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Technology Stocks : Advanced Fibre (AFCI) ** IPO -- Ignore unavailable to you. Want to Upgrade?

To: Douglas V. Fant who wrote (2081)	4/1/1999 11:21:00 AM
From: Nam, Ki Hyung	Read Replies (3) \| Respond to of 3299

AFC Announces Appointment of John Schofield as President & Chief Executive Officer PETALUMA, Calif., April 1 /PRNewswire/ -- Advanced Fibre Communications(R), Inc. (AFC) (Nasdaq: AFCI) announced that John A. Schofield has been appointed President and Chief Executive Officer. Mr. Schofield will take over from Don Green, Chairman of the Board and a founder of AFC, who has been acting CEO since June of 1998. Mr. Schofield will assume this new position on a full time basis on April 12, 1999. Mr. Schofield, 50, was formerly Senior Vice President of ADC Telecommunications Inc., and President of its Integrated Solutions Group. In this position, he was the principal executive officer managing the division. ADC Integrated Solutions Group provides turnkey system solutions to telecommunications providers such as Regional Bell Operating Companies (RBOCs), Competitive Access Providers (CAPs), Interexchange Carriers (IXCs), and Competitive Local Exchange Carriers (CLECs). Under Mr. Schofield's leadership, the division grew from 10 Million in revenues in 1995 to 200 Million in revenues in 1998. As of December 1, 1998, the division employed 1,450 people and has established operations in Europe, Asia and Latin America."We're pleased to have someone with John's extensive executive experience join AFC," said Don Green, acting CEO and Chairman of the Board. "He has demonstrated leadership and expertise in all areas of the telecommunications industry in many parts of the world, and we believe he is the ideal person to lead AFC into the next century." Mr. Green will continue in his role as Chairman of the Board.Mr. Schofield has thirty years of general management, marketing and sales experience in multiple industries, including extensive international experience in Australia, New Zealand, Europe and the United States. AFC is a leading manufacturer of telecommunications systems for the "local loop" between telephone service users and public telephone networks worldwide. AFC has pioneered a single platform that supports any network, any transport, and any service. AFC's flagship product the UMC 1000(R) Multi-Service Access Platform provides any service from POTS to xDSL over copper, fiber, and wireless transport media. Additional information about AFC can be found on the Internet at fibre.com. NOTE: Advanced Fibre Communications, AFC, the AFC logo, Universal Modular Carrier, and UMC 1000, Any Network, Any Transport, Any Service are registered trademarks of Advanced Fibre Communications, Inc.