BUSINESS SUMMARY
Zhone Technologies to Acquire Paradyne Networks
Combination Provides Scale and Solutions to Address U.S. and Global
Network Operators
OAKLAND, CA — July 8, 2005 — —
Zhone Technologies, Inc. (Nasdaq: ZHNE), the first company dedicated
solely to delivering the full spectrum of next-generation access infrastructure
equipment, today announced that it will acquire Paradyne Networks, Inc.
(Nasdaq: PDYN), a leading provider of triple play broadband loop carriers
(BLCs) and Ethernet access equipment.