LUCENT VENTURE PARTNERS LAUNCHES SECOND VENTURE CAPITAL FUND FOR $150 MILLION

MURRAY HILL, NJ - Lucent Technologies (NYSE: LU) today announced that its wholly owned subsidiary, Lucent Venture Partners (LVP), has started its second venture capital fund, with $150 million committed to LVP II's portfolio investments.

Following the same strategy as its first $100 million fund launched in 1998, LVP II will focus on early-stage companies in high-growth communications markets such as optical, data and wireless networking, communications semiconductors and software, professional services and business-to-business e-commerce.

"One of LVP's goals is to identify and support technologies and market approaches that are strategic to Lucent," said John Hanley, LVP president and managing partner. "Such technologies may complement Lucent's own research and development efforts at Bell Labs, fill a particular gap in our product line or provide us with quick entry into new and emerging markets. We often enhance our relationships with start-up companies by giving them access to technology development or marketing alliances with Lucent."

LVP will continue partnering with others in the venture capital community when choosing its investments. "A central part of our strategy is to seek co-investment opportunities with the VC community," said Hanley. "This strategy served us well with LVP I, and led to a strong portfolio of 22 start-up companies." For a full listing of the LVP portfolio companies, visit LVP's Web site at http://www.luvp.com.

Lucent Venture Partners, LLC. was formed in February 1998, by Lucent Technologies as a wholly owned subsidiary. This independent venture capital organization has offices in Murray Hill, N.J. and Palo Alto, Calif. Lucent

Technologies, headquartered in Murray Hill, N.J., designs, builds and delivers a wide range of public and private networks, communications systems and software, data networking systems and microelectronics components. Bell Laboratories is the research and development arm of the company. For more information about the company, visit its Web site at http://www.lucent.com.