Ad hoc: ADVA OPTICAL NETWORKING REPORTS PRO FORMA OPERATING INCOME

FIRST QUARTER 2002 FINANCIAL RESULTS
Revenues in the first quarter 2002 reached EUR 21.6 million, an increase of 19.6% over revenues in the first quarter 2001 of EUR 18.0 million. Pro forma operating loss improved from EUR 3.6 million in the first quarter 2001 to pro forma operating income of EUR 0.1 million in the first quarter 2002. Pro forma net loss from continuing operations improved from EUR 2.7 million in the first quarter 2001 to EUR 0.1 million in the first quarter 2002.

Actual net loss from continuing operations in the first quarter 2002 was EUR 1.4 million, compared to actual net income from continuing operations of EUR 14.7 million in the first quarter 2001. The decrease in actual net income was primarily the result of significantly higher positive non-cash charges related to the stock option programs during the first quarter 2001. ADVA posted an actual net loss of EUR 1.5 million in the first quarter 2002 and EUR 5.9 million in the first quarter 2001. The decrease in actual net loss was primarily a result of the higher loss in the first quarter 2001 from discontinued operations at the company's Cambridge site. Actual basic net loss per share totalled EUR 0.04 in the first quarter 2002, and actual basic net income per share totalled EUR 0.18 in the first quarter 2001.

CONFERENCE CALL AND WEBCAST
In conjunction with the release of its first quarter 2002 financial results, ADVA Optical Networking will host a conference call for investors at 3:00 p.m. CET / 9:00 a.m. EST today, May 7, 2002. Investors may listen live via Webcast on ADVA's website. Participating in the call will be ADVA's Chief Executive Officer, Brian L. Protiva, and Chief Financial Officer, Andreas G. Rutsch. To listen to the Webcast, interested investors are encouraged to log onto the broadcast at least 15 minutes prior to the call, located on the media archives page in the investor relations section of ADVA's website at http://www.advaoptical.com. The call will be archived as an audio file on the website. The conference call presentation will also be available on the media archives page in the investor relations section of the website.

ADVA Optical Networking's complete financial statements and quarterly report for the first three months of 2002 can be found on its website. The company's 2001 annual report is now available for downloading as a .pdf file on its website, and printed copies will be available in mid-May. To order a copy, please contact the investor relations department.

SECOND QUARTER 2002 OUTLOOK AND
EARNINGS RELEASE DATE
ADVA Optical Networking anticipates revenues in the second quarter 2002 of between EUR 20 to 25 million.

ADVA Optical Networking will announce financial results for the second quarter and first six months of 2002 for the period ending June 30, 2002, on Tuesday, August 6, 2002. In conjunction with the release of its second quarter 2002 financial results, ADVA will host a conference call for investors at 3:00 p.m. CET / 9:00 a.m. EST on the same day.