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NEW YORK — The World Economic Forum's Logistics & Transport Industry Group, supported by Accenture (NYSE: ACN), has agreed to standard guidelines for calculating consignment-level carbon emissions from logistics and shipping operations. The Consignment-Level Carbon Reporting Guidelines, developed with Accenture, will help the industry inform consumers and businesses about the carbon impact of product transport.

The guidelines come at a time when consumer interest in the carbon footprints of the products they buy is growing. For example, a recent Accenture survey found that 90 percent of consumers would be willing to switch to a new product if it was certified as minimizing its impact on climate change, while another Accenture survey found that 98 percent of Chinese consumers would pay a premium for consumer electronics products that are marketed as environmentally friendly.

'Logistics and transportation providers face growing demand from their retail and manufacturing customers to report the carbon emissions generated by the shipping and handling of their products,' said Jonathan Wright, senior executive in Accenture's Supply Chain Management practice. 'These guidelines will help them work toward providing consumers with carbon footprint information for individual products.'

The guidelines were endorsed by the Governors of the World Economic Forum's Logistics & Transport Industry Group at the organization's recent annual meeting in Davos, Switzerland and include principles for defining the scope of emissions to report and how these emissions should be allocated in cases such as shared transport or backhaul. They complement broader upcoming and existing product-level carbon reporting standards including the GHG Protocol Life Cycle and Scope 3 Standards, which are expected to be released at the end of 2010.

'By providing accuracy and consistency in carbon reporting, these guidelines help companies to compete meaningfully on environmental efficiency,' said Sean Doherty, head of Logistics & Transport Industry at the World Economic Forum.

Read the full Consignment-Level Carbon Reporting Guidelines or view this video of Accenture's Jonathan Wright who discusses the guidelines. For further details, please read Consignment-Level Carbon Reporting: Background to Guidelines.

About Accenture
Accenture is a global management consulting, technology services and outsourcing company, with more than 176,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.58 billion for the fiscal year ended Aug. 31, 2009. Its home page is www.accenture.com.

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PSAs Featuring Scholastic Media's Maya & Miguel and Warner Bros.' Looney Tunes' Legendary Characters, along with Top Athletes, Encourage Children to Play Every Day

WASHINGTON, D.C., – As part of First Lady Michelle Obama's Let's Move! initiative, she has partnered with the U.S. Department of Health and Human Services and the Ad Council today launched a new series of public service advertisements (PSAs) designed to address childhood obesity. The ads feature Warner Bros.' legendary Looney Tunes characters Bugs Bunny, Daffy Duck, Tweety and Taz, as well as Scholastic Media's Maya & Miguel, as an extension of HHS' Childhood Obesity Prevention campaign, which encourages children and families to lead healthy lifestyles.

Earlier today, the First Lady Michelle Obama kicked off the national campaign Let's Move!, building on effective strategies at all levels and in all sectors, to engage families and communities and mobilize both public and private sector resources to solve the childhood obesity challenge within one generation.

Created pro bono by Warner Bros. Consumer Products and Scholastic Media, the PSAs leverage the fun aspects and family appeal of each partner's characters to reach children with important messages about being healthy.

One series of ads features the Looney Tunes characters as they are paired up with professional athletes to deliver an active lifestyle message that tells kids you don't have to be a pro to "Be A Player." The Looney Tunes' beloved characters appear alongside New Orleans Saints quarterback Drew Brees and Oklahoma City Thunder forward Kevin Durant. These ads were developed in collaboration with the NFL PLAY 60 and NBA FIT initiatives. In addition, pro skateboarder Tony Hawk and Olympic Gold Medalist Misty May-Treanor are featured in PSAs aimed at promoting a healthy lifestyle and increasing physical fitness for kids.

Another series of PSAs guided by the creative expertise of ad agency Casanova Pendrill, features Maya & Miguel (commonly seen on PBS KIDS GO!) and encourages children to the "Take the Maya & Miguel Challenge" as a way to get more physically active and eat healthy. The Maya & Miguel materials produced by Scholastic were created in both English and Spanish to leverage the characters' strong appeal to all Hispanic families, as well as general audiences.

"We are delighted to join Michelle Obama and the Department of Health & Human Services in their efforts to encourage children throughout the country to lead healthier lifestyles," said Peggy Conlon, president and CEO of the Ad Council. "These new PSAs are a wonderful extension of our ongoing campaign, and Mrs. Obama's new Let's Move! initiative, and I believe children will be encouraged by the characters and athletes that they admire, and ultimately, motivated to get healthy."

According to HHS' Centers for Disease Control and Prevention, the percentage of young people who are overweight has more than tripled since 1980, with more than 9 million school age children over the age of 6 in the U.S. considered overweight. In addition to the psychological and social issues of stigmatization, overweight children are at far greater risk of growing into adults who have cardiovascular disease, Type 2 diabetes, and other chronic diseases that may reduce the length and quality of their lives. A CDC report found that the health cost of obesity in the U.S. is as high as $147 billion annually.

The full PSA campaign will be distributed to media outlets nationwide in March. The PSAs are an extension of HHS' and the Ad Council's "Get Up and Play" campaign, the TV, radio, print, outdoor and Web PSAs encourage children to participate in activities that they enjoy in an effort to be more physically active. The overall campaign reminds kids and their families that playing an hour each day is an important part of being healthy and demonstrates the fun they can have doing it. Each series of PSAs directs audiences to the First Lady's new website www.letsmove.gov, where they will find links to the HHS and Ad Council sponsored www.SmallStep.gov, a fun interactive destination that provides helpful information on healthy eating and physical activity.

"We are honored that the Looney Tunes characters are supporting Michelle Obama, the Department of Health and Human Services and the Ad Council in this campaign to combat the problem of childhood obesity in the United States," said Brad Globe, president, Warner Bros. Consumer Products. "Bugs Bunny, Daffy Duck, Tweety and Taz uniquely deliver this important message in an entertaining way, and are the perfect ambassadors of fun and active lifestyles for families across the country."

The PSAs are a continuation of the Ad Council and HHS' successful Childhood Obesity Prevention campaign that first launched in 2005 and the Ad Council's Coalition for Healthy Children initiative, which encourages marketers and the media to adopt consistent healthy lifestyle messages. Previous PSAs for the campaign and Coalition have featured characters from DreamWorks' Shrek, Warner Bros. Pictures' Where the Wild Things Are film, NFL players, LPGA athletes and U.S. Olympic Gold Medalists. The NFL, NBA, Warner Bros. Entertainment and Scholastic are each participants in the Ad Council's Coalition.

Per the Ad Council's model, all of the new PSAs will run and air in advertising time and space that is donated by the media. To date, the Childhood Obesity Prevention campaign has received more than $179 million in donated media support and more than 1 in every 3 children between the ages of 6 to 12 yrs. has reported recognizing the campaign. Furthermore, in 2009, children said they cared more about getting enough physical activity than they did prior to launching the campaign's first round of PSAs in 2005 (68 percent in 2009 vs. 55 percent in 2005).

U.S. Department of Health & Human Services
The Department of Health and Human Services is the United States government's principal agency for protecting the health of all Americans and providing essential human services, especially for those who are least able to help themselves. The department includes more than 300 programs, covering a wide spectrum of activities, including medical and social science research, preventing outbreak of infectious disease, including immunization services, assuring food and drug safety, welfare, and Medicare and Medicaid.

The Advertising Council
The Ad Council (www.adcouncil.org) is a private, non-profit organization that marshals talent from the advertising and communications industries, the facilities of the media, and the resources of the business and non-profit communities to produce, distribute and promote public service campaigns on behalf of non-profit organizations and government agencies. The Ad Council addresses issue areas such as improving the quality of life for children, preventive health, education, community well-being, environmental preservation and strengthening families.

The goal of the Ad Council's Coalition for Healthy Children is to help address the obesity crisis that confronts our nation and its children. Its mission is to provide clear, consistent, research-based messages to children and parents on the importance of practicing a healthier lifestyle and offer them the means to do it. This can be achieved by harnessing the combined strengths of marketers, media companies, non-profit groups and government agencies. The Coalition's members have made a commitment to the promotion of healthy living to our nation's families and have agreed to incorporate the Coalition's messages into their own communications programs. For more information about the Coalition, please visit www.HealthyChildrenCoalition.org.

LOONEY TUNES and all related characters and elements are trademarks of and © Warner Bros. Entertainment Inc.

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NEW DELHI — Boeing [NYSE: BA] will present world-class products and services including the F/A-18IN Super Hornet, C-17 Globemaster III, P-8I, AH-64D Apache and CH-47F Chinook to Indian government officials, military officers, and other valued stakeholders at Defexpo 2010. The exhibition takes place Feb. 15-18 at the Pragati Maidan complex in New Delhi.

"This is an important year for Boeing Defense, Space & Security (BDS) in India," said Vivek Lall, BDS vice president and India country head. "Many of our products and platforms are currently in competition or under active consideration by the government, and we are looking forward to demonstrating how they will quickly contribute to India's defense modernization and bring long-term industrial benefits to the nation."

Boeing is kicking off its Defexpo participation with a preshow briefing for the media at noon on Thursday, Feb. 11, at the Taj Mansingh Hotel. During the show, BDS executives will invite stakeholders into an F/A-18IN Super Hornet cockpit simulator to demonstrate the aircraft's advanced features, including its superior air-to-ground and air-to-air capabilities. Boeing also will provide media briefings on the C-17 Globemaster III and on two Boeing Rotorcraft products in current competitions — the CH-47F Chinook and AH-64D Apache. An Airborne Battle Management briefing will cover Airborne Early Warning and Control as well as the P-8I long-range maritime patrol and anti-submarine aircraft. India selected the P-8I for its navy last year; the first of eight aircraft is scheduled to enter the fleet in 2013.

Boeing's online press kit at www.boeing.com/bds/mediakit/2010/defexpo will be updated throughout the show with presentations from the briefings and schedule changes, if any. The site also contains program backgrounders, executive biographies and a link to high-resolution photos.

Note: All briefing times are local to New Delhi.

Thursday, Feb. 11 – Taj Mansingh Hotel
1200: Boeing India overview with Boeing India President Dinesh Keskar and BDS Vice President and Country Head Vivek Lall

Tuesday, Feb. 16 – Defexpo Conference Hall
1445: C-17 Globemaster III briefing with Business Development lead Patrick Druez

Wednesday, Feb. 17 – Defexpo Conference Hall
1200: Rotorcraft briefing with Business Development leads Dean Millsap and Wes Spreen

1400: Airborne Battle Management briefing with New Business Development Director Tim Norgart

A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $34 billion business with 68,000 employees worldwide.

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BASKING RIDGE, N.J. – Avaya today announced the appointment of John DiLullo as vice president, Americas International sales theater, which includes Canada, the Caribbean and Latin America.

In this new role, DiLullo is responsible for leading all of the company's operations across the region, including sales, marketing, customer care and management of Avaya's country offices. He reports to Todd Abbott, senior vice president, Global Sales and Marketing and president, Field Operations, Avaya.

Most recently, DiLullo led Avaya's Asia Pacific region where he was responsible for leading all of the company's operations there.

"John DiLullo's broad industry background and track record of successfully leading diverse and wide-ranging organizations will be invaluable for leading the Americas International sales theater and positioning Avaya for growth," said Todd Abbott, senior vice president, Global Sales and Marketing and president, Field Operations, Avaya.

Prior to joining Avaya, Dilullo was vice president, Worldwide Sales, Channels and Field Operations, SonicWall, Inc. He also was vice president, Worldwide Distribution, Cisco Systems.

About Avaya
Avaya is a global leader in enterprise communications systems. The company provides unified communications, contact centers, and related services directly and through its channel partners to leading businesses and organizations around the world. Enterprises of all sizes depend on Avaya for state-of-the-art communications that improve efficiency, collaboration, customer service and competitiveness. For more information please visit www.avaya.com.

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BIRMINGHAM – Following unprecedented financial results in 2009, the Birmingham branch of Aon – the UK's largest insurance broker – has made six promotions to build on its success and nurture its talent to deliver excellent service for its Midlands clients.

The promotions include:

Lisa Tolley – Broking Manager (previously Client Service Advisor at Aon for over two years)
Paula Bond – Client Service Manager (previously Client Service Advisor with 14 years experience at Aon)
Lisa Walters – Client Service Manager (previously Client Service Advisor and Aon employee for 11 years)
Rebecca Edwards – Client Manager (previously Client Service Advisor and at Aon for 4 years)
Lucy Clarke – Client Service Advisor (previously Business Support Officer and employed at Aon for 18 months)
Elizabeth Polley – Client Service Advisor (previously Business Support Officer at Aon for nearly two years)

Lisa Bartlett, branch director at Aon in Birmingham, said: 'Aon Birmingham has experienced fantastic expansion and unprecedented financial results over the last 12 months. In turn we are recognising and building upon the talents of those who have help us achieve such success.

'Paula and Lisa Walters have been able to realise their ambition to undertake managerial roles, while Lisa's secondment into the broking team to learn new skills was so successful that her temporary role was made permanent.

'Great feedback from her clients influenced the decision to promote Rebecca who was keen to take the next step in her career within Aon. In addition, Lizzie & Lucy have made a fantastic start to their insurance career by making the most of Aon's internal pool of experience to move into the client servicing arena.'

About Aon
Aon Corporation (NYSE: AON) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting. Through its more than 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries. Named the world's best broker by Euromoney magazine's 2008 and 2009 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008 and 2009. A.M. Best deemed Aon the number one insurance broker based on brokerage revenues in 2007, 2008, and 2009, and Aon was voted best insurance intermediary, best reinsurance intermediary and best employee benefits consulting firm in 2007, 2008 and 2009 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com.

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LA Testing provides affordable lead testing solutions to parents, property owners and environmental professionals.

Los Alamitos, CA

A new study from Johns Hopkins Children's Center shows that very low levels of lead may be having an adverse impact on children's kidney functions. The U.S. Centers for Disease Control and Prevention (CDC) lists 10 micrograms of lead per deciliter of blood as the level of concern, but this new report shows even lower levels are hazardous.

The study was conducted on 769 healthy people between the ages of 12 and 20. The participants had an average lead level of 1.5 micrograms and more than 99% of them were below the CDC's 10 microgram listing. Researchers discovered that those individuals with lead levels in the upper quarter of the normal range had worse kidney functions than those with lower lead levels.

The use of lead in many consumer products in the United States has been drastically reduced in the last several decades, but dangers still persist. Lead paint, for example, has been banned since 1978 yet it is believed that about one in five homes still have lead paint hazards. As lead contaminated paints age they deteriorate and can become airborne or settle as dust.

Lead is of particular concern to young children as their growing bodies can absorb more lead and their brain and nervous systems are more sensitive. Lead can even harm babies before they are born. According to the EPA, 'to reduce your child's exposure to lead, get your child checked, have your home tested and fix any hazards you may have.'

LA Testing, an affiliate of EMSL Analytical, is a leading provider of lead testing laboratory services and products to clients across the West Coast. 'This new report highlights dangers that even small amounts of lead may be much more hazardous than the scientific community previously thought,' reported Ben Sublasky, National Director of Client Services for LA Testing and EMSL Analytical.

To learn more about lead and other environmental testing services please visit www.LATesting.com, email info@LATesting.com or call (800) 755-1794.

About LA Testing and EMSL Analytical, Inc.
LA Testing and EMSL Analytical are providers of environmental testing services and products to professionals and the general public. The companies have an extensive list of accreditations from leading organizations as well as state and federal regulating bodies.

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'The East Riverside new-home market remains a market searching for a bottom' notes Robert Martinez, Director of Research at MarketPointe™ Realty Advisors, Inc. The fourth quarter of 2009 marks the fifth net sales decline in the last two years. Since the market peaked in 2004 with more than 5,800 net sales, total volume has fallen every year: with 2009 ending with fewer than 1,000 net sales. The last time East Riverside had less than 1,000 net sales was 1992. Last quarter's overall net sales showed a 23 percent decline from the previous quarter, also the worst fourth quarter total since 1992. This decline is represented by a 64 percent net sales decline in the attached sector and a 21 percent decline in the detached.

Not surprisingly, the overall weighted average price also fell last quarter. The 14 percent drop was primarily due to a poor showing in the detached sector, which dropped more than 15 percent. The attached sector actually saw an increase of 32 percent in the weighted average price as the weighted average home size grew by 27 percent.

ResidentialTrends™ also reported a decline in inventory levels for East Riverside County by 6 percent over the previous quarter. At current sales rates, this offered an unsold inventory represents close to 22 months of attached supply with the detached supply lasting roughly four months. Future phase inventory continues to hold the bulk of total inventory with over 13 years of supply in unreleased active developments in the attached sector and approximately four years of detached.

MarketPointe™ Realty Advisors, Inc. provides new housing market statistics throughout California via its ResidentialTrends™ new-home database and its LandTracker™ proposed development database, as well as site specific, tailored housing market research and consulting services. Comprehensive 'Housing Market Overviews' providing new home sales, pricing, housing inventory trends, future housing supply, and new and leading developments are available for regions across California by going to www.marketpointe.com/landing. Phone San Diego at 619-233-3781, Orange County at 714-528-2554 or Sacramento at 916-710-1396; url:www.marketpointe.com.

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Shift from 'defensive' to 'offensive' tactics in light of recovery

New York – Since initiating its year-long study of global talent trends and strategies, Deloitte U.S. reveals in its latest research report that economic optimism has reached its highest level among surveyed executives since the study's inception. According to Deloitte's December 2009 survey, more than one-third of the 335 surveyed executives now believe the worst of the recession is behind us as companies look to move forward to find the right balance between offensive and defensive talent strategies.

'Looking into the recovery, companies can no longer depend on the recession as their primary retention strategy for keeping critical employees,' said Jeff Schwartz, Global Organization and Change Leader, Deloitte Touche Tohmatsu. 'We expect executives to continue to shift their talent portfolios from 'defensive' measures, such as cutting headcount and focusing primarily on costs, to 'offensive' programs, including retention of critical leaders and workers and increased spending on training and development with a focus on leadership. In addition, our research shows that companies committed to leadership programs maintained their focus during the recession and are continuing to invest in developing new career paths for their top performers.'

Since January 2009, Deloitte U.S. has been conducting a longitudinal survey to gauge how senior executives and talent managers are positioning their workforces, both in deep recession and emerging recovery. The results of the December survey–the final edition in Deloitte's year-long, longitudinal survey of global talent trends and strategies–revealed the following key findings:

Companies are (cautiously) optimistic

* In December, more than one-third (35 percent) of the executives surveyed predicted the worst of the economic crisis is behind us–the highest level of economic confidence since the survey began in January 2009.
* Cutting and managing costs remains the top strategic issue for the executives surveyed in December, just as it has in every previous survey. However, 50 percent of surveyed executives named 'acquiring/serving/retaining' customers as a strategic issue capturing the most management attention.

Talent priorities are shifting, albeit slowly

* Reducing employee headcount remained the leading current talent priority, ranked No. 1 by 35 percent of the executives and talent managers who participated in this survey, followed by retention (28 percent) and training and development (25 percent).
* A ranking of talent priorities over the next three months produced a virtual dead heat, with reducing employee headcount at 31 percent, training and development at 29 percent and retention at 27 percent.
* Heading into the first quarter of 2010, only 39 percent of talent managers and executives who participated in this survey anticipate additional layoffs in the next three months, compared to 51 percent who see no layoffs on the horizon.

Training and development yield world-class talent

* More than four in 10 executives surveyed expect their companies to increase programs aimed at developing high potential employees (47 percent) and cultivating corporate leaders (43 percent).
* Nearly three-quarters of surveyed executives believe that leadership development was either critically important (27 percent) or very important (45 percent) at their companies. And, an overwhelming eight out of 10 either agreed (55 percent) or strongly agreed (25 percent) that their companies have a clear leadership development strategy.
* Despite near universal agreement on the importance of leadership programs, surveyed executives do not have a high sense of confidence about their efforts in this area. Only 10 percent of survey participants describe their leadership initiatives as 'world-class across the board.'
A copy of this report series and Deloitte's latest information about talent strategies and innovative talent and work solutions are available via Deloitte's Talent Management website. This report is also on the Forbes Insights website. Deloitte U.S. will publish a comprehensive study tracking the shifts in talent strategies, trends and tactics throughout the entire 2009 longitudinal survey this spring.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's approximately 169,000 professionals are committed to becoming the standard of excellence.

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TORONTO – Nortel* Networks Corporation [OTC: NRTLQ] today announced that it, Nortel Networks Limited and their Canadian subsidiaries that have filed for creditor protection under CCAA (collectively, Nortel), have reached an agreement on certain employment related matters regarding former Canadian Nortel employees, including Nortel's Canadian registered pension plans and benefits for Canadian pensioners and Nortel employees on long term disability (LTD).

Nortel entered into a Settlement Agreement with court-appointed representatives of its Canadian former employees, pensioners and LTD beneficiaries, the court-appointed representative counsel to such parties, Koskie Minsky LLP, the CAW Canada and Nortel's court-appointed Monitor. The Settlement Agreement is subject to, among other things, the approval of the Ontario Superior Court of Justice.

The Settlement Agreement provides that Nortel will continue to administer the Nortel Networks Negotiated Pension Plan and the Nortel Networks Limited Managerial and Non-Negotiated Pension Plan until September 30, 2010, at which point these pension plans will be transitioned, in accordance with the Ontario Pension Benefits Act, to a new administrator appointed by the Superintendent of Financial Services. Nortel and the Monitor will take all reasonable steps to complete the transfer of the administration of the pension plans to the new administrator. Nortel will continue to fund these pension plans consistent with the current service and special payments it has been making during the course of the CCAA proceedings through March 31, 2010, and thereafter will make current service payments until September 30, 2010.

For the remainder of 2010, Nortel will continue to pay medical and dental benefits to Nortel pensioners and survivors and Nortel LTD beneficiaries in accordance with the current benefit plan terms and conditions. Life insurance benefits will continue unchanged until December 31, 2010 and will continue to be funded consistent with 2009 funding. Further, Nortel will pay income benefits to the LTD beneficiaries and to those receiving survivor income benefits and survivor transition benefits through December 31, 2010, which payments will be made directly by Nortel. The employment of the LTD beneficiaries will terminate on December 31, 2010. The parties have agreed to work toward a court-approved distribution, in 2010, of the assets of Nortel's Health and Welfare Trust, the vehicle through which Nortel generally has historically funded these benefits, with the exception noted above.

The Settlement Agreement also provides that Nortel will establish a fund of CDN$4.2 million for termination payments of up to CDN$3,000 per employee to be made to eligible terminated employees as an advance against their claims under CCAA.

"We are pleased to have come to a resolution on these important matters," said David Richardson, Chairman, Nortel. "We understand the need to provide clarity to former employees as well as several months of certainty that will allow beneficiaries to make alternate plans. The Board of Directors and Nortel's management team have been working diligently with its advisors and stakeholders to reach an agreement that is as fair as possible in the circumstances, and that will result in almost two years of medical, dental and LTD coverage, an unusually lengthy period of time for companies under CCAA. It is expected that in aggregate, for the period from filing for creditor protection until the respective end dates announced today, Nortel will pay approximately CDN$100 million to the pension plans and towards benefits".

Under the Settlement Agreement, any claim made by any party in relation to the matters settled under the agreement will rank as ordinary unsecured claims under the CCAA proceedings. A charge in the maximum amount of CDN$57 million on Nortel's assets will be established to secure the payments to be made by Nortel under the Settlement Agreement, which amount shall be reduced by the amount of payments made.

About Nortel

For more information, visit Nortel on the Web at www.nortel.com . For the latest Nortel news, visit www.nortel.com/news .

Certain statements in this press release may contain words such as "could", "expects", "may", "should", "will", "anticipates", "believes", "intends", "estimates", "targets", "plans", "envisions", "seeks" and other similar language and are considered forward-looking statements or information under applicable securities laws. These statements are based on Nortel's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which Nortel operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. Nortel's assumptions, although considered reasonable by Nortel at the date of this press release, may prove to be inaccurate and consequently Nortel's actual results could differ materially from the expectations set out herein.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of the following: (i) risks and uncertainties relating to the Creditor Protection Proceedings including: (a) risks associated with Nortel's ability to: stabilize the business and maximize the value of Nortel's businesses; obtain required approvals and successfully consummate pending and future divestitures; ability to satisfy transition services agreement obligations in connection with divestiture of operations; successfully conclude ongoing discussions for the sale of Nortel's other assets or businesses; develop, obtain required approvals for, and implement a court approved plan; resolve ongoing issues with creditors and other third parties whose interests may differ from Nortel's; generate cash from operations and maintain adequate cash on hand in each of its jurisdictions to fund operations within the jurisdiction during the Creditor Protection Proceedings; access the EDC Facility given the current discretionary nature of the facility, or arrange for alternative funding; if necessary, arrange for sufficient debtor-in-possession or other financing; continue to have cash management arrangements and obtain any further required approvals from the Canadian Monitor, the U.K. Administrators, the French Administrator, the Israeli Administrators, the U.S. Creditors' Committee, or other third parties; raise capital to satisfy claims, including Nortel's ability to sell assets to satisfy claims against Nortel; maintain R&D investments; realize full or fair value for any assets or business that are divested; utilize net operating loss carryforwards and certain other tax attributes in the future; avoid the substantive consolidation of NNI's assets and liabilities with those of one or more other U.S. Debtors; attract and retain customers or avoid reduction in, or delay or suspension of, customer orders as a result of the uncertainty caused by the Creditor Protection Proceedings; maintain market share, as competitors move to capitalize on customer concerns; operate Nortel's business effectively under the new organizational structure, and in consultation with the Canadian Monitor, and the U.S. Creditors' Committee and work effectively with the U.K. Administrators, French Administrator and Israeli Administrators in their respective administration of the EMEA businesses subject to the Creditor Protection Proceedings; continue as a going concern; actively and adequately communicate on and respond to events, media and rumors associated with the Creditor Protection Proceedings that could adversely affect Nortel's relationships with customers, suppliers, partners and employees; retain and incentivize key employees and attract new employees as may be needed; retain, or if necessary, replace major suppliers on acceptable terms and avoid disruptions in Nortel's supply chain; maintain current relationships with reseller partners, joint venture partners and strategic alliance partners; obtain court orders or approvals with respect to motions filed from time to time; resolve claims made against Nortel in connection with the Creditor Protection Proceedings for amounts not exceeding Nortel's recorded liabilities subject to compromise; prevent third parties from obtaining court orders or approvals that are contrary to Nortel's interests; reject, repudiate or terminate contracts; and (b) risks and uncertainties associated with: limitations on actions against any Debtor during the Creditor Protection Proceedings; the values, if any, that will be prescribed pursuant to any court approved plan to outstanding Nortel securities and, in particular, that Nortel does not expect that any value will be prescribed to the NNC common shares or the NNL preferred shares in any such plan; the delisting of NNC common shares from the NYSE; and the delisting of NNC common shares and NNL preferred shares from the TSX; and (ii) risks and uncertainties relating to Nortel's business including: the sustained economic downturn and volatile market conditions and resulting negative impact on Nortel's business, results of operations and financial position and its ability to accurately forecast its results and cash position; cautious capital spending by customers as a result of factors including current economic uncertainties; fluctuations in foreign currency exchange rates; any requirement to make larger contributions to defined benefit plans in the future; a high level of debt, arduous or restrictive terms and conditions related to accessing certain sources of funding; the sufficiency of workforce and cost reduction initiatives; any negative developments associated with Nortel's suppliers and contract manufacturers including Nortel's reliance on certain suppliers for key optical networking solutions components and on one supplier for most of its manufacturing and design functions; potential penalties, damages or cancelled customer contracts from failure to meet contractual obligations including delivery and installation deadlines and any defects or errors in Nortel's current or planned products; significant competition, competitive pricing practices, industry consolidation, rapidly changing technologies, evolving industry standards, frequent new product introductions and short product life cycles, and other trends and industry characteristics affecting the telecommunications industry; any material, adverse affects on Nortel's performance if its expectations regarding market demand for particular products prove to be wrong; potential higher operational and financial risks associated with Nortel's international operations; a failure to protect Nortel's intellectual property rights; any adverse legal judgments, fines, penalties or settlements related to any significant pending or future litigation actions; failure to maintain integrity of Nortel's information systems; changes in regulation of the Internet or other regulatory changes; and Nortel's potential inability to maintain an effective risk management strategy.

For additional information with respect to certain of these and other factors, see Nortel's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC. Unless otherwise required by applicable securities laws, Nortel disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.

*Nortel, the Nortel logo and the Globemark are trademarks of Nortel Networks

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Louisville, UPS (NYSE:UPS) today announced plans to furlough at least 300 of its airline pilots, but at the same time continued its effort to find a solution with the pilots' union that would avert or mitigate the layoffs before they take effect. UPS employs about 2,800 pilots.

UPS has been working with its union, the Independent Pilots Association, for the past year to identify ways to cut operating costs to avoid any pilot furloughs.

Last June, the IPA identified significant savings through voluntary programs such as pilots taking short- and long-term leaves of absence; military leaves; job sharing; reduction in flight pay guarantees; early retirement, and sick bank contributions. UPS subsequently agreed it would not furlough any pilots in 2009.

The two sides have been working cooperatively ever since to identify additional cost-cutting initiatives that would eliminate the threat of layoffs entirely. Subsequent discussions have failed, however, to identify sufficient operating savings.

If the furloughs go forward, they would be phased, with the first 170 pilots receiving notices in 2010. The initial group would be furloughed in May.

"Even though the economy has begun to turn around, UPS anticipates a very gradual recovery and a continued need for belt-tightening," said UPS Airlines President Bob Lekites. "This is a painful decision for our people, but one that is right for the on-going health of our business.

"But we haven't given up on this process," Lekites continued. "We continue to go well beyond our contractual obligation to seek a 'win-win' solution to avert furloughs."

UPS is well recognized for its commitment to employees, and the company strives to build upon its union relationships to maintain its position as an industry leader. For example, UPS and the Teamsters have formed a Competition Committee to identify new ways of making UPS more competitive and to create jobs, both in its package operation and at UPS Freight. A similar process has been in place with the International Association of Machinists for the employees it represents who help ensure the efficient operation of the UPS network.

The pilot furloughs, if required, would be but one of many steps the company has taken over the past two years to match its resources to economic conditions. UPS has engaged in a company-wide, $1.4 billion cost-cutting effort that included a freeze on management salaries in 2009; suspension of the match for 401(k) plans; trimming capital expenditures, and retiring older aircraft.

Most recently, UPS announced on Jan. 8 it was streamlining its entire domestic U.S. small package structure, eliminating 1,800 management and administrative positions across the country.

"Companywide, we will continue to evaluate all opportunities and make adjustments as necessary to ensure our company is well-positioned to emerge stronger than ever as the economy continues to recover," said Lekites. "We applaud our pilots for the way they've joined with UPS in trying to tackle this problem and hope we can identify a mutually beneficial outcome."

About UPS
UPS (NYSE: UPS) is the world's largest package delivery company and a global leader in supply chain and freight services. With more than a century of experience in transportation and logistics, UPS is a leading global trade expert equipped with a broad portfolio of solutions. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.

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