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Technology Stocks : Newbridge Networks

NN 12.53

-1.5%

Nov 19 3:59 PM EST

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To: pat mudge who wrote (5504)	7/10/1998 4:52:00 AM
From: Glenn McDougall	Read Replies (4) of 18016

Message 2994 of 3005 Yahoo NN thread Memo from Lutz Optic253 (F/CA) Jul 9 1998 11:25AM EDT I got this from a friend who works for Newbrige. Memo to All Employees: There have been lots of rumours, calls and questions from employees following today's media reports. I want to set the record straight and caution you not to believe everything you read in the media. There is a lot of speculation out there about the reasons behind recent changes in the composition of our Board of Directors. Financial analysts have made their own interpretations of the changes - these interpretations are erroneous and unfounded. I want every employee to know that the sale of Newbridge is not in the company's plans and we are not in active discussions with other companies. The decision for Peter Sommerer, Dan Rusheleau and Peter Madsen to relinquish their seats on the Board of Directors was mutual. More than 50% of our board members were insiders. This change provides a better balance between inside and outside shareholder representation. Peter Sommerer's departure is clearly to take on more day-to day management responsibilities at Vienna Systems and Dan Rusheleau will direct his full attention to the successful growth and development of West End Systems. Both Peter and Dan will continue to be associated with Newbridge. We are absolutely committed to growing Newbridge into a Fortune 500 company and outperforming our competition. Within the next few weeks I will be sharing a new vision statement for Newbridge with you. I will also lay out very clear goals and objectives that every employee will be accountable to. We have the people and the products to compete and win and I will be looking to every employee to help us in achieving our goals. Sincerely Alan Lutz President and Chief Operating Officer Regards Glenn

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