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To: Gary Korn who wrote (38766)	3/11/1998 9:15:00 AM
From: Glenn D. Rudolph	Respond to of 61433

Leading Venture Funds Invest $26.5 Million in Internet Switch Provider Argon Networks PR Newswire - March 11, 1998 09:03 %CPR %FIN %PDT BAY V%PRN P%PRN - Former Wellfleet Communications Executives Target Internet/Data Service Networks for Next Generation Switching Product - LITTLETON, Mass., March 10 /PRNewswire/ -- Argon Networks, Inc., a provider of next generation switches for the Internet backbone, today announced a $26.5 million second round investment from leading venture-capital funds AT&T Ventures, Canaan Partners, JAFCO America Ventures, New Enterprise Associates and the original investors. The company's first-round investors included a premier group of venture-capital funds including Greylock, Matrix Partners, North Bridge Venture Partners and Sigma Partners. To date, the company has raised over $34 million in venture capital. The new funds will be used to continue the development of Argon's next generation backbone router/switch products and grow the company's sales and marketing presence on a global basis. Argon Networks was founded in April 1997 to develop high performance networking products specifically designed to address the scalability, performance and service-availability issues of the Internet and Data-Services markets. The company was founded by founder of Wellfleet Communications (now Bay Networks), Steve Willis, and former Wellfleet senior engineering executive Mike Grady, who was also a founding member of Stratus Computer's engineering team. The two bring a powerful combination of high-performance networking and high-availability computing experience to the Internet and Data Service market. "The growth of the Internet, both in traffic volumes and business importance, is the key driver for a new class of networking platform that can deliver zero down-time availability and scalable performance," said Mike Grady, Argon Networks' President and CEO. "As a start-up company, Argon has the distinct advantage to engineer a product from the ground up to solve the most vexing Internet problem: how to ensure 99.999% service availability with the capacity to scale and evolve with traffic demand." "The team, the market and the vision attracted JAFCO to lead this investment opportunity," said Todd Brooks, Managing Principal, JAFCO America Ventures. "The Argon team stands unique in its combination of networking and high-availability systems strengths; the Internet market is only strengthening by evolving to carry vital business traffic; Argon's product architecture solves service providers' business and technical problems, in the US and internationally." Argon Networks develops, markets and supports sophisticated routing and switching platforms for Business Internet and Data Service networks. The company's products are engineered for 99.999% service uptime, and will tightly integrate with existing service provider access and transport networks. Founded in 1997 by industry veterans Steve Willis, founder of Wellfleet Communications (now Bay Networks - Nasdaq: BAY), and Mike Grady, founding engineer of Stratus Computer, the company excels at the combination of high performance networking and non-stop computing. SOURCE Argon Networks, Inc. /CONTACT: Chris Baldwin, VP Marketing of Argon Networks, Inc., 978-486-0665, ext. 109; or Sheryl Schultz of SRS Associates, 508-647-0044, or sheryl@srsassociates.com, for Argon/ /Web site: argon.com argonnetworks.com