Avici Names New CFO

NORTH BILLERICA, Mass. -- Avici Systems Inc. (NASDAQ: AVCI - News), today announced the appointment of William J. Stuart to the position of chief financial officer (CFO) and senior vice president, finance and administration. Effective immediately, Mr. Stuart will have responsibility for finance, human resources, and investor relations.

Mr. Stuart joins Avici with a two-decade record of achievement and broad-based financial experience in the telecommunications equipment and software industries. Prior to joining Avici, Mr. Stuart served as a general partner at Still River Funds, a venture capital organization focused on investments in the information technology, communications and life sciences industries.

"We're very excited to welcome Bill to the Avici team," commented Bill Leighton, Chief Executive Officer, Avici Systems. "With his financial acumen and strategic insight, Bill is exceptionally well suited to guide Avici's strategic direction going forward."

Mr. Stuart had previously held the position of vice president of business development for ADC Telecommunications. From 1999 to 2000, Mr. Stuart was CFO of Broadband Access Systems, Inc., a privately-held manufacturer of cable modem termination systems, and led the negotiations in the acquisition of the company by ADC in September 2000.

Prior to that Mr. Stuart held CFO and VP level positions at NetCore Systems, Telco Systems, AccessLine Technologies and AT&T Paradyne.

Avici Systems Inc. (Nasdaq: AVCI; Frankfurt: BVC7)