Memlink Names CEO

HERZELIA, Israel -- Memlink, a leading developer of all-optical solutions, today announced that Stephen R. Rizzone has joined the company as Chairman and CEO. The appointment of the new CEO, a seasoned industry executive, reflects Memlink's commitment to become a prominent player in the all-optical switching arena. Mr. Rizzone will establish Memlink's headquarters in the US, while the company's R&D operations will remain in Herzelia, Israel.

Rizzone was formerly the Chairman, President and CEO of Ortel Corporation, a publicly traded telecommunications company with core technology strengths in semiconductor optoelectronics and fiber-optic transmission. As the Chairman, President and CEO, he was instrumental in orchestrating the acquisition of Ortel by Lucent Technologies in April 2000. Before joining Ortel, Rizzone was the President and CEO of NetVantage Inc., which merged with Cabletron Systems (NYSE: CS) in September 1998. Earlier, he served in senior marketing, sales and general management positions with Crosspoint Venture Partners, Retix, Make Systems, 3Com Corporation, Bridge Communications and Timeplex.

"I'm very exited to join Memlink, a young and promising all-optical solution company," said Mr. Rizzone. "I found in Memlink a winning team, a focused vision and an innovative technology - all backed by world-class investors. We intend to fully realize that potential in order to position Memlink as a leading vendor of all-optical solutions."

Memlink