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Revision History For: Corvis (CORV)

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Corvis -- a telecommunications equipment manufacturer and potentially the next Cisco, Ciena, Ascend, or Juniper -- is on the cutting edge. It is about to roll out an all-optical multi-terabit router for telecommunications companies. Located in Columbia, Maryland, it is the second venture of David Huber, the founder and brains behind Ciena. Already has two rounds of financing from two major venture capital firms: Kleiner,Perkins and NEA. Cisco bought a 10% stake. When Corvis goes IPO, it'll be big.

website: corvis.com

06.3.99
CORVIS CORPORATION UNVEILS ITS ALL-OPTICAL
MULTI-TERABIT PRODUCT LINE

SERIES OF NETWORK DEMONSTRATIONS AT SUPERCOMM '99
Transparent all-optical switching, transport and network management solutions
will revolutionize the way traffic is moved and business is conducted in the new
Internet-driven telecommunications industry

Columbia, Md., June 3, 1999 – Corvis Corporation will unveil the industry's first
all-optical network at Supercomm: the CorWave™ product family. With order of
magnitude savings compared to available networks, Corvis networks provide carriers
with strategic and competitive advantages enabling them to lead the information age
revolution. By delivering high-capacity all-optical switching, transport and network
management, Corvis combines the three critical capabilities required for the next
generation Internet backbone. Each of the CorWave™ products provides far higher
performance than any other products available today. Key advances include:

Transport of 160 densely-packed OC-48 optical signals or 40 OC-192 optical
paths on a single fiber,
Transmission distances of 3200 kilometers without any electronic
regeneration: a distance that makes all-optical networks a reality and optical
switches immensely valuable,
Transparent optical switching with a capacity of up to 2.4 Terabits,
Enhanced optical network management software permitting carriers to
provision ultra-long optical paths remotely and without field intervention, and
Innovative protection capabilities in the optical layer.

"Corvis has been able to execute on three key market fronts: transport, switching and
network management in a very short time," states Mathew Steinberg of RHK (Ryan,
Hankin & Kent). "This permits Corvis to pursue a combined annual market space of
$5-7 billion."

Corvis combines all-optical switching, transport and network management into a
transparent physical mesh. This mesh may be organized into many logical
architectures, permitting more flexible configurations that support different traffic and
protection requirements across large networks. The Corvis mesh allows carriers to
allocate wavelengths in a manner that optimizes network efficiency and minimizes
interference. Carriers will enjoy a smoother migration path from ring-based
topologies to mesh topologies; a move that can result in a 60 percent gain in network
capacity using existing fiber in the field.

With Corvis, carriers can take a new and different approach to network design and
build a single, unified network to carry all kinds of traffic – IP/ATM, video, voice,
etc. – instead of "stacked," overlay networks, each devoted to a single traffic type.

"We are offering to both the switching and transport sides of the industry the lowest
‘cost per bit' network," said Dr. David Huber, President and CEO of Corvis. "We
can do this because we are the first to combine all-optical switching with an ultra
long distance optical transport layer to create a flexible mesh network. This is a
breakthrough which lowers costs by an order of magnitude and creates many more
service possibilities for carriers."

The benefits of the Corvis approach are seen in lower acquisition and operating costs
for a range of network operators:

Optical transparency at network nodes that will eliminate combinations of
discrete network elements, such as WDM terminals, SONET add/drop
multiplexers and electrical cross connects – meaning a three- to ten-fold
reduction in cost compared to current systems, depending on route
configuration and capacity,
Increased transmission distances for optical signals -- up to 3200 km for
coast-to-coast routes without electrical regeneration – meaning a five- to
eight-fold reduction in the number of electrical regenerator sites in a
long-distance network,
Reduced provisioning time for coast-to-coast routes – from weeks to minutes
– meaning lower operations costs and faster return on investment for carriers.

Corvis has demonstrated its products to many carriers, including Williams
Communications Group, Inc., a unit of Williams (NYSE:WMB), based in Tulsa,
Oklahoma.

"We believe that Corvis' breakthrough products will create a discontinuity in the
marketplace," said Matthew Bross, senior vice president and Chief Technology
Officer of Williams Communications. "The fundamental shift created by Corvis' true
optical networking products will give competitive carriers access to tremendous
bandwidth and operational flexibility."

Corvis is demonstrating its all-optical, multiple-terabit product line at Supercomm '99
in booth 8470 of the Georgia World Congress Center, June 8 – 10, 1999 and is
holding a press conference at 11:00 a.m. on Tuesday, June 8, in room 305E of the
Congress Center. As part of a multi-company exercise, Corvis also is conducting at
its booth an optical internetworking demonstration with the Cisco 12000 series GSR
(gigabit switch router). Cisco Systems, Inc. has acquired a minority interest in Corvis
in connection with Corvis' recent third round financing.

"Our investment in Corvis demonstrates the importance to Cisco of optical
internetworking in meeting today's exploding bandwidth demands," said Graeme
Fraser, vice president and general manager of Optical Internetworking at Cisco.
"Corvis' dramatic innovations in transmission distance, channel count, and optical
switching will assist network operators in building cost-effective IP networks."

Corvis Corporation, based in Columbia, Maryland, is creating a true paradigm
shift in the capabilities of telecommunication networks by introducing the
world's first true all-optical network solution – a move that will lower network
costs exponentially and create a multiple-terabit solution for improved Internet
services and the data-centric networks of tomorrow.

Corvis Product Notes

The Corvis Optical Router dynamically interconnects fiber routes to create a
transparent optical network. All Corvis products are designed to assure complete
interoperability with existing equipment – meaning a smooth transition to the
all-optical network and no stranded investments.

The Corvis Optical Network Gateway provides access to the optical core network
at node sites, while the Corvis Add/Drop Multiplexer provides access between
nodes. The initial Corvis system significantly increases per fiber data capacity
without expanding the 1530 – 1560 nm "window." It will transport 160 OC-48
channels per each optical fiber (400 Gbit/s per fiber) over distances up to 3200 km
without electrical regeneration. The Corvis approach allows a much more efficient
way of handling "express traffic" (meaning traffic moved from one population center
to another) in the network because it removes the need for many electrical
regenerators.

According to industry studies, 70 percent or more of the traffic at any network node
is "through traffic," while the rest is "dropped" and distributed to local users. Unlike
current systems, which terminate all traffic at every node and regeneration point,
Corvis eliminates a large amount of unnecessary regeneration, greatly reducing the
number of regenerators in the line and leading to a substantial reduction in the cost of
building and operating a network. Corvis uses open standards-based, optical
amplification, filtering and control techniques to increase the number of wavelengths
possible per fiber and reduce the need for optical signal regeneration.

The Corvis Optical Amplifier provides bi-directional in-line optical signal gain with
spacing determined by carrier route configurations and the type of fiber optic cable
used in a particular route.

The Corvis Network Manager (the CorManager™) enables "point and click"
network provisioning and restoration through software controls. It incorporates an
element management system that can remotely access each network element for
configuration updates, provisioning and software downloads with a unique network
modeling tool that creates real-time bandwidth allocation and management across the
network.

Miller/Shandwick Technologies
Michael Newsom
(617) 351-4124
mnewsom@miller.shandwick.com