Advanced Fibre Communications (NASDAQ:AFCI)
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Ianna Nominated to Join Tellabs Board of Directors
NAPERVILLE, Ill., and PETALUMA, Calif., Nov. 24 /PRNewswire-FirstCall/ --
Tellabs (NASDAQ:TLAB) and Advanced Fibre Communications (NASDAQ:AFCI) today
announced that Frank Ianna, director of AFC since February 2004 and retired
president of AT&T Network Services, has been nominated to join Tellabs' board
of directors, after the closure of their pending merger. Ianna will fill the
board seat John Schofield, CEO of Advanced Fibre Communications, was to take as
part of the Tellabs/AFC merger. Schofield is stepping aside due to family
reasons.
Ianna served at AT&T for more than 30 years, beginning as a member of technical
staff at Bell Telephone Laboratories. In 1971, he received a Bachelor of
Science degree in electrical engineering from Stevens Institute of Technology
and a Master of Science degree in electrical engineering from MIT.
The AFC stockholder meeting to approve the merger is scheduled for Tuesday,
Nov. 30. It is anticipated that the closing will occur promptly after this
meeting, assuming AFC stockholders approve the merger.
About Tellabs -- Headquartered in Naperville, Ill., Tellabs delivers technology
that transforms the way the world communicates(TM). Tellabs experts design,
develop, deploy and support our solutions for telecom service providers in more
than 100 countries. More than two-thirds of telephone calls and Internet
sessions in several countries, including the United States, flow through
Tellabs equipment. Our product portfolio provides solutions in next-generation
optical networking, managed access, carrier-class data, voice quality
enhancement and cable telephony. For details, see http://www.tellabs.com/ .
About AFC -- Headquartered in Petaluma, Calif., AFC is a leading provider of
broadband access solutions for the global telecommunications industry. With a
customer base of more than 800 service providers worldwide, AFC continues to
build and support the world's evolving broadband access network architecture.
For more information, please visit AFC online at http://www.afc.com/ or call
1-800-690-AFCI.
Forward-Looking Statements -- Additional Information and Where to Find It
This communication is not a solicitation of a proxy from any security holder of
Advanced Fibre Communications, Inc. Tellabs, Inc. has filed with the
Securities and Exchange Commission a Registration Statement on Form S-4 (File
No. 333-116794) which contains a Proxy Statement/Prospectus. Advanced Fibre
Communications, Inc. mailed a Definitive Proxy Statement/Prospectus to its
stockholders concerning the proposed merger of Advanced Fibre Communications,
Inc. with a subsidiary of Tellabs, Inc. WE URGE INVESTORS AND SECURITY HOLDERS
TO READ THE DEFINITIVE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT
DOCUMENTS TO BE FILED WITH THE SEC, BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Investors and security holders are able to obtain the documents
free of charge at the SEC's website, http://www.sec.gov/ . In addition,
documents filed with the SEC by Tellabs, Inc. are available free of charge from
Tellabs Investor Relations, 1415 West Diehl Road, Naperville, IL 60563,
630-798-8800. Documents filed with the SEC by Advanced Fibre Communications,
Inc. are available free of charge from Advanced Fibre Communications Investor
Relations, 1465 North McDowell Blvd., Petaluma, CA, USA 94954, 707-792-3500.
Interest of Certain Persons in the Merger.
Advanced Fibre Communications, Inc., and its directors and executive officers
and other members of its management and employees, may be deemed to be
participants in the solicitation of proxies from the stockholders of Advanced
Fibre Communications, Inc. in connection with the merger. The directors and
executive officers of Advanced Fibre Communications, Inc. have interests in the
merger, some of which may differ from, or may be in addition to, those of the
stockholders of Advanced Fibre Communications, Inc. generally. Those interests
are described in greater detail in the Definitive Proxy Statement/Prospectus
with respect to the merger, which may include potential membership on the
Tellabs, Inc. Board of Directors, option and stock holdings and
indemnification. Information about the directors and executive officers of
Advanced Fibre Communications, Inc. and their ownership of Advanced Fibre
Communications, Inc. stock is set forth in the proxy statement for Advanced
Fibre Communications, Inc.'s 2004 annual meeting of stockholders. Investors may
obtain additional information regarding the interests of the participants by
reading the proxy statement/prospectus.
NOTICE TO INVESTORS, PROSPECTIVE INVESTORS AND THE INVESTMENT COMMUNITY --
CAUTIONARY INFORMATION REGARDING FORWARD-LOOKING STATEMENTS
Statements in this press release regarding the proposed merger of Tellabs, Inc.
and Advanced Fibre Communications, Inc. which are not historical facts,
including the anticipated timing of the merger, are "forward-looking
statements." Forward-looking statements are not guarantees of future events or
performance and involve risks, uncertainties and other factors that may cause
actual events and either company's actual performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by those statements. Actual events and either company's
actual future results could differ materially from those predicted in such
forward-looking statements. Investors and security holders are cautioned not
to place undue reliance on these forward-looking statement and any such
forward-looking statements are qualified in their entirety by reference to the
following cautionary statements.
Important factors upon which the forward-looking statements presented in this
release are premised include: (a) receipt of regulatory and stockholder
approvals without unexpected delays or conditions and fulfillment of all other
contractual conditions to the closing of the merger; (b) timely implementations
and execution of merger integration plans; (c) retention of customers and
critical employees; (d) economic changes impacting the telecommunications
industry; (e) successfully leveraging Tellabs/Advanced Fibre Communications'
comprehensive product offering to the combined customer base; (f) the financial
condition of telecommunication service providers and equipment vendors,
including any impact of bankruptcies; (g) the impact of customer and vendor
consolidation; (h) successfully introducing new technologies and products ahead
of competitors; (i) successful management of any impact from slowing economic
conditions or customer demand; and (j) protection and access to intellectual
property, patents and technology. In addition, the ability of Tellabs/Advanced
Fibre Communications to achieve the expected revenues, accretion and synergy
savings also will be affected by the effects of competition (in particular the
response to the proposed transaction in the marketplace), the effects of
general economic and other factors beyond the control of Tellabs/Advanced Fibre
Communications, and other risks and uncertainties described from time to time
in Tellabs/Advanced Fibre Communications' public filings with the Securities
and Exchange Commission. Tellabs and Advanced Fibre Communications disclaim any
intention or obligation to update or revise any forward-looking statements.
Advanced Fibre Communications, Inc., AFC, the AFC logo, and DISC*S are
registered trademarks of Advanced Fibre Communications, Inc. The Acronym for
Access is a service mark of Advanced Fibre Communications, Inc.
Tellabs, Tellabs logo, and technology that transforms the way the world
communicates are trademarks or registered trademarks of Tellabs or one of its
affiliates in the United States and/or other countries. Any other trademarks
are the property of their respective owners.
DATASOURCE: Tellabs
CONTACT: Investors, Tom Scottino, +1-630-798-3602, or
, or Media, Ariana Nikitas, +1-630-798-2532, or
, both of Tellabs; or Investors, Debbie McGowan,
+1-707-794-7720, or , or Media, Teresa Novak,
+1-707-793-4410, or , both of AFC
Web site: http://www.tellabs.com/
http://www.afc.com/