Covad Communications Appoints Larry Irving to Board of Directors; Former Assistant Secretary of Commerce to Join Board of Leading DSL Company.

Business Editors & High-Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--May 23, 2000

Covad Communications (Nasdaq: COVD), the leading national broadband services provider utilizing Digital Subscriber Line (DSL) technology, announced today the appointment of Larry Irving, former Assistant Secretary of Commerce for Communications and Information, to its board of directors.

Currently, Irving is co-founder, interim president and chief executive officer of UrbanMagic.com, an Internet portal for the African-American community, scheduled to be launched later this year.

During his tenure as Assistant Secretary, Irving, 44, was a principal advisor to President Clinton, Vice President Gore, and Secretaries of Commerce Ronald H. Brown, William Daley and Mickey Kantor on domestic and international communications and information policy issues. Irving also took an active role in the reform and passage of the Telecommunications Act of 1996.

"Larry will be a major contributor to Covad's growth because of his in-depth understanding of the opportunities in the delivery of broadband Internet," said Robert E. Knowling, chairman, president and chief executive officer of Covad. "In addition, his experience in Washington, D.C. will be a tremendous contribution to Covad's leadership position. We welcome him to the Covad family."

Irving, a resident of Los Angeles and Washington, D.C., earned a Bachelor of Arts at Northwestern University and graduated with a law degree from the Stanford University School of Law, where he was president of his class.

About Covad

Covad Communications is the leading national broadband service provider of high-speed Internet and network access utilizing Digital Subscriber Line (DSL) technology. It offers DSL services through Internet Service Providers, telecommunications carriers, enterprises, PC OEMs and ASPs to small and medium-sized businesses and home users. Covad also offers virtual Internet and broadband services through its acquisition of LaserLink.net, a leading provider of branded Internet access. Covad services are currently available across the United States in 67 of the top Metropolitan Statistical Areas (MSAs) and will be available in 100 MSAs by the end of 2000. At that time, Covad's network will reach more than 40 percent of all U.S. homes and 45 percent of all US businesses. Covad Communications and its affiliates, doing business as Covad Communications Company, are wholly owned subsidiaries of Covad Communications Group, Inc. Corporate headquarters is located at 2330 Central Expressway, Santa Clara, CA, 95050. Telephone: 1-888-GO-COVAD. Web Site: www.covad.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts may be deemed to contain forward-looking statements, including but not limited to statements regarding the intention to deploy our network in new and existing MSAs, the timing and breadth of coverage in each MSA, our ability to reduce our prices, the success of any Internet sites or Internet portals, our ability to simplify our ordering processes, the successful marketing of our services and products, and our ability to provide multimedia content. Actual results may differ materially from those anticipated in any forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the company's dependence on incumbent local exchange carriers for collocation, unbundled network elements, transport and other facilities, development of necessary technologies and operations, ability to manage growth of our operations, and the need to raise additional capital. For other risks and uncertainties applicable to our business refer to the Company's Securities and Exchange Commission filings.