FREMONT, Calif. -- Ikanos Communications, Inc. (Nasdaq: IKAN), today announced that it has priced its initial public offering of 6,400,000 shares of common stock at a public offering price of $12.00 per share, which will result in estimated net proceeds to Ikanos Communications of approximately $69 million. The offering is expected to close on September 27, 2005, subject to customary closing conditions. The offering was made through an underwriting syndicate led by Citigroup Global Markets Inc. and Lehman Brothers Inc., as joint bookrunners and joint lead managers. Deutsche Bank Securities Inc. and Thomas Weisel Partners LLC acted as co-managers. Ikanos Communications has granted the underwriters an option to purchase up to 960,000 additional shares of common stock to cover over-allotments, if any.

Ikanos Communications Inc.