Crescent Networks Appoints Senior Marketing, Human Resources, Professional Services and Sales Executives.

Business/Technology Editors

LOWELL, Mass.--(BUSINESS WIRE)--Jan. 10, 2001

Dense Virtual Routed Networking (DVRN) Company Continues Its Rapid

Growth for Providing the Next-Generation Network Services Platform

Crescent Networks today announced the addition of four executives to its stellar team to head up the company's strategic marketing, human resources, and professional services functions and eastern US sales territory. With the addition of these industry veterans, Crescent Networks furthers it rapid expansion and innovative development of the next-generation IP platform based on its Dense Virtual Routed Networking technology enabling carriers to turn raw bandwidth into valuable, business-centric services.

As Vice President of Strategy and Solutions, Abhay Joshi, formerly with McKinsey & Company, will be responsible for developing Crescent Networks' strategies that address the market opportunities that best serve customers, as well as directing how those customers can leverage Crescent Networks' DVRN solutions to increase the value of their service offerings, profits and ultimate success. Additionally, Hilda Haddock will direct Crescent Networks human resources, Kenneth Stumpf joins as Director of Professional Services, and Tony Naples expands Crescent Networks' current sales force and will be responsible for accounts in the eastern region of the US as a Director of Sales.

"These talented individuals all come with the experience, background and contacts that are vital to Crescent Networks as we continue our rapid expansion and leadership in providing the next-generation IP services platform to our customers," says Gerald Wesel, president and CEO at Crescent Networks. "Crescent Networks has received tremendous response to our Dense Virtual Routed Networking technology from service providers, industry and financial analysts. This response is a strong driver for our continued and rapid expansion and the experience these executives bring to our team will be invaluable for this growth."

Biographical Background:

Abhay Joshi, Vice President of Strategy and Solutions

Prior to joining Crescent, Abhay worked at the consulting firm McKinsey & Company, one of the most influential consulting firms in the world, based in Washington, DC. While there, Abhay co-led their optical networking development initiative and directed consulting practices for both equipment suppliers and service providers. Before McKinsey & Company, Abhay worked at Motorola as a Principal Software Engineer and co-authored 7 patents. Abhay obtained a MBA from the University of Chicago, Graduate School of Business; a MSEE from Syracuse University with his thesis and publication on "Reliability of Communications Networks" and a B Technology degree, Electrical Engineering from the Indian Institute of Technology in Bombay.

Hilda N. Haddock, Director of Human Resources

Hilda joins Crescent Networks with 15 years of human resources experience from such companies as GenRad, Racal Datacom - LAN Internetworking Division and InterLan. Her most recent position was at GenRad, where she was responsible for managing and directing the development and implementation of strategic human resources activities and processes for both their corporate and North America field offices. Her background includes the implementation of compensation and benefits plans, employee relations programs, as well as advising and coaching management. Hilda holds a M.S. in Public Administration with a concentration in Compensation and Benefits and a B.S. from the University of Puerto Rico.

Kenneth Stumpf, Director of Professional Services

The Professional Services expertise that Ken brings to Crescent Networks is derived from 17 years of telecommunications and systems experience with industry leaders such as Cascade Communications/Ascend Networks/Lucent Technologies, IBM Global Services, Sprint, and Digital Equipment Corporation. Just prior to Crescent Networks, Ken was the Director of Professional Services at Accelerated Networks. His responsibilities included the support and enhancement of next generation voice and data service offerings for CLEC, ILEC, IXC and BLEC customers. He holds a M.B.A. from New Hampshire College and a B.S. in Computer Science from the University of Massachusetts.

Tony Naples, Director of Sales (Eastern US Region)

Tony comes to Crescent Networks with over 20 years of high-tech sales and marketing experience from companies such as IBM, Wellfleet/Bay Networks and Texas Instruments. His previous sales accounts list well-known companies in the industry, including MCI, GTE, BellSouth, WorldComm, Unisys, AT&T, Motorola and Lockheed Martin. He received his Master of Business Administration and Bachelor of Science from Southern Illinois University.

About Crescent Networks

Crescent Networks, Inc. - a privately held company headquartered in Lowell, MA - provides service providers with breakthrough Dense Virtual Routed Networking (DVRN) for Collaborative IP Services. Crescent Networks DVRN solution dramatically accelerates IP service delivery, liberating service providers from today's IP network design limitations and economical constraints. In the same way that Dense Wave Division Multiplexing (DWDM) and intelligent optical switching transformed optical networking, Crescent Networks' DVRN will transform IP networks and service delivery with breakthrough scale, economies, and new revenue opportunities.

Crescent Networks is funded by industry-leading investors led by top-tier venture firms - Bessemer Venture Partners, 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 Cascade, Lucent Technologies, 3Com, Digital, Cabletron, Nortel Networks and Newbridge. For more information visit http://www.crescentnetworks.com.