ComVentures' New Partner Paul Vabakos Brings Significant Networking and Internet Expertise to Investment Team.

Business Editors/High-Tech Writers

PALO ALTO, Calif.--(BUSINESS WIRE)--March 13, 2000

New Partner Enables Firm to Take On Additional Venture Capital,

Increasing Total ComVentures IV Fund to $350 Million

ComVentures, a leading venture capital firm focusing on investments in early-stage communications and Internet companies, announced today that Paul Vabakos has joined the firm as its fifth general partner.

This addition to the ComVentures team puts the firm in a position to manage an additional $100 million in venture capital in ComVentures IV, an equity fund announced in November 1999, bringing the fund total to $350 million. Vabakos comes to ComVentures from Norwest Venture Partners, where he invested in communications, service provider, and Internet software companies.

"Paul is a tremendous addition to the ComVentures team," said Clifford Higgerson, general partner at ComVentures. "His blend of business development experience and technical understanding, along with his tremendous enthusiasm for the venture capital process, will be a strong asset to the firm and its portfolio companies."

"My passion has always been launching new technology-based businesses," said Vabakos. "I see real synergy between my experiences and approach to the market and the ComVentures team. The firm is preeminent amongst venture capital partnerships for communications equipment and services -- I look forward to playing a part in ComVenture's continued success."

Vabakos' first investment at ComVentures is AduroNet Ltd., an advanced IP services wholesaler based in Europe.

Reynie Ortiz, chairman, CEO and founder of AduroNet (and previous managing director of Qwest International), said, "Paul's extensive technical knowledge combined with an entrepreneurial business mind makes him invaluable at spotting and capturing innovative opportunities. Paul is a great resource and friend -- he is tirelessly committed to supporting the success of Aduronet."

Vabakos joins ComVentures from Norwest Venture Partners, where he played a key role in the investment in Cerent Corp., a developer of next-generation optical transport products. Cerent was acquired by Cisco Systems in November 1999, for a record $6.9 billion in stock, the highest price ever paid for a private technology company.

He also invested in Siara Systems while at Norwest, which resulted in a $4.3 billion acquisition by Redback Networks. Vabakos' other investments included CoSine, ipVerse, Omneon Video Networks, Shoreline Teleworks, SkyStream, Website Pros, Webstacks, Yipes and Zettacom.

"As a venture investor in Cerent, Paul provided invaluable strategic and technical advice that helped drive the company into a dominant market position and subsequent successful acquisition by Cisco," said Carl Russo, president and CEO of Cerent.

Before Norwest, Vabakos was involved in new business development and product line management at Cisco Systems, initiating programs in broadband networks, voice over IP, and Web appliances. Earlier, he worked at McKinsey & Co., an international management-consulting firm, advising technology clients on communications and computing.

Vabakos holds three Master's degrees from Stanford University -- an M.B.A., an MSEE/MSCS in data networking, and an MSME/ MSIE in manufacturing systems -- plus a dual degree from Dartmouth College in engineering and economics.

About ComVentures

ComVentures is one of the first venture capital firms to focus solely on early-stage investments in the communications and Internet space. The individual partners have a combined experience of more than 75 years in the communications arena and have played key roles in the formation of many of the industry's leading companies.

These companies include Advanced Fibre Communications (Nasdaq:AFCI), America Online (NYSE:AOL), Ascend Communications (now merged with Lucent Technologies, NYSE:LU), Broadcom (Nasdaq:BRCM), Ciena (Nasdaq:CIEN), Copper Mountain (Nasdaq:CMTN), Digital Island (Nasdaq:ISLD), Monterey Networks (now merged with Cisco Systems, Nasdaq:CSCO), MCI (Nasdaq:WCOM), Newbridge (NYSE:NN), Octel (now merged with Lucent Technologies, NYSE:LU), PairGain (Nasdaq:PAIR), Paradyne (Nasdaq:PDYN), Tellabs (Nasdaq:TLAB), Tut Systems (Nasdaq:TUTS), and 3Com (Nasdaq:COMS).

The partners' investment record -- unsurpassed in the industry -- reflects the invaluable insight and unmatched experience they bring to their portfolio companies. Based in Palo Alto, ComVentures currently manages funds valued at more than $600 million. To learn more about ComVentures, please visit the company Website at www.comven.com.