IPOs/recent issues: Sonus Networks –

Westford, Mass.

Went Public 5/25/2000 at $23 apiece.

Filing Range: 5 mil. shares @ $19 to $21

Shares Outstanding: 60.42 mil. shares

Underwriters: Goldman, Sachs & Co.

Lehman Brothers/JP Morgan & Co. Inc./

FleetBoston Corp.

Company Counsel: Bingham Dana & Gould

Manager Counsel: Ropes & Gray

Auditor: Arthur Andersen & Co.

The Company:

Develops carrier-class voice communications equipment. Its equipment facilitates the movement of telephony from traditional circuit networks to packet networks, enabling a host of new carrier and end user services.

Venture Backers:

Charles River Ventures

Matrix Partners

North Bridge Venture Partners

Global Crossing Ventures

Williams Communications Group

Mitsubishi International Corp.

Nissho Electronics

Bedrock Capital Partners

Chase Capital Partners

Castile Ventures

Bessemer Venture Partners

Financing Rounds

Number of Round Amt.

Round # Round Date Stage Investors ($ thousands)

1 11/25/1997 4 Early Stage $7325.0

2 09/23/1998 3 Early Stage 14000.0

3 09/22/1999 11 Expansion 25426.8

4 01/03/2000 1 Expansion 2000.0

FINANCIALS

(Data in $ millions)

3 MOS.

03/31/00

Total Revenues: $1.1

Net Loss: -35.9

-S