Excel switching corporation announces initial public offering.

HYANNIS, Mass--(BUSINESS WIRE)--Excel Switching Corporation announced today the initial public offering of 4,500,000 shares of Common Stock at a price of $21.00 per share. All of the shares are being sold by the Company. A selling shareholder has granted the underwriters an option to purchase an additional 675,000 shares of its Common Stock to cover over-allotments, if any. Morgan Stanley Dean Witter, Hambrecht & Quist, and NationsBanc Montgomery Securities, Inc. served as managers of the underwriting group. The Company's Common Stock is traded on the Nasdaq National Market under the symbol "XLSW."

Excel Switching Corporation is a leading provider of open switching platforms for telecommunications networks worldwide. The Company develops, manufactures, markets and supports a family of open, programmable, carrier-class switches that addresses the complex enhanced services and wireless and wireline infrastructure needs of network providers. The Company's products are currently deployed in telecommunications networks in more than 50 countries throughout the world.

Copies of the prospectus relating to the offering may be obtained from Morgan Stanley Dean Witter, Prospectus Department, Level B, 1585 Broadway, New York, NY 10036; Phone: [phone]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Excel Switching Corporation is headquartered at 255 Independence Drive, Hyannis, Massachusetts 02601. Internet Address: http://www.xl.com . Phone: [phone].

CONTACT: Excel Switching Corporation

Investor Relations, 508/862-3000