Marconi Sells Bookham Shares

LONDON -- Marconi Corporation plc (London: MONI) announces that it has today sold its holding of 12,891,000 shares in Bookham Technology plc (LSE: BHM; Nasdaq: BKHM) through a placing with institutional investors carried out by Cazenove & Co. Ltd for a total cash consideration of £16,758,300. The cash proceeds will be paid into a mandatory redemption escrow account and will be used, in due course, to fund a further partial redemption of the Group's Junior Notes.

Marconi acquired its holding in Bookham Technology in February 2002 as consideration against the sale of its Optical Components business to Bookham.

Marconi Corp. plc

Bookham Technology plc