European competition authorities approve the manufacturing transition of Tellabs International's products to Elcoteq

22 December 2003 Espoo, Finland Lightwave-- National competition authorities in Europe have approved a plan under which Tellabs will transfer ownership of its Espoo manufacturing operations to Elcoteq, effective January 1, 2004.

"This necessary step takes Tellabs further along the path to profitable growth," said Anders Gustafsson, president, Tellabs International. "Tellabs will continue focusing on the core competencies of customer relationships and product development. We will carry on working directly with our customers to provide the high quality service they have to come to know us for."

Tellabs provides data switching and bandwidth management solutions to carriers around the world. More than two-thirds of telephone calls and Internet sessions in several countries, including the United States, flow through Tellabs equipment, according to the company. Tellabs customers include many of the largest and strongest carriers, and the company's equipment is deployed in more than 100 countries worldwide.