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To: Curbstone who wrote (3640)	9/12/1998 3:19:00 PM
From: Diabolique	Respond to of 7342

Mike: 90% of CIEN's revenues comes from Sprint, AT&T and Worldcom. You know the story with AT&T. Sprint and Worldcom have announced they are looking at other suppliers for their fiber optic solution. This could mean a substantial impact on CIEN's forward earnings and is being factored in the stock price.

To: Curbstone who wrote (3640)	9/13/1998 1:38:00 AM
From: Chuzzlewit	Read Replies (2) \| Respond to of 7342

No, and I think that's the essence of the problem with Ciena as it now stands. It has a very small customer base which makes it excessively vulnerable. I don't know precisely where the problems are with Ciena, but there certainly are problems. It is always difficult for shareholders of a fallen high flyer to come to grips with that reality, but I think its necessary for rational investing. In that spirit I ask whether the problem is in the product, the pricing environment or the sales force. Why has the market revalued a company one thought to be worth $6 billion to around $1.6 billion? TTFN, CTC