Fiberspace Signs Former Alcatel Network Systems Executive Dr. Neven Karlovac as Chief Operating Officer

Business Wire, May 28, 2002

Business Editors/High-Tech Writers

WOODLAND HILLS, Calif.--(BUSINESS WIRE)--May 28, 2002

-- Industry Veteran to Guide Stabilized Laser Products Company

in Next Phase of Growth --

To aid the expansion into its next growth phase, Fiberspace, Inc., a developer of highly accurate, ultra-stable tunable laser products, has appointed former Alcatel Network Systems President and COO Neven Karlovac as chief operating officer. Dr. Karlovac, who has more than 23 years of experience in fiber optics and telecommunications, will oversee engineering, manufacturing, operations, sales, and marketing at Fiberspace. Dr. Karlovac's extensive management history includes serving as president and COO of Alcatel Network Systems, where he introduced the industry's first SONET products.

"Neven is a great asset to the Fiberspace team, with his cross-functional management experience ranging from start-up companies to the subsidiary of a Global 500 corporation," said Dr. Leonardo Berezovsky, CEO and co-founder of Fiberspace. "We look forward to his contribution in expanding our leadership in the telecommunications marketplace."

Dr. Karlovac was a member of Fiberspace's Technical Advisory Board before joining the company as COO. His previous experience includes serving as CEO of Accuwave, which introduced the industry's first Wavelength Locker, as senior vice president of the fiber optics division of Telco Systems, Inc., and as director of product development of Rockwell International's Lightwave Division.

Dr. Karlovac started his career as a scientist and engineer, and has managed complex hardware and software product developments ranging from optical components to large telecom systems. He has demonstrated success in product management from specification to rollout, and he has managed all aspects of engineering and manufacturing operations from 25 to 3,000 people, achieving substantial cost, productivity and quality improvements.

Dr. Karlovac earned his Ph.D. in electrical engineering from University of Tennessee, Knoxville, and he holds a BSEE and an MSEE from the University of Zagreb in Croatia.

About Fiberspace

Fiberspace, Inc., creates and builds stabilized laser products based on its patented laser technology. The company is developing a suite of products that provide absolute accuracy, tunability, and long-term wavelength stability for dense wavelength division multiplexing (DWDM) applications in metro and long-haul systems.

Fiberspace investors include J.P. Morgan Chase Capital and Morgenthaler Ventures. Fiberspace is headquartered in Woodland Hills, Calif. For more information, visit http://www.fiberspace.net or call 818/251-1300.