Cidra Withdraws IPO Bid

WALLINGFORD, Conn. -- CiDRA Corporation ("CiDRA") today announced it has submitted an application to the Securities and Exchange Commission to withdraw its Registration Statement for an initial public offering.

"In light of current market conditions, we have requested the withdrawal of our registration statement for an initial public offering," said Kevin Didden, president and CEO. "Right now, CiDRA is focused on technology innovation, manufacturing and customer partnerships. We'll keep a close watch on the market as we continue to execute on our business strategy."

Founded in 1996, CiDRA Corporation designs, manufactures and markets component, module and subsystem products for dynamic routing, monitoring and conditioning of optical signals. Based on its proprietary waveguide technology, CiDRA's family of AgileWaveTM products are designed to bring a new level of flexibility, reliability and intelligence to the next generation of optical networks. Additional information about CiDRA can be found at http://www.cidra.com .
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