Ianna Nominated to Join Tellabs Board of Directors
November 24 2004 - 1:00PM
PR Newswire (US)
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/
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