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Crossbeam Systems Names New CEO

November 1, 2001 - Concord, MA

Crossbeam Systems™, an emerging leader in improving the economics of delivering secure, network-based applications for large data centers, today announced that Peter George has joined the company as president and CEO, effective immediately. The move comes as Crossbeam experiences significant growth based on its recently unveiled breakthrough technology platform that is helping companies decrease expenditures on redundant equipment, while improving performance and availability of network-based applications such as firewalls and virtual private networks (VPNs). George joins Crossbeam from Nortel Networks, Europe, Middle East and Africa (EMEA), where he most recently served as president of the company’s Enterprise Solutions group.

George’s addition to Crossbeam augments the company’s seasoned management team comprised of executives with experience in the network equipment industry from leading companies like Cisco Systems, Wellfleet/Bay Networks (acquired by Nortel Networks), Cascade/Ascend Communications (acquired by Lucent Technologies) and Alcatel.

“Peter is a dynamic leader whose prior experiences in the networking arena, combined with his global market knowledge, make him uniquely suited to be Crossbeam’s president and CEO,” said Mike Akerman, co-founder and vice president of engineering. “We are thrilled to have Peter on board as we move aggressively into the next phase of our growth, and meet the demands of customers on a global scale.”

“Crossbeam is a company that is well-positioned to make a tremendous impact in the networking and data center industries with a powerful new category of product,” said Peter George. “Crossbeam’s breakthrough technology, experienced management team, strong investor support, and smart partnering strategies convinced me that I wanted to be a part of this team. The potential for both Crossbeam, and for global companies that are interested in our products, is truly outstanding.”

George has more than 20 years of global networking sales and marketing experience with leaders such as Xerox, 3Com, Wellfleet, and Nortel Networks. With an established track record in delivering sustained growth and profits, George also has significant experience in strategically expanding market share, and in identifying critical partnership opportunities and new sales and channel strategies.

Most recently as president of Nortel’s Enterprise Solutions division in EMEA, George was responsible for managing more than 5,000 employees and $2 billion in revenue. George came to Nortel via their 1998 acquisition of Bay Networks where he was serving as vice president of European operations. During his tenure at Wellfleet and Bay, George played key sales executive roles in New England and Europe. Prior to joining Wellfleet, George served as the Northeast regional manager and general manager of Canada at 3Com Corporation, and also held senior management positions at Ungerman Bass. George began his career as a top-performing strategic account manager at Xerox Corporation. He received his B.A. from the College of the Holy Cross, and has done graduate studies at Harvard and Oxford University.

George’s appointment also comes on the heels of Crossbeam’s recently launched X40 Network Application Concentrator, the industry’s first platform enabling large data centers to deploy network-based services at speeds from several hundred megabits up to 10 gigabits per second, scaling to millions of users, with 99.999% availability. Check Point Software Technologies (NASDAQ: CHKP) is Crossbeam’s first platform partner. In recent lab tests, the X40 Application Concentrator running Check Point VPN-1®/FireWall-1® software was shown to deliver the world’s fastest VPN/security platform running at more than 3Gbps.