Sabeus Photonics, Inc. Receives Additional $2 Million Equipment Financing Facility From Silicon Valley Bank

LOS ANGELES - March 6, 2002 - Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, today announced it provided Sabeus Photonics, Inc. with a $2 million equipment financing facility.

Sabeus Photonics is the leader in the design and manufacture of high-concept optical devices for use throughout the optical communications network. The company will use the financing for the purchase of equipment and other fixed assets.

"We have developed key technologies that have the potential to change the economics of the optical components market," said Rob Faulk, Sabeus' chief financial officer. "Financial partners such as Silicon Valley Bank are critical to making our vision a reality and to our ultimate success."

"We are pleased to extend our relationship with Sabeus and continue to support them in their growth strategy," said Mark Breneman, senior relationship manager in the Bank's Los Angeles office. "The company possesses a breakthrough technology, is already shipping product, and has an excellent management team to exploit an exciting market opportunity."

About Sabeus Photonics, Inc.
Sabeus Photonics, Inc. is the technology leader in the design and manufacture of high-concept optical devices for use in communications and non-communications high-technology applications. High-concept devices use revolutionary technology to achieve complex results in a simple, elegant fashion. Sabeus' high-concept mode-coupling and cold writing technologies, based upon the company's unique understanding of the physics of light and materials, have enabled Sabeus to become, in a very short period of time, the pre-eminent manufacturer of several high-precision, cost-effective, in-fiber optical components used by Lucent, Marconi, and other major optical equipment vendors. These products represent the first in a variety of Sabeus high-concept devices that will continue to revolutionize the economics of the optical network.

Sabeus was founded in 1998 by a small team of internationally-recognized U.S. and European scientists, engineers and manufacturing technologists who co-developed the company's breakthrough products as well as its sophisticated manufacturing software. The latter gives Sabeus an unparalleled ability to custom-manufacture each component to a specific customer requirement on a computer-controlled, high-volume production line. The company has applied for or has received 15 patents.

Sabeus has a modern, 50,000 sq. ft. facility located in Chatsworth, CA that is both ISO 9001 and Telcordia 1221 certified. All manufacturing areas and laboratories are controlled, clean room environments.

Sabeus Investors include Redpoint Ventures, TL Ventures, Agere Systems, Credit Suisse First Boston, and Digital Coast Partners. Total investment to date is $24 million. The company has over 60 employees.

About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.

The Bank operates throughout the Silicon Valley: Fremont, Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; New York, New York; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington. More information on the Bank can be found at www.svb.com.

Contacts:

Mark Breneman, Los Angeles Regional Office, (310) 234-3555

Andrea McGhee, Corporate Communications, (408) 654-3078