Lucent Unloads a Division

MONTREAL -- SR Telecom Inc. (TSE: SRX) today announced that it has signed an agreement to acquire the French assets of Lucent's (NYSE: LU) fixed wireless division, SWING, (formerly known as TRT). SR Telecom thus strengthens its technology offering and gains specialized R&D and human resources skills, which will substantially improve its competitiveness and global customer service capabilities. "The restructuring of the telecommunications industry is providing attractive consolidation opportunities to niche players such as SR Telecom. In this context, this transaction is a perfect fit for us as it enables us to further strengthen our core business. Serving the last mile, particularly in low density areas, is a necessity everywhere in the world. This is something we have done very well. The addition of SWING gives SR Telecom an exceptional platform on which to further grow its business worldwide," said SR Telecom President and Chief Executive Officer, Pierre St-Arnaud. Mr. St-Arnaud stressed the added value of an enhanced access to Europe to the company and its customers. "The acquisition will support SR Telecom's strategy for deploying our new MetroFlex product in the European market. It will also give us greater access to European financing which will improve our turnkey offering capabilities in the developing world." Lucent Technologies Inc. SR Telecom Inc.