Accelerated Networks Announces Senior Management Changes.

Business Editors

MOORPARK, Calif.--(BUSINESS WIRE)--Feb. 20, 2001

Accelerated Networks, Inc. (Nasdaq:ACCL), a leading developer of multi service broadband access solutions for communications service providers, today announced several key changes to the management team at the Company.

The Company has named H. Michael Hogan as vice president and chief financial officer, replacing Fred Boyer, who has resigned to pursue other opportunities. Hogan is a principal with Regent Pacific Management Corporation and has more than 15 years of experience advising companies in telecommunications, technology and manufacturing. Hogan has held several senior financial and management positions, most recently chief financial officer of 3D Systems, Inc. in Valencia, Calif. Hogan holds a Bachelor's degree from Colgate University and several financial professional certifications.

In addition, the Company has appointed Benjamin DiLello to the newly created position of vice president of worldwide sales and marketing. DiLello is also a principal with Regent Pacific and has more than 20 years of experience selling enterprise solutions to Fortune 500 companies. DiLello has held several senior sales and marketing management positions.

DiLello will be responsible for the day-to-day activities of the sales and marketing organizations, whereby he will evaluate the sales organization, better align sales and marketing capabilities, and determine key markets and products as well as methods for addressing those markets.

"The appointment of these key personnel within the organization is the first step in our evaluation of Accelerated's strategic position and product direction, and will allow us to focus on our goal of future growth and profitability," commented Gary J. Sbona, chairman and chief executive officer of Accelerated Networks. "Our immediate objective is to get the business into a position of financial strength on which we can effectively execute in the current market environment. We strongly believe that the addition of Mike and Ben to the team will better position Accelerated to continue to successfully address the market for broadband access equipment."

"The new executive team is currently focused on analyzing the business and operational issues and in developing a new go-forward plan for Accelerated Networks. We expect that this process will take several weeks. We look forward to talking with the investment community and sharing our detailed plans as they solidify," concluded Sbona.

About Accelerated Networks

Accelerated Networks, headquartered in Moorpark, Calif., is a market leader in multiservice broadband access (MSBA) products that enable telecommunications service providers to bundle voice and data services over a single broadband access network. These products are designed to allow service providers to efficiently and cost-effectively deliver and manage secure multiservice broadband access services using DSL, T1/E1, NxT1/E1, or DS3/OC-3 technologies. Accelerated's products also allow service providers to leverage emerging technologies such as voice over broadband (VoB) and frame relay over DSL (FRoDSL) over a single broadband access network. Accelerated Networks offers all of the components of a complete multiservice broadband access solution: carrier-class voice gateways, central office and multi-tenant unit concentrators, and a broad range of customer premises integrated access devices (IADs). For additional information, please visit www.acceleratednetworks.com.

Portions of this press release contain forward-looking statement regarding future events or the future performance of the Company. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from any future performance suggested in such statements. These factors include, but are not limited to, the ability of our recently appointed officers, including our CEO and CFO, to quickly integrate with and manage the company's personnel and business, general market conditions affecting communications service providers purchase of equipment, in particular, DSL-related equipment, changes in service providers' business models, the rate our customers deploy their networks, our customers' ability to secure financing, the timing of order and shipments of products, mix of products sold, changes in the prices of our components, ability to maintain production volumes and secure key components, and our ability to develop new products to meet market demand. The Company undertakes no obligation to publicly update any forward-looking statements whether or as a result of new information, future events or otherwise. Please refer to the Company's periodic filings with the SEC, in particular the Company's quarterly report on Form 10Q filed on November 14, 2000 and the Registration Statement on Form S-1, filed in connection with the Company's initial public offering. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in any forward-looking statements.