CIENA Announces Completion of ONI Transaction.

Business Editors/Hi-Tech Writers

LINTHICUM, Md.--(BUSINESS WIRE)--June 24, 2002

CIENA Corporation Ciena Corporation NASDAQ: CIEN develops and markets communications network platforms and software, and offers professional services. The Company's broadband access, data and optical networking platforms, software tools, and global network services support worldwide telecom (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CIEN CIEN Ciena Corporation (stock symbol) ) today announced it completed its acquisition of ONI ONI
abbr.
Office of Naval Intelligence

Noun 1. ONI - the military intelligence agency that provides for the intelligence and counterintelligence and investigative and security requirements of the United States Navy Systems Inc. (NASDAQ:ONIS) on Friday, June 21, 2002. According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3. the agreement announced February 18, 2002, CIENA acquired all outstanding shares of ONI in exchange for approximately 100.7 million shares of CIENA common stock and assumed outstanding options and warrants.

The transaction is valued at approximately $397.8 million, based on the closing price of CIENA's common stock on Friday, June 21, 2002.

ABOUT CIENA

CIENA Corporation's market-leading optical networking systems form the core for the new era of networks and services worldwide. CIENA's LightWorks(TM) architecture enables next-generation optical services and changes the fundamental economics of service-provider networks by simplifying the network and reducing the cost to operate it. Additional information about CIENA can be found at http://www.ciena.com.

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Comment:	CIENA Announces Completion of ONI Transaction.
Publication:	Business Wire
Geographic Code:	4EUPR
Date:	Jun 24, 2002
Words:	147
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