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Clarent Buys ACT Networks in $142-Million Stock Trade

August 15, 2000

ACT Networks of Calabasas has been acquired by Clarent Corp. in a stock for stock transaction valued at about $142 million. Clarent will issue 4,430,356 shares of Clarent stock to ACT Networks stockholders in exchange for all outstanding ACT Networks common stock and $26 million in ACT Networks stock options.

ACT Networks develops packet voice technologies and multi-service network access systems.

Clarent Corp. of Redwood City provides carrier grade, phone-to-phone Internet protocol telephony solutions to telecommunications service providers worldwide including AT&T and China Telecom.

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