Agilent Technologies Signs Agreement to Purchase Assets from PXIT, a Test and Measurement Systems Provider for High-Speed Data Communications.

SANTA CLARA, Calif. & LEXINGTON, Mass. -- Agilent Technologies Inc. (NYSE:A) and PXIT Inc. today announced they have signed a definitive agreement for Agilent to purchase assets of the optical transceiver test segment of PXIT. PXIT, based in Lexington, Mass., is a leading provider of cost-effective signal integrity testing solutions for broadband optical transceiver manufacturers. The transaction is subject to standard closing conditions. Financial details were not disclosed.

The combined technology and capabilities of these companies will allow Agilent to continue to innovate in the strong and evolving manufacturing test market, providing R&D and manufacturing customers with increasingly flexible, cost-effective, fast and accurate test systems. The acquisition benefits both companies by combining PXIT's technology with Agilent's worldwide channel to lead the optical transceiver test market. Agilent will make offers to all of PXIT's Lexington-based employees.

"This acquisition will further strengthen Agilent's leadership in optical transceiver test systems and supports our ongoing commitment to the manufacturing test market," said Stephen W. Hinch, general manager of Agilent's Digital Signal Analysis Business Segment. "PXIT's vector-sampling technology will provide broadband optical transceiver manufacturers with a cost-effective solution that is flexible, accurate and faster than other technology available today."

"Agilent's proposed acquisition of PXIT assets is the ultimate endorsement of the innovative and customer-driven product designs pioneered by PXIT," said Ultan O'Raghallaigh, CEO of PXIT. "Access to Agilent's global sales network will optimize the opportunity for PXIT's products to become the predominant solution in manufacturing test in the optical communications industry."

About PXIT

PXIT develops and manufactures test and measurement systems primarily for use in high-speed data communications. Based in Lexington, Mass., the company was formed through the merger of Tsunami Photonics Limited with PX Instrument Technology and more recently with FiberGrade Inc.

About Agilent Technologies

Agilent Technologies Inc. (NYSE:A) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 19,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.0 billion in fiscal year 2006. Information about Agilent is available on the Web at www.agilent.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding the completion of Agilent's proposed acquisition of PXIT's assets (the "Closing"), Agilent's Design Verification and DFM business, the combined product portfolio of Agilent and PXIT following the Closing, the ability of Agilent to meet certain strategic objectives, the expectation that PXIT employees will join Agilent, and Agilent's willingness and ability to develop and support PXIT's products following the Closing. These forward-looking statements involve risks and uncertainties that could cause Agilent's results to differ materially from management's current expectations. Such risks and uncertainties include, but are not limited to risks associated with the ability to effectuate the acquisition on a timely basis, risks associated with changes in demand for Agilent's and PXIT's products and risks associated with the development generally of Agilent's overall strategic objectives.

In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; ongoing competitive, pricing and gross margin pressures; the impact of geopolitical uncertainties on our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix and other risks detailed in Agilent's filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the period ended July 31, 2006. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.

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