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Cabletron Declares Distribution Ratio for Riverstone Spin-Off; Distribution Ratio Established At .5131 Riverstone Shares for Each Cabletron Share.

Business/Technology Editors

ROCHESTER, N.H.--(BUSINESS WIRE)--July 27, 2001

Cabletron Systems, Inc., (NYSE: CS) a holding company for networking and telecommunications companies, announced today that the distribution ratio for the Riverstone Networks' (NASDAQ: RSTN) distribution is .5131 shares of Riverstone common stock for each share of Cabletron common stock. The distribution will occur at 7:00AM EST on August 6, 2001 to holders of record of shares of Cabletron stock as of 5:00PM EST on July 27, 2001. Cash payments will be made in lieu of fractional shares. For more information concerning the share distribution, visit www.cabletron.com.

In February 2001, Riverstone completed an initial public offering of 10,000,000 shares of its common stock. Cabletron currently holds approximately 86% of the Riverstone issued and outstanding common stock. On August 6, 2001, Cabletron will no longer own any shares of Riverstone and Riverstone will be a fully independent, publicly traded company.

The final ratio was determined by dividing the total number of shares of Riverstone to be distributed in the spin-off by the total number of shares of Cabletron common stock outstanding as of 5:00PM EST, on the record date, July 27, 2001.

About Riverstone Networks

Riverstone Networks, Inc., (Nasdaq: RSTN) builds routers that convert raw bandwidth into profitable services for Metropolitan Area Networks. Riverstone's products enable the creation of profitable services and the delivery of these services over next-generation and legacy networks, including SONET/SDH, Gigabit Ethernet, T1/E1, T3/E3, ATM and Dense Wavelength Division Multiplexing (DWDM). Riverstone products bring together fourth-generation Application Specific Integrated Circuits (ASICs), battle-tested routing software, and unparalleled media versatility to deliver comprehensive solutions for metropolitan area networks. Riverstone's products are deployed in more than 40 countries and in some of the world's largest networks, including British Telecom, Korea Telecom, Genuity, MCI WorldCom, MAE West Ames, EarthLink, NTT, and Telefonica. For more information, please visit the company's Web site at http://www.riverstonenet.com.

About Cabletron Systems

Cabletron Systems, based in Rochester, NH, was founded in 1983. Initially a provider of world-class networking solutions, Cabletron announced its corporate transformation to a holding company in 2000. Today, Cabletron is a holding company for three of the most innovative, customer-focused organizations in the telecommunications and networking industry: Aprisma Management Technologies, Enterasys Networks, GlobalNetwork Technology Services and Riverstone Networks. For more information on Cabletron Systems, visit www.cabletron.com.

Riverstone Networks is a trademark of Riverstone Networks, Inc. All other trademarks, service marks and trade names belong to their respective owners.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 27, 2001
Words:420
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