Packeteer Appoints Networking Technology Veteran to Board of Directors; L. William Krause Assumes New Board Seat; Two Directors to Retire

Business Wire, March 28, 2001

Business Editors

CUPERTINO, Calif.--(BUSINESS WIRE)--March 28, 2001

Packeteer(R), Inc. (Nasdaq:PKTR), a leading provider of application performance infrastructure systems, today announced the appointment of L. William Krause, President of LWK Ventures and past Chairman and CEO of 3Com Corporation, to its board of directors. It further announced that Peter Morris, a first-round investor, and Bob Packer, a co-founder, would retire from the board at this time.

"Bill has a wide variety of experience with companies at all stages of growth and has long been a leader in the technology field," said Packeteer President and CEO Craig Elliott. "We look forward to his direct participation in the growth of Packeteer."

Krause has been President of LWK Ventures, a private investment company, since November 1998. From October 1991 to November 1998, he served as President and CEO of Storm Technology, Inc. He served as President and CEO of 3Com Corporation, a global data networking company, from 1981 to 1990, and as its Chairman from 1987 to 1993 when he retired. He is also a director of Exodus Communications, Inc., Pinnacle Systems, Inc, and Sybase, Inc.

"Packeteer's application performance infrastructure enables customers to better align their existing network resources with the requirements of their business applications and allows them to focus on productivity rather than raw connectivity. This seems to be what enterprise CIOs and service providers need and want," said Krause. I look forward to assisting Packeteer in its growth."

Bob Packer, a company co-founder, and Peter Morris, a general partner at New Enterprise Associates and the lead investor in Packeteer's Series B round, will retire from the board at this time. Packer has served as director since the company's inception in January 1996; Morris has served since September the same year. Packer will continue to serve as the chairman of Packeteer's technical advisory board.

"We wish to express our appreciation for the years of service that both Peter and Bob have given," said Elliott. "The value of their contributions to the growth we've seen over the past five years cannot be overstated."

About Packeteer

Packeteer (Nasdaq:PKTR) is a leading provider of application performance infrastructure systems that give enterprises and service providers a new layer of control for applications delivered across intranets, extranets and the Internet. Packeteer's products -- powered by PacketWise(TM) software -- ensure end-to-end quality of service (QoS) for networked applications and managed services, enhancing users' quality of experience through comprehensive bandwidth, traffic, content, service-level and policy management. Packeteer's products are deployed by Global 2000 corporations and service providers, and sold through more than 100 resellers, distributors and system integrators in more than 50 countries. For more information, contact Packeteer via telephone at 1 408 873 4400, fax 1 408 873 4410, send email to info@packeteer.com, or visit the company's web site at www.packeteer.com. Packeteer is headquartered in Cupertino, Calif.

Safe Harbor Act Clause

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding Packeteer's expectations, beliefs, intentions, or strategies regarding the future. Forward-looking statements include express or implied statements regarding future revenues. All forward-looking statements included in this press release are based upon information available to Packeteer as of the date hereof, and Packeteer assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. See the risk factors described in the Company's form 10K filed with the SEC on March 23, 2000 and its Form 10-Qs and other reports filed from time to time with the Securities and Exchange Commission. Packeteer assumes no obligation to update the forward-looking information contained in this press release.

Note to Editors: Packeteer and PacketShaper are registered trademarks and Packet Wise, AppVantage and AppCelera are trademarks of Packeteer, Inc.

All other products and services are the trademarks of their respective owners.