Electrical current transport and low-frequency noise spectra of multiwall carbon nanotubes in high-density polyethylene matrix have been measured in a temperature range between 10 and 300 K. The dc electrical investigations suggest that these composites can be regarded as a random resistor network, where the resistors are formed by tunnel junctions between carbon nanotubes. A crossover of the conduction from a low-field to a high-field regime is found in current-voltage characteristics. In particular, the high-field regime has a strong dependence on carbon nanotube concentration. Noise measurements reveal a standard 1/f behavior due to resistance fluctuations. However, in samples with different concentration of nanotubes, an unusual tempera...