Covad Appoints Chris Dunn as Chief Financial Officer.

SAN JOSE, Calif. -- Covad Communications Group, Inc. (AMEX:DVW), a leading national provider of integrated voice and data communications, today announced the promotion of Chris Dunn to Chief Financial Officer. He replaces John Trewin who is leaving to pursue other opportunities. Mr. Dunn's promotion is effective immediately.

Mr. Dunn joined Covad in May of 2005 as Vice President of Financial Planning and Analysis. He brings to Covad 12 years' financial, venture capital and operational experience with a strong background in business development, corporate finance and mergers and acquisitions.

Prior to joining Covad, Mr. Dunn served as COO and CFO at Santa Cruz Networks, a venture-backed communication services company focused on developing real-time, on demand communications services, including data, voice and video. While at Santa Cruz Networks, Mr. Dunn was instrumental in reducing operating expenses, growing revenue and recapitalizing the company.

Dunn has held financial management positions in the technology, energy, and financial services industries, most notably with Pacific Venture Capital, PG&E and GE Capital.

"We appreciate the work John has done for Covad, particularly his work in continuing the improvements in our internal financial processes. We wish him success in his future endeavors," said Charles Hoffman, president and chief executive officer of Covad. "Chris was our planned successor for the CFO position and I have every confidence that he will continue Covad's financial discipline and play a key role in managing our financial affairs."

About Covad

Covad is a leading nationwide provider of integrated voice and data communications. The company offers DSL, Voice Over IP, T1, Web hosting, managed security, IP and dial-up, and bundled voice and data services directly through Covad's network and through Internet Service Providers, value-added resellers, telecommunications carriers and affinity groups to small and medium-sized businesses and home users. Covad broadband services are currently available across the nation in 44 states and 235 Metropolitan Statistical Areas (MSAs) and can be purchased by more than 57 million homes and businesses, which represent over 50 percent of all US homes and businesses. Corporate headquarters is located at 110 Rio Robles San Jose, CA 95134. Telephone: 1-888-GO-COVAD. Web Site: www.covad.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

The foregoing contains "forward-looking statements" which are based on management's current information and beliefs as well as on a number of assumptions concerning future events made by management. Examples of forward-looking statements include expectations regarding regulatory decisions. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Covad's control that could cause actual results to differ materially from such statements. These risk factors include future changes in telecommunications regulations and litigation concerning current regulations, among other risks. For a more detailed description of the risk factors that could cause such a difference, please see Covad's 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission. Covad disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of Covad.