OCEANPORT, N.J. -- Tellium (Nasdaq: TELM), provider of intelligent optical switches, today announced its initial public offering ("IPO") of 9,000,000 newly issued shares of common stock at a price of $15 per share. The shares are being offered by an underwriting group managed by Morgan Stanley and Thomas Weisel Partners LLC, and co-managed by UBS Warburg, CIBC World Markets and Wit SoundView. Tellium has granted the underwriters an option to purchase an additional 1,350,000 shares of common stock to cover over-allotments.

Tellium's common stock will begin trading today on the Nasdaq National Market under the symbol "TELM."

A prospectus relating to Tellium and the IPO may be obtained from Morgan Stanley, Prospectus Department, 1585 Broadway, New York, New York 10036, 212-761-7686.

A registration statement relating to these securities was filed and declared effective by the Securities and Exchange Commission on May 17, 2001. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state.

Tellium Inc.