Western Multiplex Rejects Takeover

SUNNYVALE, Calif. -- Western Multiplex Corporation (Nasdaq: WMUX) today announced that it has determined not to pursue the unsolicited offer made by DMC Stratex Networks, Inc. (Nasdaq: STXN). The Board of Directors, after consultation with management and its financial and legal advisors, has reaffirmed its commitment to the pending merger with Proxim, Inc. (Nasdaq: PROX). Jonathan N. Zakin, Chairman and CEO of Western Multiplex, said: "While we have the utmost respect for Stratex, we continue to believe in the long-term strategic and economic rationale for our 50:50 merger-of-equals with Proxim. We remain convinced of the potential revenue enhancement opportunities that can be realized through cross-selling each other's products, domestically and internationally, and from the introduction of new products in rapidly growing emerging markets, such as residential last mile access and integrated campus bridging with in-building distribution. In addition, as a result of the merger with Proxim, our stockholders will enjoy increased management depth and business scale, a broader combined technology and products portfolio, an expanded sales and distribution channel and reduced administrative expenses." Western Multiplex Corp. DMC Stratex Networks Inc.