MANUFACTURING

SANTA CLARA, CA -- Extreme Networks, Inc., (Nasdaq: EXTR), a leader in Ethernet networking, today reported its second quarter results for the period ending Dec. 31, 2001. Net revenue for the second quarter of fiscal 2002 was $109.1 million, compared to $108.3 million for the first quarter of fiscal 2002. On a pro forma basis Extreme Networks earned net income of $2.0 million, or $0.02 per share for the second quarter of fiscal 2002, compared with breakeven performance for the first quarter of fiscal 2002. Actual net loss for the second quarter, which includes expenses for amortization of goodwill and intangible assets and deferred compensation, was $10.7 million or $(0.09) per share, compared to a loss of $36.0 million or ($0.32) per share for the first quarter of fiscal 2002. "The compelling value proposition we bring to the networking market, along with our ability to carefully manage our business, has enabled us to continuously perform well and achieve operating profitability even during difficult business conditions," said Gordon Stitt, president and CEO of Extreme Networks. "More and more, we are seeing our two key markets, the large enterprise and the Ethernet Metro converge. As a result, customers in both segments are seeking technology solutions to create a unified global network architecture. With our strong presence in the large enterprise market, our unmatched experience, and industry-leading Ethernet solution set, we are uniquely positioned to capitalize on this convergence." For more information visit www.extremenetworks.com