ALAMEDA, Calif. -- UTStarcom, Inc. (NASDAQ:UTSI) , a global leader in IP-based, end-to-end networking solutions and services, today announced that it is exploring a variety of strategic alternatives to enhance stockholder value.

To assist the company in its analysis and consideration of various strategic alternatives, the board of directors has established a special committee of the board and the special committee has retained Merrill Lynch & Co. as its financial adviser.

"Our Board of Directors and management team believe that the inherent value of the company and its opportunities are not reflected in our current share price," said Hong Lu, Chairman and Chief Executive Officer of UTStarcom, Inc. "We believe the engagement of Merrill Lynch will help us to carefully examine a range of short and long-term alternatives."

UTStarcom Inc. (Nasdaq: UTSI)