HYANNIS, Mass. -- Excel Switching Corporation, a leading provider of carrier-class,open services platforms for communications networks, today announced thatLucent Technologies (NYSE: LU) has sold its Excel division (part of LucentTechnologies' OPENet Business Unit) to an investor group led by Soros Private EquityInvestors LP and Oak Investment Partners. Terms of the deal were not disclosed.Under the arrangement, Excel will now act as a stand-alone entity and continue to servenew and existing customers. With more than 125 customers worldwide, Excel Switchingis a well-established provider of enhanced services for today and tomorrow’s wirelineand wireless networks.

Also announced today, Lucent and Excel have entered into a worldwide OriginalEquipment Manufacturer (OEM) agreement by which Lucent will act as a sales channelfor Excel’s product family.

“As a long-standing partner of Excel, we are pleased with this deal,” said MaryStanhope, General Manager of Oryx Product Group at SchlumbergerSema. “As anindependent player with strong financial backing, we feel confident that Excel’s CSP willcontinue to be a core technology of our converged IP/PSTN products.”

Effective June 1, 2003, Excel Switching Corporation will operate as a privately heldcompany with more than 150 employees worldwide and will remain headquartered inHyannis, MA. Marc J. Zionts, former President and CEO of Airslide Systems, aNorthbrook, IL–based developer of mobile infrastructure technology, and former CEO ofWestell (Nasdaq: WSTL) will serve as Excel’s CEO. J.C. Murphy, former Vice Presidentand General Manager of the Excel division under Lucent has been appointed as Excel’sPresident. Bruce Albelda, CFO of Airslide, will join as Excel’s Chief Financial Officer.

“Excel has enjoyed many successes in its 15-year history and the entire team is eager tocontinue the momentum as an independent company,” stated Murphy. “With a sharperfocus on our products and the needs of our customers and partners, combined withLucent as one of our strategic sales channels, we are confident we have the globalreach and financial backing to fully service and support our new and existing customersand grow Excel’s business.”

“As a separate business, Excel will be able to maintain its position as a provider of openplatforms, and serve its developer customers with greater focus and dedication,” saidRon DeLange, vice president and general manager of Lucent’s OPENet Solutions. “Atthe same time, Lucent will be able to concentrate its investments on the critical parts ofits portfolio going forward, while continuing to market Excel-based solutions as part of itsconverged solution offerings that address service provider needs.”

Excel will be demonstrating the Converged Services Platform (CSP) at Supercomm2003 at booth #23585.

Lucent Technologies Inc.

Excel