LUXCORE NAMES HARVEY A. WAGNER CHIEF FINANCIAL OFFICER

Industry Veteran Brings 35-Years of Experience to Position

ATLANTA, GA, June 5, 2001 - Gerald P. Ramdeen, chairman and chief executive officer of Luxcore Networks, Inc., today announced the appointment of Harvey A. Wagner as executive vice president and chief financial officer of Luxcore Networks.

Mr. Wagner, a 35-year veteran of the computer, semiconductor, software and telecommunications industries, will be responsible for finance, administration and business operations.

"We are extremely pleased to have Mr. Wagner join our team," said Mr. Ramdeen. "He has an excellent track record building strong technology companies and valuable relationships, and leading numerous high profile strategic funding initiatives, including acquisitions and initial public offerings. Mr. Wagner's depth of experience in financial strategy and execution, accounting and finance for technology companies, and investor and analyst relations will be instrumental in the growth and success of Luxcore."

"I am excited about being a part of the talented team at Luxcore, and achieving the goal to deliver the world's first all-optical switching and integrated transport products for metro/regional and long-haul networks," said Mr. Wagner.

Mr. Wagner joins Luxcore Networks from PaySys International, Inc., where he had served as executive vice president, finance, CFO and secretary since 1999. Prior to joining PaySys, Mr. Wagner was executive vice president, finance and administration, and CFO of Premiere Technologies, Inc., from 1998 to 1999. Before joining Premiere Technologies, Mr. Wagner was with Scientific Atlanta, Inc., where he served as senior vice president of finance, CFO, and treasurer, from 1994 to 1998. Mr. Wagner also served as executive vice president and chief financial officer of Computervision Corporation and spent 18 years in Silicon Valley with Fairchild Corporation and GTE Corp.

Mr. Wagner holds a BBA in accounting from the University of Miami, and is a member of Financial Executives International, the Institute of Management Accountants, and the National Association of Corporate Directors. He is on the board of directors of UNICCO Service Company, sits on the President's Council at the University of Miami and on the Executive Advisory Board of the Wharton School of Business, and is a founding board member of The Wellness Community-Atlanta. Mr. Wagner also serves on the boards of directors of several private companies.

About Luxcore Networks
Luxcore Networks is a world leader in all-optical wavelength conversion, regeneration, and integrated transport. The company engineers, manufacturers and markets third-generation, all-optical internetworking systems based on advanced photonic technologies and innovative IP routing and software management systems. Founded in June of 1999, Luxcore Networks is based in Atlanta, Georgia, and is led by a team of seasoned optical physicists, engineers and software developers.

Contact:
Ashley J. Bell
Director of Communications
770.274.2708
abell@luxcore.com