individuals will not be in the difficult position of having to calculate and submit their own claims. TRAs will be included in this separate Claims Procedure, as will any lost benefits, including pension and health benefits. Once we have determined the process for Pensioners and other Former Employees, we will post information about it on our website.

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