Avanex and 3S Photonics Reach Settlement

2008-07-15 08:00:00

FREMONT, Calif.–(EMWNews)–Avanex Corporation (NASDAQ:AVNX), a pioneering provider of intelligent

photonics solutions enabling next-generation optical networks, and 3S

Photonics today announced resolution of their contractual disputes.

While neither side admits liability, the two parties have agreed to a

settlement that includes payables, receivables and lost profit under the

parties terminated global distributorship

agreement, and a release by both parties of all claims asserted against

each other, including the dismissal of legal actions taken in New York,

California, and the Commercial Court of Evry, France. With this

resolution there will be no further litigation between Avanex and 3S

Photonics.

Avanex is pleased to have reached this

agreement with 3S Photonics to put this matter behind us,

said Dr. Giovanni Barbarossa, Avanexs Interim

CEO. We look forward to working with 3S

Photonics again in the future.

3S Photonics is satisfied to have reached

this settlement. We plan new business opportunities and are looking

forward to starting a new collaboration with Avanex,

said Alexandre Krivine, chairman and CEO of 3S Photonics.

About Avanex

Avanex Corporation meets the needs of fiber optic communications

networks for greater capacity, longer distance transmissions, improved

connectivity, higher speeds and lower costs. Our solutions enable

optical wavelength multiplexing, dispersion compensation, switching and

routing, transmission, and amplification, and include network-managed

subsystems. Avanex Corporation, incorporated in 1997, is headquartered

in Fremont, California, and maintains facilities in New York, Florida,

China, France, Italy, and Thailand. To learn more about Avanex

Corporation, visit our Web site at: www.avanex.com.

Avanex Corporation
Brooke Deterline, 510-897-4188 (Investor

Relations)
IR@Avanex.com

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