Crescent Networks Appoints Chief Technical Officer, Senior Vice President of Engineering and Vice President of Marketing.

Business/Technology Editors

LOWELL, Mass.--(BUSINESS WIRE)--May 8, 2001

Network Infrastructure Firm Attracts Leading Industry Executives

From TollBridge, Intel and Ciena

Crescent Networks today announced the appointment of three top executives to lead the company's technical, engineering and marketing functions. James Luciani joins Crescent Networks as Chief Technical Officer, Jim Finucane as Senior Vice President of Engineering and Douglas Faber as Vice President of Marketing.

The addition of these leading industry veterans to Crescent Networks demonstrates both the strong value of Dense Virtual Routed Networking (DVRN) solutions for today's carriers looking to provide profitable routed network services, and Crescent Networks' lead development for DVRN solutions.

"We are privileged to appoint such unmatched industry executives like Jim Luciani, Jim Finucane and Doug Faber to three central roles here at Crescent Networks," says Gerald Wesel, president and CEO at Crescent Networks. "This is an important time for both Crescent Networks and our industry. These appointments further strengthen our first-class team and validate our leading advances for DVRN solutions for carrier profitability."

Biographical Backgrounds:

Jim Luciani, Chief Technical Officer

Prior to joining Crescent, Jim had spent the last year at TollBridge Technologies as a Consulting Engineer in the CTO's office. During his time at TollBridge, Jim conceived of and was chief architect for TollBridge's next-generation product. Prior to that, Jim spent four years at Bay Networks and then Nortel Networks as the Director of Engineering and Consulting Engineer in the Core Router Division where he was responsible for the DWDM architecture for Nortel's Versalar 25000. From 1997 to 1999, Jim was co-founder and director in the Bay Architecture Lab where he directed groups spread across multiple sites worldwide. As a member of the architecture lab, Jim spent much of his time articulating Bay Network's technical strategy to major customers in the US, Europe and Asia. Prior to Bay, Jim held positions at Ascom Nexion/Timeplex and IBM.

Jim is currently the Chair of the IP over Optical (IPO) Working Group in the IETF. He is an author of several drafts in the IP over Optics group and was a driving force behind the working group's creation. Jim earned a Doctorate and a Master of Science in Computer Engineering from Syracuse University. He received his BS in Computer Science from Pennsylvania State University.

Jim Finucane, Senior Vice President of Engineering

A former Senior Vice President of Engineering at Shiva/Intel, Jim was also the Intel Architecture Lab Network Architect. Previously, Jim led AT&T's Internet Services Division, serving as VP with responsibility for WorldNet service delivery. In addition, he was a Bell Labs Research Vice President. Jim spent eight years at MCI managing the design and development of the core of MCI's intelligent call routing network. After earning a MS in Computer Science from George Washington University, Jim worked two years toward a PhD in Computer Science at the University of Maryland. He earned his BS in Physics from Case Western Reserve University.

Doug Faber, Vice President of Marketing

Doug has over 20 years of experience in the networking industry, in functions ranging from product management, marketing, and business development, to consulting, and engineering. Before joining Crescent Networks, Doug served as Director of Product Planning & Management for the Access Systems Division of CIENA (previously Omnia Communications), and was responsible for the company's next generation optical access network products. Earlier, Doug served as Product Line Manager for SONET/SDH transport products at Tellabs. He also held positions in international marketing and business development for ATM switching systems and T1/E1 access systems during his career at Tellabs. He has also held several marketing and engineering positions at Bell Laboratories and Zenith Electronics. Doug holds a BSME from Ohio State University, an MS in Engineering from M.I.T., and an MBA from Northwestern University.

About Crescent Networks

Crescent Networks, Inc. is a privately held company headquartered in Lowell, Massachusetts providing the first carrier-class solutions for profitable routed network services. Utilizing Dense Virtual Routed Networking (DVRN) with full-spectrum dynamic virtual routing, optical-rate application-aware quality of service and simple, but powerful service management, Crescent Networks' solutions dramatically reduce incremental capital equipment costs and the ongoing operations expense of supporting numerous overlay, routed networks and enables network service providers to finally deliver routed network services profitably throughout their network.

Crescent Networks is funded by industry-leading investors led by top-tier venture firms - Bessemer Venture Partners, Comdisco, JAFCO Ventures, St Paul Venture Capital and Venrock Associates. Its top-notch talent has a proven track record for successful networking solutions at leading companies including 3Com, AT&T, Cabletron, Cascade, Ciena, Digital, Intel, Lucent Technologies, MCI WorldCom, Newbridge and Nortel Networks. For more information visit http://www.crescentnetworks.com