CoreOptics Names New CEO

NUREMBERG, Germany and PRINCETON, N.J. -- CoreOptics Inc., a leading designer and manufacturer of 40Gb/s and 10Gb/s optical networking subsystems, today announced that Hamid Arabzadeh has joined the company as the Chief Executive Officer. This announcement follows the CoreOptics previous announcement of $21.5 million Series B funding in September 2002. "I am excited to join CoreOptics and look forward to leading this highly talented team." said Mr. Arabzadeh. "CoreOptics' innovative product portfolio and strong financial position present a compelling value proposition to our customers." In making today's announcement, CoreOptics Chairman Ian Jenks said, "Hamid's vision and experience bring a significant value-add to the company and will definitely benefit our customers, partners and suppliers worldwide." Formerly Mr. Arabzadeh was the General Manager and Vice President of Next Generation Metro Optical Networks at Nortel Networks. In this role, he had global responsibility for Nortel's Metro Optical Profit & Loss, Portfolio & Technology Strategy, Research & Development, Product Line Management and Product Marketing. CoreOptics develops and manufactures modules and subsystems for ultra high-speed optical networking solutions for the telecommunications and the information technology industry. CoreOptics current portfolio includes advanced transponders for Metropolitan and Long Haul optical systems at 40Gb/s and 10 Gbit/s using DWDM, SONET/SDH, ATM and IP protocols. CoreOptics Inc.