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Nortel Announces New Credit Solution for Resellers Backed by IBM Global Financing

Simple and Flexible Financing a Key Enabler for the Communications Channel

ARMONK, NY - 03 Apr 2008: IBM (NYSE: IBM) has teamed up with Nortel (NYSE: NT), a recognized leader in delivering innovative communications technology solutions, to offer eligible Nortel Resellers commercial lines of credit that can be used to purchase Nortel communications products and solutions. The program is being sponsored by Nortel Enterprise Financing Solutions (NEFS) and will be offered by IBM Global Financing (IGF), the lending and leasing business segment of IBM.

As part of the program, eligible resellers in the United States and Canada who apply for and receive an IBM Global Financing line of credit will receive 60 days of interest-free financing for all Nortel Enterprise products and services purchased from Nortel-authorized Stocking Distributors: Ingram Micro, Inc., Ingram Micro Canada, Inc., SYNNEX Corporation, Tech Data Product Management Inc., Tech Data Canada, Inc., Westcon Group North America, Inc., Westcon Canada Systems (WCSI) Inc. and financed on the reseller's IBM Global Financing line.

"Simple and flexible financing has become a key enabler for resellers in the telecommunications channel," said David Wilkinson, vice president, Channel Strategy and Inside Sales, Nortel. "This interest-free opportunity designed within Nortel-IBM financing program will provide strong incentive to qualified resellers looking to hit their sales targets."

Nortel Resellers can apply for lines of credit to purchase Nortel products and services via the Web through the recently launched IBM Flexible Credit™ online financing tool. Applications can be processed over the Internet for credit lines up to $500,000. For credit lines greater than $500,000, Nortel Resellers can contact Ray Ramos at 203-981-0371 to learn more about IGF's Inventory Financing programs.

With IBM Flexible Credit™, resellers can take advantage of an easy flexible payment option to pay for Nortel solutions. Usually, resellers can benefit from "no-interest payment charges" for varying financing periods of 30 to 45 days. Under this new offering, Nortel is extending that period to 60 days. Unpaid balances will accrue a low, competitive interest rate per month with flexible repayment options.

"Nortel's commitment to the market is 'Business Made Simple' and we believe the Nortel-IGF financing partnership delivers on this promise by providing simple and flexible financing opportunities to access Nortel's industry leading communications solutions," said Mario Bernardis, vice president, IGF Commercial Financing division.

Additional terms and conditions may apply. For more information, visit http://www-03.ibm.com/financing/us/nortel/

Nortel-IBM Global Financing Inventory Financing Offer for Resellers:

About IBM Global Financing
IBM Global Financing (IGF), the financing business segment of IBM and the world's premier single-source provider for multi-vendor IT financing solutions, serves commercial clients ranging from small businesses to more than 90% of the Global Fortune 100. With assets of $34 billion worldwide, IGF provides project financing, Commercial Financing and asset-recovery services to 125,000 clients in more than 50 countries. Additional information can be found at www.ibm.com/financing/

About NORTEL
For more information about Nortel, visit http://www.nortel.com/

Contact(s) information

For Press Inquiries
Fred Clarke (IBM)
Office: 914-765-6700
Cell: 914-715-5986
fredc@us.ibm.com

For Reseller Inquiries about the Nortel-IBM Program
Ray Ramos (IBM Global Financing)
Office: 203-981-0371

rayramos@us.ibm.com

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