Optical Capital Group Appoints J. Carter Beese, Jr., to Advisory Board

Business Wire, June 19, 2002

Business Editors

COLUMBIA, Md.--(BUSINESS WIRE)--June 19, 2002

Venture capital firm Optical Capital Group (OCG) announced today that J. Carter Beese, Jr., President of Riggs Capital Partners and former SEC Commissioner, has joined its Advisory Board.

As an Advisory Board member, Mr. Beese will provide guidance and strategic advice to the specialized investment firm, which is focused on investing in data, cable and telephony communications infrastructure companies.

"We're very pleased by Carter Beese's decision to join OCG's Advisory Board," said OCG General Partner John Spirtos. "His financial acumen and extensive network will be significant assets to OCG as we continue to develop technology companies for the purpose of delivering the communications networks of the future."

Mr. Beese joins the following individuals on OCG's Advisory Board: Frank Bonsal, founding partner of New Enterprise Associates; Milton Chang, Ph.D., founder of iNCUBIC and New Focus; Peter Hankin, founder of Ryan Hankin Kent and the Infrastructure Fund; Hemant Kanakia, Ph.D., founder of Torrent Networking, Gemplex, and Photuris; and George P. Stamas, Partner with Kirkland & Ellis and a Venture Partner of New Enterprise Associates.

"With its unique resource base, OCG has an in-depth understanding of the communications industry that sets it apart," said Mr. Beese. "I look forward to the opportunity to share my 20 plus years of experience in the capital markets and government sector with the OCG portfolio companies."

Mr. Beese is President of Riggs Capital Partners, the venture capital affiliate of Riggs National Corporation, based in Washington, DC. Prior to joining Riggs, he was Chairman of Alex. Brown International, until it merged with Bankers Trust. Following the merger he served as Vice Chairman of Bankers Trust Alex. Brown's Global Banking Group.

In the early 1990s, Mr. Beese was a Commissioner of the U.S. Securities and Exchange Commission, where he worked on such issues as cross-border capital flows, the derivatives market, and corporate governance.

He is a senior advisor to the Washington, DC-based Center for Strategic and International Studies, and serves on the boards of Aether Systems, Chinadotcom, Riggs National Corporation, and several private companies.

He also serves on the Advisory Boards and/or the Valuation Committees of Boulder Ventures, Edison Venture Funds, Grotech Capital Group, Mid-Atlantic Venture Funds, Novak-Biddle Venture Partners and Questmark Partners.

About OCG

Optical Capital Group (www.opticalcapitalgroup.com) is a venture capital firm focused on investing in data, cable and telephony communications infrastructure companies. Formed in March 2000, OCG has made investments in companies with the potential to establish leadership positions in major segments of the global market for communications equipment.