Press Releases

Please contact:
Tina Tan
763-548-8208
ttan@marketready.com

CALIENT Technologies Completes Second Round of Funding
New company emerges with innovative systems architecture, industry-leading backers

Sunnyvale, Calif., May 22, 2000 – CALIENT Technologies, a developer of intelligent, all-photonic switching systems and software, announced today the completion of $50 million in its second round of financing. New investors include Juniper Networks, Inc., Tellabs and Greylock. They join first-round investors Enterprise Partners, Telesoft Partners and Storm Ventures, who also participated in this latest round of investments. These new sources of capital bring the total amount raised to $56 million.

"We are very pleased to be involved with a team of the experience and accomplishments of the people at CALIENT. Like Juniper Networks, they understand the full range of issues needed to bring complex state-of-the-art solutions to market. The optical industry needs these switching innovations to complement the high performance IP services being rolled out today on Juniper Networks' backbones," said Scott Kriens, president and CEO of Juniper Networks.

"This represents Tellabs' commitment to invest in companies and technologies that will ultimately help us meet the next-generation networking needs of our customers," said Tellabs Chairman and CEO Michael J. Birck. "Our support of CALIENT is another example of our focus on advanced optical networking solutions, which is a key area for us and for the existing and emerging carriers we serve."

"The great interest in optical technologies lies in the fact that networking traffic grows by orders of magnitude yearly," stated Charles Chi, General Partner at Greylock and former founder of Lightera Networks. "Photonics is the only technology that can keep up with this compounding growth rate.

All-photonic switching systems provide service providers the means to cost effectively scale networks. CALIENT raises the bar and is the performance leader for photonics, scalability, footprint and reliability."

"This caliber of strategic investors puts CALIENT in a clear lead to propel all-photonic switching to an industry-wide level," stated Charles Corbalis, CALIENT President and CEO. "With this round, we have the resources to expand support for the broad range of service providers and applications we are targeting, to help them rapidly grow and scale networks to meet bandwidth demands."

CALIENT will demonstrate its all-photonic switching system in Booth 655 at SUPERCOMM in June 2000.

About CALIENT Technologies

CALIENT is a developer of intelligent, all-photonic switching systems and software that enable service providers to scale their networks to meet bandwidth demands. The CALIENT switch architecture will provide a seamless ‘opto-electronic to photonic' migration path that is non-disruptive to legacy operations, and create the opportunity for carriers to offer new, revenue-generating services leveraged from their photonic infrastructure. Founded in March 1999, the company is headquartered in Sunnyvale, California. For additional information about CALIENT, visit www.calient.net.

About Juniper Networks®

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 solution 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 Mountain View, California. Juniper stock is listed on the Nasdaq Stock Market (JNPR). For more information visit www.juniper.net. Juniper Networks is a registered trademark of Juniper Networks, Inc.

About Tellabs

Tellabs designs, manufactures, markets and services optical networking, next-generation switching and broadband access solutions. The company's products are used worldwide by the providers of communications services. Tellabs stock is listed on the Nasdaq stock market (TLAB).

About Greylock

Greylock (www.greylock.com) is a private venture capital firm, founded in Boston in 1965, with committed capital of over $725 million under management. Over the past 33 years they have provided equity capital and support to more than 250 developing companies, many of which have gone on to become leaders in their respective industries. Of these companies, over 105 have become publicly held, with a current market capitalization in excess of $55 billion, while another 80 have merged successfully with other companies.

About Enterprise Partners

Enterprise Partners (www.ent.com) is a Southern California venture capital firm organized to make investments in privately held early stage and emerging growth companies with the potential for exceptional growth and selected leveraged buyouts of established companies in collaboration with superior management teams.

About Telesoft Partners

TeleSoft Partners (www.telesoftvc.com) is a $162 million venture capital fund focused on next gen communications companies. TeleSoft has invested in 33 portfolio companies, including Cerent Corporation, ConvergeNet Technologies, Inc. and Promatory Communications, Inc. TeleSoft's value added network includes its team, 40 Industry and Technology Advisers and 6 Corporate Partners.

About Storm Ventures

Storm Ventures, founded in 2000, is dedicated to creating and building industry leading companies in the Internet infrastructure and optical networking market segments, with particular focus in the bandwidth creation, wireless infrastructure and managed services areas. The founding team of general and venture partners all have specific industry and operational experience, with a proven track record of building successful companies. Storm Ventures typically invests in seed and early stage companies, although it has and will continue to incubate certain companies that fit its market focus profile. Storm Ventures' limited partners and investors are all executives from the data networking, optical and wireless networking industry and provide significant value-add to its portfolio companies. Storm Ventures is focused on the long-term success of the companies it invests in, building a network of high quality, high integrity people, and creating value for its partners. For more information visit http://www.stormventures.com/ .