Nepean, Ontario and San Jose, CA -- JDS Uniphase Corporation and E-TEK Dynamics, Inc. announced today that they have reached an agreement with the United States Department of Justice ("DOJ") that will permit JDS Uniphase to complete its merger with E-TEK. The consent decree with the DOJ gives antitrust clearance to the merger, which is now subject only to E-TEK stockholder approval and the other customary closing conditions specified in the merger agreement. A special meeting of E-TEK's stockholders has been set for June 28, 2000. If E-TEK's stockholders approve the merger at the meeting, the companies expect to close the transaction shortly after the meeting is completed.

In their consent decree with the DOJ, JDS Uniphase and E-TEK have agreed to relinquish, over a 90-day transition period, E-TEK's contractual rights of first refusal with respect to the output from coating chambers used for the manufacture of thin-film filters owned by Barr Associates, Herrmann Technology, Inc., Hoya Corporation USA, and OCJ Corporation (the "Filter Vendors"). Specifically, at the end of 30 days following today's signing of the consent decree, the companies have agreed not to enforce E-TEK's rights of first refusal with respect to 30% of each Filter Vendor's filter manufacturing capacity subject to those rights. After the second thirty days of the transition period, the companies shall not enforce E-TEK's rights of first refusal with respect to 60% of such manufacturing capacity; and at the expiration of the transition period, the companies shall not enforce any rights of first refusal remaining in E-TEK's supply agreements with the Filter Vendors.

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