WaveSplitter Brings E-Tek Executive, Bill Diamond, On-Board As President and CEO

WaveSplitter Announces New VP of Operations

Fremont, CA, June 26, 2000 -- WaveSplitter Technologies, Inc., a worldwide supplier of fiber optic components for optical amplifier and DWDM systems, today announced that Bill Diamond will join the company as President and Chief Executive Officer. Diamond brings over 20 years' global business experience in the fiber optics and telecommunications industries, working for world-class companies including E-Tek Dynamics, Lucent Technologies and Lasertron. Diamond joins WaveSplitter from his most recent position at E-Tek Dynamics where he was vice president of marketing and was a major contributor in the company's successful IPO.

"Bill's leadership and industry experience will enable us to accelerate WaveSplitter's growth as a major global supplier of very high performance and extremely reliable optical components," said Sheau Chen, Ph.D., current CEO and founder of WaveSplitter. "Now that we have established on-going volume business relationships with leading telecommunications system vendors, it's time to step up from start-up mode. Bill caps off the world-class management team we've been assembling and has everything it takes to leverage what we offer and make us a giant in this industry." As Chairman of the Board, Dr. Chen will remain actively involved in management, focusing on new product development strategies and strategic alliances.

Mr. Diamond joins WaveSplitter from E-Tek Dynamics where he was vice president of marketing and contributed heavily to the tremendous success of the company's IPO. Prior to E-Tek, Diamond directed the worldwide marketing activities for Lucent Technologies' Optoelectronics business unit. In addition, Diamond has served in various operations, sales and general management roles in the U.S. and Europe.

"WaveSplitter has developed outstanding products that address a very high growth market by enabling higher bandwidth DWDM optical networks and flexible architectures for metro and access applications," said Bill Diamond. "They have a seasoned management team in place and I look forward to working closely with Sheau to execute his original vision. With its technology, products and people, WaveSplitter is positioned to become a leading supplier of fiber optic components worldwide."

About WaveSplitter Technologies, Inc.

WaveSplitter Technologies, Inc. develops, manufactures and markets reliable, highly scalable, cost-effective components for optical amplifier and DWDM systems for both long-haul and metropolitan area network applications. WaveSplitter's high-performance fiber and planar lightwave circuit components increase network bandwidth capabilities and offer a unique combination of low signal loss and modular expandability at an economical value. WaveSplitter was founded in 1996 and is headquartered in Fremont, California. WaveSplitter is a trademark of WaveSplitter Technologies, Inc. All other trademarks are the properties of their respective owners.

For more information, reporters can contact:

Lisa Blair
WaveSplitter Technologies, Inc.
Phone: 510-651-7800 x 243
Fax: 510-580-1395
E-mail: lisa_blair@wavesplitter.com