$55 Million Growth Investment Launches Packet-switched Network Architect Raviant Networks.

Business Editors & Technology Writers

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Aug. 28, 2000

Raviant Networks, a premier architect of packet-switched, carrier-grade network solutions, today launches a new corporate identity and announces it has attracted $55 million in growth capital.

Raviant had previously established itself as a provider of specialized consulting services for clients with complex communication requirements. Clients have included Sprint Corp. and WorldCom, Inc., along with major network element providers and local exchange carriers such as Birch Telecom. Raviant revenue from services has grown from $2 million in 1997 to $16 million in 1998 and $33 million in 2000.

"Our new identity reflects transformation, not only within our company, but throughout the telecommunications industry," said Raviant President and Chief Executive Officer Matt Cullen. "Raviant is now properly positioned as a premier provider of high-performance broadband network solutions."

In addition to launching its new corporate identity, Overland Park, Kan.-based Raviant today announces that it has attracted $55 million in growth capital from Crest Communications Holdings and Apollo Management.

Raviant will use the investment to attract top management and technical talent, to expand into additional telecom-centric locations, and to create a showcase integration and software development center, among other initiatives, Cullen said.

"We've responded to the growing and changing needs of the rapidly expanding telecom marketplace," Cullen said. "We are pleased to have Crest Communications Holdings and Apollo Management as strategic and financial partners. In addition to strengthening our balance sheet, this financing enables us to pursue the exciting growth called for in our business plan by reaching out to a nationwide audience of target customers and markets."

Industry experts consider Raviant an important player in the growing fields of packet-switched networks and Internet infrastructure development. Anticipating that computing will increasingly focus on business-to-business communication, integration companies like Raviant are poised to surge.

"The integration of voice and data networks is essential to meeting the growing bandwidth demands of telephone companies, large enterprises, and small to medium-sized businesses," said William Sprague, managing director of Crest Communications Holdings LLC.

"Raviant is one of a very few companies that has the experience and expertise to design and manage the integration of voice and data networks. We believe that Raviant will become the preeminent provider of core integration products and services to large providers and users of converged broadband networks," Sprague said.

Raviant's technological expertise was also the driving force behind Apollo Management's $27.5 million investment, according to Andrew Africk, a partner at Apollo.

"We were attracted to Raviant because of its employees, whose technological expertise is critical to the global progression to packet-based broadband networks," said Africk. "Its place among emerging technologies and the early adopters of convergent networks positions Raviant to benefit from the explosive growth that will occur as modes of communication are continually redefined."

Raviant Investor Profiles 

Crest Communications Holdings, LLC manages more than $150 million in private equity capital focused on investing in communications companies that are benefiting from the worldwide transition to an information-based economy. Crest invests $5 million to $20 million per company to assist in various stages, including growth, acquisition, and consolidation.

Apollo Management, L.P. is a private equity investment firm based in New York, Los Angeles, and London. Since its inception in 1990, Apollo and its affiliate funds have invested in excess of $10 billion in response to the needs of its strategic partners in a broad range of industries.

Raviant Networks builds packet-switched, carrier-grade network solutions for telecommunications carriers, network element providers, and Fortune 500 companies seeking to increase revenues and market value in the new economy. Raviant has 70 employees with 1999 services revenue in excess of $30 million.

For more information about Raviant, visit its Web site at www.raviant.com.