Telcordia Names Mark Greenquist New President and CEO

Business Wire, April 30, 2007

Dan Carroll to Remain on Board of Directors

PISCATAWAY, N.J. -- Telcordia Technologies (www.telcordia.com), a leading provider of telecommunications software services, today announced that, effective May 2, 2007, Mark Greenquist will succeed Daniel J. Carroll as President and Chief Executive Officer (CEO), who will retain his position on the Telcordia Board of Directors. Greenquist who previously served as both Chief Operating Officer (COO) and Chief Financial Officer (CFO) of Telcordia will also remain a member of the Board.

Brought in to lead the company in 2005 following its transition to an independent company, Carroll significantly grew Telcordia's international reach, streamlined its business operations and strengthened its relationship with leading carriers worldwide. With the transition complete Greenquist was instrumental in putting in place the company's strategic business plan, which emphasizes delivering business critical solutions to the communications market and positions Telcordia to help carriers evolve their networks and enable advanced services to grow their business.

"The communications industry remains in constant flux, with new competitors, new technologies and new demands from operators and subscribers for leading-edge voice and data services," said Greenquist. "I am committed to maintaining our enviable market leading position and to helping operators thrive and prosper in this dynamic industry through the flawless execution of our market leading products and services worldwide."

"Under Dan's leadership, Telcordia streamlined its business, cemented its relationships with key customers and successfully transitioned to an independent company," said Dan Stanzione, member, Telcordia Board of Directors. "The company is now well poised to continue to progress under Mark's leadership thanks to his extensive experience in financial and strategic planning and his focus on superior execution to drive significant business results."

Greenquist has more than 20 years of global business expertise. He was named COO of Telcordia after serving as CFO since 2005. Previously, he served as CFO at both Symbol Technologies, a global leader in enterprise mobility solutions, Agere Systems, a global leader in semiconductors and software solutions for storage, mobility and networking markets, and General Motors in several international leadership positions throughout Europe and the United States. Greenquist holds a Bachelors degree in Economics from Dartmouth College in New Hampshire, and an MBA from Columbia Business School in New York.

Carroll was named CEO of Telcordia in 2005 after serving as Chief Operating Officer of the Business Communications Services Division at Lucent Technologies, where he was responsible for a $7 billion global business that provided telecommunications systems to large and small business enterprises. Carroll, a professional engineer, spent 35 years with AT&T, Western Electric and the Lucent family of companies.

About Telcordia

Telcordia Technologies, Inc. is a leading global provider of telecommunications network software and services for IP, wireline, wireless, and cable. As the industry continuously evolves, Telcordia has the experience and reach to deliver the critical elements of success to help communication providers worldwide deploy innovative and profitable new services via any network or device while helping carriers aggressively reduce costs and grow revenues. Telcordia is headquartered in Piscataway, N.J., with offices throughout North America, Europe, Asia, Central and Latin America. (www.telcordia.com)

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