Tellium Offers Option Exchange

OCEANPORT, N.J. -- As announced in a June 24 press release, Tellium, Inc. (Nasdaq: TELM - News) today filed with the Securities and Exchange Commission a tender offer on Schedule TO. The offer gives Tellium employees the opportunity to exchange outstanding stock options with an exercise price of $2.14 or more per share for a combination of share awards of common stock and new options to be issued six months and one day from the expiration of this offer. This offer is not available to Tellium officers, directors or employees of its non-U.S. subsidiaries. The Schedule TO and related exhibits are available for free at the Securities and Exchange Commission's website at http://www.sec.gov and will be delivered without charge to all eligible employees of Tellium. Tellium Inc.