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WaveSmith Amps Up For Bigger Business

November 4, 2002 - Acton, MA

WaveSmith Networks, an emerging company focused on redefining multiservice edge switching for carriers, today announced that it has named Thomas Burkardt as the company's new Chairman and CEO. WaveSmith's founding President and CEO, Robert Dalias, will assume the newly created role of Chief Technology Officer. With significant customer traction and the revenue milestones of its start-up success, this management change reflects the vitality of WaveSmith's growth.

“We have begun to make the critical turn in a company's history from start-up to a revenue-generating business,” said Robert Dalias, founder and chief technology officer of WaveSmith Networks. “I can think of no one more qualified than Tom to lead us into this next phase. He has a proven track record with the leadership skills, the attitude, the service providers' respect, and the market savvy necessary to take WaveSmith to the next level.”

Prior to joining WaveSmith, Tom was chief operating officer and executive vice president of Unisphere Networks, now Juniper Networks (Nasdaq:JNPR), where he played a major role in building the company into one of the most dominant telecommunications equipment manufacturers in the industry. Before Unisphere, he was co-founder and president of Castle Networks, where he was instrumental in orchestrating a highly successful acquisition of the company by Siemens. He previously served as director of Cascade Communications' xDSL business unit as well as creating and managing Cabletron's IBM connectivity business unit.

“My main responsibility will be to lead the company into the next evolution of its lifecycle and to secure the RBOC business necessary to become one of the major players in telecommunications,” said Tom Burkardt, chairman and CEO of WaveSmith Networks. “Bob and the entire team have done a tremendous job growing the company to this point. Despite the difficult economic climate, they have proven WaveSmith's ability to execute on all facets of its business plan.”

“We view WaveSmith as one of the few bright stars making a difference in telecom. Bob built a first-class team and product, which is demonstrated by the recent announcements the company has made," said Michael Howard, principal analyst and co-founder of Infonetics Research. “With 5 revenue-generating customers to date, $30 million in new financing, and a worldwide reseller agreement with CIENA, this company is positioned well to gain market share over the incumbents.”