MURRAY HILL, N.J. -- In response to inquiries, Lucent Technologies (NYSE: LU) today issued the following statement:

"Let me be very clear, our $6.5 billion lines of credit provide the financial resources and the financial flexibility to execute our turnaround plan," said Lucent Technologies Chief Financial Officer Deborah Hopkins. "We are already seeing positive impacts from our comprehensive restructuring program.

"The rumors that Lucent is filing for bankruptcy are baseless and irresponsible. We will report, in detail, on the progress we are making when we issue our results for the second fiscal quarter of 2001 later this month."

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