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CIENA FILES UNIVERSAL SHELF REGISTRATION FOR UP TO $1.5 BILLION OF DEBT AND EQUITY SECURITIES

Ciena Corporation (CIEN), a leading provider of intelligent optical networking systems, today announced that is has filed a universal shelf registration statement with the Securities and Exchange Commission relating to the possible issuance of up to $1.5 billion in securities.

The filing allows the Company flexibility as to the type of security it could choose to sell, including common stock, preferred stock, and varying forms of debt securities, including convertible debentures, and will enable the Company to react quickly to market opportunities as they arise.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful under the securities laws of any such state or jurisdiction.

The actual amount of any securities to be issued, and the terms of those securities, will be determined at the time of sale, if such sale occurs. The Company intends that the proceeds from the issuance of any such securities would be used to provide funds for Ciena's operations and for other general corporate purposes, including the possible repayment of indebtedness, working capital, capital expenditures and potential acquisitions.