Apogee Networks Names S. Craig Huke Chief Financial Officer; Appointment Strengthens its Global Management Team.

Business Editors

SADDLE BROOK, N.J.--(BUSINESS WIRE)--May 22, 2001

Apogee Networks, the leading global provider of advanced Content and IP Rating, Billing and Settlement platforms today announced the appointment of S. Craig Huke as Chief Financial Officer.

In his new position, Huke will assume full responsibility for all financial planning, reporting, analysis and investor relations for Apogee Networks. He brings with him over 15 years of experience working with software and communication companies in the fast paced pre and post IPO environments. Huke will report directly to Tom Goldman, Apogee Networks' President and COO.

"We are very excited to have Craig join our global management team," said Tom Goldman, Apogee Networks' President and COO. "In addition to his proven operational skills, he brings with him a wealth of financial experience working with mergers and acquisitions as well as public offerings. Craig was instrumental in the phenomenal growth of Bluestone Software. He has the expertise in software products, costs and pricing issues to sustain Apogee Networks' success and continue to drive our dramatic growth."

Huke was formerly Chief Financial Officer at Bluestone Software, a publicly traded Internet infrastructure software company, acquired by Hewlett Packard in January 2001. In this position, Huke was a major contributor to several key financing activities including Bluestone's IPO in September 1999, it's Follow-on Offering in February as well as its successful merger with Hewlett Packard in January 2001. During his tenure Bluestone raised in excess of $400 million and revenues increased from an annual rate of $7 million to a run rate in excess of $40 million.

Huke added, "I am very impressed with the breadth of Apogee Networks' Fortune 1000 customer base as well as the uniqueness of its billing technology which enables rapid implementation of revenue and business models. The Apogee Networks' management team has delivered solutions that meet the needs of their customers as well as define the path to profitability."

Prior to Bluestone Software, Huke was the Vice President of Finance, at Metronet Communications Corp, a publicly traded telecommunications company, and was responsible for the finance and accounting related activities prior to its acquisition by AT&T Canada in 1999. Huke's previous work experience also includes senior financial management positions at Seer Technologies and Legent Corporation.

Huke holds a Bachelor of Science from Purdue University and a CPA.

About Apogee Networks

Headquartered in Saddle Brook, New Jersey, Apogee Networks, Inc. develops Content and IP Rating, Billing and Settlement solutions for Content Distributors, ASPs, ISPs, Carriers, Wireless Internet Providers and Enterprise customers. Apogee Networks' NetCountant(R) award-winning product line provides full end-to-end content, revenue settlement, IP billing and usage based chargeback solutions. Uniquely, NetCountant Billing provides real-time billing, flexible service creation and high scalability to meet the challenges of rapid customer growth. Apogee Networks' NetCountant Settlement provides advanced Content aggregation and revenue settlement capabilities. NetCountant Accountability provides Global 2000 Enterprise customers with the capability to better manage and allocate IP usage thereby realizing significant bandwidth cost savings. The company recently was awarded Finalist 2001 Best of Show NetWorld +Interop Award, the 2001 Frost and Sullivan Market Engineering Award for Product Innovation, 2001 OSS Excellence Awards, Finalist/Runner-up, COMNET 2001 New Product Achievement Award, 2000 Communications ASP Product of the Year, 2000 Internet Telephony's Product of the Year Award, 1999 Telecom Business Top 500 Award and 1998 Best of Show Networld +Interop Award. Apogee Networks is a Charter member of the Internet Protocol Detail Record (IPDR) Association.

Investors include Banc of America Securities LCC, Cisco Systems, Fidelity Ventures Limited, Granite Ventures, Oak Investment Partners, INTEL 64 Fund, BBVA, Net One Systems Co., Ltd., and CTC. For additional information call 1-888-APOGEE3 (276-4333), 1-201-368-8800,or or email [e-mail] <mailto:[e-mail]) or visit us at (http://www.apogeenetworks.com/>.