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Nortel Networks and Juniper Networks to Form Alliance to Deliver Powerful Internet Infrastructure Solutions

Atlanta, GA - June 29, 2000 - Nortel Networks® (NYSE/TSE: NT) and Juniper Networks, Inc. (Nasdaq:JNPR) have signed a Memorandum of Understanding to form an alliance to provide a compelling combination of advanced optical and core routing solutions to help service providers and carriers build powerful Internet infrastructures.

The alliance is intended to help service providers realize revenues faster with solutions from Nortel Networks and Juniper Networks. Under the alliance, the two companies will participate in joint marketing, network planning, and implementation. The two companies also will adopt open, multi-vendor, end-to-end network management and service provisioning, such as Nortel Networks' Preside™ serviceware. Nortel Networks will offer a winning solution with Juniper Networks M-series routers, while Juniper Networks can enjoy increased presence in the service provider market through Nortel Networks' installed base of customers. "As a result of this customer-driven alliance, two of the market-leading companies in optical networking and IP infrastructure will represent a new competitive force in the market," said Anil Khatod, president, Global Internet Business Solutions, Nortel Networks. "By delivering leading-edge solutions to our mutual customers, Nortel Networks and Juniper Networks are accelerating the build-out and deployment of global Internetworking. This is beneficial first to our customers and to both companies."

The alliance between Nortel Networks and Juniper Networks will deliver high-performance networks based on open standards and will work to ensure interoperability between high-performance optical networking and core routing technologies.

"Customers are looking for interoperable solutions with best-in-class products," said Scott Kriens, CEO and President, Juniper Networks. "This alliance delivers those solutions. Nortel Networks and Juniper Networks are driving the high-performance Internet to be more reliable and faster than ever before. The strengths of our companies will make it possible to deliver advanced IP services that will eliminate bottlenecks and meet the speed and bandwidth demands of emerging applications such as streaming video, voice over IP, and multicast."

Nortel Networks' Optical Internet portfolio carries 75 percent of Internet traffic in North America and 50 percent in Europe, according to analyst firms RHK and The Yankee Group, respectively. Juniper Networks backbone routers are currently deployed in most of the world's largest IP networks - complementing Nortel Networks' current Optical Internet portfolio. Nortel Networks and Juniper Networks were the first to introduce and ship 10-Gigabit implementation on optical and packet products, respectively.

"The alliance accelerates 'speed-to-benefit' through the integration of leading product portfolios in an open, multi-vendor environment," said Andy MacLeod, executive vice president, Global Network Operations, Cable and Wireless. "The joint marketing, network planning, and implementation within this alliance allow us, as a customer of both companies, to realize revenues faster."

"The alliance makes a lot of sense and certainly bodes well for service providers interested in deploying technologies supporting the Optical Internet," said Mike Gaddis, CEO and founder of CoreExpress. "CoreExpress is leveraging both Nortel Networks and Juniper Networks leading technologies as we deliver the first solution to guarantee extranet communication across multiple ISPs. This alliance promises to make it even easier for us to deliver increased user benefits. We are very excited to see strategic suppliers working together on this level."

The two companies are in the process of finalizing the alliance documentation.

About Juniper Networks, Inc.

Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. The company's purpose-built systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service, manufacturing teams, and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California. For more information, please contact the company at 408-745-2000 or visit the Web site at https://www.juniper.net. Juniper Networks is a registered trademark of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks may be the property of their respective owners.

About Nortel Networks

Nortel Networks is a global leader in telephony, data, eBusiness, and wireless solutions for the Internet. The Company had 1999 U.S. GAAP revenues of US$21.3 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. Visit us at www.nortelnetworks.com.

Nortel Networks, the Nortel Networks logo, the Globemark, Unified Networks, Preside and How the world shares ideas are trademarks of Nortel Networks.

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 impact of price and product competition; the dependence on new product development; the impact of rapid technological and market change; the ability of Nortel Networks and/or Juniper Networks to make acquisitions and/or integrate the operations and technologies of acquired businesses in an effective manner; general industry and market conditions and growth rates; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of consolidations in the telecommunications industry, the uncertainties of the Internet; stock market volatility; the ability of Nortel Networks and/or Juniper Networks to recruit and retain qualified employees; and the impact of increased provision of customer financing by Nortel Networks and/or Juniper Networks. For additional information with respect to certain of these and other factors, see the reports filed by Nortel Networks and Juniper Networks with the United States Securities and Exchange Commission. Nortel Networks and Juniper Networks disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.