LONDON -- Marconi plc (London and Nasdaq:MONI) today announced the sale of its Optical Components businessto Bookham Technology plc (LSE: BHM; Nasdaq: BKHM) in exchangefor 12,891,000 Ordinary Shares in Bookham, equivalent toapproximately 9.999 per cent of the current issued share capitalof Bookham. Based on the mid-market closing share price ofBookham on 14 December 2001, the transaction has a value ofapproximately £19.7 million. The transaction, which is expectedto close in early 2002, is in line with Marconi's stated strategyto manage its non-core assets for value.

'This agreement is an important further step in the on-goingdisposal of Marconi's non-core businesses,' said Mike Parton,Marconi CEO. 'Marconi sees very real value in holding asubstantial shareholding in a business that will become a leadingprovider of integrated photonic solutions worldwide, whilsteliminating Marconi's ongoing investment requirements.'

Giorgio Anania, President and CEO at Bookham Technology plc,said: 'Integrating Marconi's Optical Components creates apowerful new force in the optical components marketplaceworldwide. Bookham gets access to a significant portfolio ofintellectual capital, highly-skilled people and a range of otherassets. Bookham also gets access to a range of innovativecomponent products that complement our existing range.'

Marconi Optical Components, headquartered in CaswellNorthamptonshire, is an independent business unit withinMarconi's Capital Group that focuses on providing a portfolio ofintegrated photonic solutions for optical networks.

Bookham Technology PLC Marconi PLC