Lucent Names New Treasurer

MURRAY HILL, N.J. -- Lucent Technologies (NYSE: LU) today announced the appointment of Mark G. Gibbens to vice president and treasurer, effective immediately. Gibbens, who was assistant treasurer, will now be responsible for all treasury functions including Corporate Finance, Risk Management, Credit and Recovery, Customer Finance, Contract Management and Pension Fund Management. He replaces Martina Hund- Mejean, who left the company in December 2002, and will report directly to Frank D'Amelio, Lucent's executive vice president and chief financial officer. "Mark has made significant contributions to Lucent's restructuring and recapitalization efforts, including helping to raise $11 billion for Lucent over the last 24 months," said D'Amelio. "He has already brought a great amount of experience to Lucent from outside our industry, and his insights and ability to manage our relationships with the financial community have helped bring stability to the business. I have great confidence in Mark's ability to take on this new role." Gibbens, 35, joined Lucent in November 2000 as assistant treasurer and has been responsible for the company's Corporate Finance, Capital Planning, Banking, International Treasury, and Risk Management functions. He has played an instrumental role in fortifying Lucent's capital structure in the face of an unprecedented market downturn for the telecommunications industry. Before joining Lucent, Gibbens spent two years as vice president of finance for an Internet software and services company and 10 years with General Motors Corporation, where he held a number of positions in Treasury, including responsibility for domestic finance and business development. Lucent Technologies Inc.