Corvis Moves to SmallCap

COLUMBIA, Md. -- Corvis Corporation (Nasdaq: CORV), a leading provider of intelligent optical networking solutions, announced today that it will transfer the listing of its common stock to the Nasdaq SmallCap Market from the Nasdaq National Market. The Company’s common stock will be transferred to the Nasdaq SmallCap Market at the opening of business on October 14, 2002, and will continue to trade under the symbol CORV. The Nasdaq SmallCap Market is fully automated, and provides real-time trade reporting and a marketplace for more than 800 companies. With the introduction of the Nasdaq SuperMontageSM trading system this year, securities listed on both the Nasdaq National Market and Nasdaq SmallCap Market share a unified, more liquid and transparent order entry system. Corvis elected to seek a transfer to the Nasdaq SmallCap Market as its common stock had not met Nasdaq’s $1 per share minimum bid price requirement for continued listing on the National Market. A transfer to the Nasdaq SmallCap Market gives Corvis additional time and flexibility to meet the Nasdaq minimum bid price listing requirement of $1 per share. Corvis Corp.