Cayman Taps Telecommunications Veteran Peter Vicars as Chief Executive Officer.

Business/Technology Editors

STONEHAM, Mass.--(BUSINESS WIRE)--Jan. 18, 2000

With Three Decades of Operational Experience, Vicars Brings

Aggressive Leadership to Innovative Broadband Company

Cayman Systems Inc., a pioneer in providing intelligent router-based solutions for secure, multi-user access to broadband services, today announced the appointment of Peter N. Vicars as President and Chief Executive Officer. The appointment, which follows the announcement that Cayman recently secured $5 million in initial private placement financing from Charles River Ventures, further establishes the Company's aggressive efforts to sustain its leadership position in the broadband market. With 30 years of executive management experience, Vicars will also serve as a member of Cayman's Board of Directors and play a significant role in the Company's emergence as a top provider of intelligent routers for small offices and home residences.

"Peter's wealth of experience as a CEO at successful, fast-growing telecommunications companies will further expand Cayman's breadth and depth as a top tier competitor," said Richard Burnes, co-founder and general partner at Charles River Ventures and Cayman board member. "In addition, his operational background with both public and private corporations and his successes in helping companies tackle new markets will be a tremendous asset as the Company takes an aggressive stance in the highly competitive broadband market," said Mr. Burnes.

Previously, Vicars was President and CEO at Massachusetts-based Teloquent Communications Corp. where he raised $15.5 million of equity while repositioning and restructuring the firm from an ISDN player into a customer interaction solutions business for web- and phone-based call centers.

Prior to his tenure at Teloquent, Vicars was President and CEO at publicly-traded Tekelec Inc. (NASD: TKLC), a worldwide supplier of network switching and diagnostic solutions for the telecommunications industry. While there, he established and maintained six years of double-digit profitability in the company's core business and oversaw strategic acquisitions, culminating in repositioning of the company as a leading provider of innovative network switching solutions.

"A tremendous opportunity exists for Cayman to meet the enormous demand for innovative, reliable router-based products in the fast-growing broadband market," stated Vicars. "With leading analysts such as Frost & Sullivan forecasting revenues for xDSL equipment to exceed $1.7 billion in 2003, the time to act is now. Cayman stands poised today to meet the needs for expanding bandwidth capabilities and delivering high value-added content over the Internet into the home and small office."

Vicar's 30-year career in the telecommunications industry also includes executive management positions at Lancore Technologies, Qume Corporation, Micropolis Corporation, and Perkin Elmer Corporation. A native of South Africa, his international business experience includes developing successful strategic partnerships and marketing relationships in Israel, Europe, and Japan.

About Cayman

Cayman Systems Inc., based in Stoneham, Massachusetts, is the first firm to develop and deliver intelligent router-based solutions for DSL/cable modems in the small office/home office and residential markets. The Company's advanced technology platform offers an easy-to-use, reliable, and affordable way for end-users to secure high-speed access for broadband services. Recognized by the Massachusetts Telecommunications Council as the "Small Company of the Year" in 1999, Cayman's innovative broadband solutions meet stringent industry standard requirements for security and interoperability. By working with leading international telecommunications service providers and manufacturers, Cayman is helping make the digital age a user-friendly reality for millions of people around the globe.

Cayman Systems and the Cayman logo are trademarks of Cayman Systems, Inc. All other trademarks, brand and product names are the property of their respective holders.