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To: Johnny Canuck who wrote (36406)	3/12/2002 9:47:18 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68092

06:49 ET LU Lucent delays Agere spinoff (6.26) -- Update -- Co says current market conditions introduce a degree of uncertainty about the timing of the Agere spinoff. Due to continuing market softness, Lucent will not be able to use the results from the Q2 to meet the EBITDA performance condition, as defined under co's credit facility, necessary to complete the spinoff of Agere. Lucent believes it is likely that it will be able to use the results from Q3 to meet the condition. 06:46 ET LU Lucent considering convertible offering (6.26) -- Update -- While co has sufficient liquidity to fund its operations and business plans, LU is continuing to consider opportunities to raise additional capital in order to further strengthen its balance sheet and provide for more excess liquidity. Says may a financing transaction as soon as market conditions permit, likely in the form of a convertible offering. 06:44 ET LU Lucent trims Q2 revenue guidance; pushes out profitability date (6.26) Co reduces its Q2 revenue outlook; LU now sees a "modest-to-10%" sequential improvement in Q2 revenues vs previous guidance of 10%-15% growth. Co says large service providers continue to reduce or defer their spending as they rethink their business plans and conserve cash, "which is having an impact on our top line." Believes that ongoing uncertainty in the service provider market will most likely cause Lucent's return to profitability and positive cash flow to slip into fiscal year 2003.