CHELMSFORD, Mass. -- Sycamore Networks, Inc. (NASDAQ: SCMR - News), a leading provider of optical networking products, today announced that Richard J. Gaynor will be joining Sycamore as Chief Financial Officer and Vice President of Finance and Administration effective October 5, 2004. Frances M. Jewels, Sycamore's CFO since July 1999, will remain with the Company in an advisory capacity.

Richard Gaynor is an experienced financial executive with solid financial, accounting and operational skills. Rick joins Sycamore after having served most recently as the Vice President, Corporate Controller and Principal Accounting Officer of Manufacturers Services, Ltd. (NYSE:MSV - News), a leading provider of sub-contract electronic manufacturing services, which was recently acquired by Celestica, Inc. (NYSE:CLS - News). Prior to MSL, Rick served as CFO of Evans and Sutherland Computer Corporation (NASDAQ: ESCC - News) and in various senior financial positions with Cabletron Systems.

"I want to thank Fran for her dedication and many significant contributions to Sycamore over the past five years of unprecedented growth and challenges," said Daniel E. Smith, president and chief executive officer of Sycamore Networks. "We are pleased that Fran will continue to assist us on certain projects as we move forward. Sycamore is fortunate to have an exceptionally strong financial team and Rick is well equipped to work with them in managing Sycamore's financial matters and helping to guide Sycamore into the future. We look forward to working closely with Rick."

Sycamore Networks Inc.