Chantry Networks Appoints President and CEO; Peter N. Vicars to Lead Company in Building Next Generation Solutions for Large WLAN Deployments.

Business Editors/High-Tech Writers

TORONTO & BOSTON--(BUSINESS WIRE)--Jan. 23, 2003

Chantry Networks, innovators of scalable, secure, low-cost and highly manageable WLAN solutions, today announced that Peter N. Vicars has been named President and CEO. A 35-year veteran of the computing and telecommunications industries, Mr. Vicars has extensive experience in transitioning companies from start-up mode to market leadership.

"Chantry Networks is uniquely poised to address the critical enterprise and carrier requirements of the rapidly growing WLAN market," said Per Suneby of Flagship Ventures and Chantry's Executive Chairman of the Board. "Peter's vision, company building experience and marketing savvy will be invaluable in achieving large-scale WLAN systems leadership for Chantry."

"While the wireless LAN space represents one of the fastest growing segments in the high tech industry, there are still barriers inhibiting large-scale deployments," added Vicars. "Chantry has the distinct potential to remove these barriers and emerge as the principal supplier in this arena. I welcome the opportunity to help ensure their success."

Vicars brings a highly successful international and domestic track record to Chantry Networks, including his accomplishments as President and CEO at Cayman Systems, Inc., where he led the company from a fringe player to a leading name in the broadband access market. While at Cayman, Vicars was instrumental in acquiring strategic partners and building business relationships, entering into new contracts with Verizon and AT&T. Prior to Cayman Systems, Vicars was President and CEO of Teloquent Communications Corp., a mainstream player in the call center marketplace. Vicars also served as President and CEO of Tekelec, directing all corporate activities of this publicly traded telecommunications company, including oversight of subsidiaries in Japan, Australia, Canada, and the United Kingdom.

Vicars will establish the future headquarters of Chantry Networks in the greater Boston area. He will complement the efforts of co-founder Brian Collie who will remain in Canada and serve as Executive Vice President, Product Operations. Brian will continue to focus on product development and oversee the engineering and manufacturing operations center in Toronto.

About Chantry Networks

Chantry Networks is developing wireless local area network infrastructure equipment and systems that will enable enterprise and service provider customers to easily deploy secure, scalable, centrally managed, and low total cost 802.11x Wi-Fi solutions. Chantry's product architecture will offer standards-based interfaces while leveraging a unique design that allows for enhanced features and functionality. Products will be easier to maintain and service, cheaper to upgrade, and easily integrated into a client's existing broadband infrastructure.

Founded in April of 2002 in Mississauga, Ontario, Chantry Networks is a privately held company with funding from top tier venture capital organizations including U.S.-based Flagship Ventures, Primaxis Technology Ventures in Toronto, Venture Coaches in Ottawa and Vancouver-based Ventures West.