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Technology Stocks : ONI Systems Corp. (ONIS)

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To: Glenn Petersen who started this subject	6/24/2002 10:14:10 PM
From: Glenn Petersen	of 227

Lights out: CIENA Announces Completion of ONI Transaction LINTHICUM, Md.--(BUSINESS WIRE)--June 24, 2002--CIENA Corporation (NASDAQ:CIEN) today announced it completed its acquisition of ONI Systems Inc. (NASDAQ:ONIS) on Friday, June 21, 2002. According to the agreement announced February 18, 2002, CIENA acquired all outstanding shares of ONI in exchange for approximately 100.7 million shares of CIENA common stock and assumed outstanding options and warrants. The transaction is valued at approximately $397.8 million, based on the closing price of CIENA's common stock on Friday, June 21, 2002. ABOUT CIENA CIENA Corporation's market-leading optical networking systems form the core for the new era of networks and services worldwide. CIENA's LightWorks(TM) architecture enables next-generation optical services and changes the fundamental economics of service-provider networks by simplifying the network and reducing the cost to operate it. Additional information about CIENA can be found at ciena.com. CONTACT: CIENA Corporation Investor Contact: Suzanne DuLong or Jessica Towns, 888/243-6223 ir@ciena.com or Press Contact: Denny Bilter or Glenn Jasper, 877/857-7377 pr@ciena.com SOURCE: CIENA Corporation

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