Sorrento Networks and Fujitsu Compound Semiconductor announce development agreement

15 May 2003 San Diego and San Jose, CA Lightwave -- Sorrento Networks Inc. and Fujitsu Compound Semiconductor Inc. (FCSI), subsidiary of Fujitsu Quantum Devices Ltd., have executed an agreement naming each company a "strategic technical partner" of the other. The purpose of the agreement is to insure that each company is kept informed of developing technologies in the other's field of expertise and to provide a basis for technical cooperation in development efforts.

"I am pleased that Sorrento and Fujitsu will be working together as strategic technical partners to advance our mutual interests in the field of optical networking technology," asserts Sorrento chairman Phil Arneson. "Fujitsu is a respected worldwide corporation and is an industry leader in lightwave compound semiconductor devices. We believe this agreement will be very positive in helping Sorrento's R&D initiatives to develop products that will serve our customers' needs both now and in the future."

"Sorrento is an industry leader in the field of optical networking systems for metro and regional applications and can help Fujitsu develop and refine cutting edge, application-specific components both for Sorrento and other companies in this important industry," adds Yutaka Hirano, president and chief executive officer or FCSI. "We look forward to a long and mutually satisfying relationship with Sorrento and the industry at large."