Riverstone Networks Lists on Nasdaq 17th Spinoff Of An NYSE Company To Nasdaq Since January, 2000

The Nasdaq Stock Market, Inc., today announced that Santa Clara, California-based Riverstone Networks, a leader in service creation infrastructure for the metropolitan area networks, commenced trading under the symbol Nasdaq:RSTN. The company offered 10,000,000 shares at $12, valued at $120 million. Riverstone is the first of a series of spinoffs expected to be undertaken by its parent company, Cabletron Systems (NYSE:CS) of Rochester, New Hampshire. Morgan Stanley Dean Witter is the lead manager.

Hardwick Simmons, Chief Executive Officer of The Nasdaq Stock Market hosted the IPO ceremony at the Nasdaq MarketSiteSM at Times Square in New York City. After Riverstone Networks President and CEO Romulus Pereira officially opened the Nasdaq market to commemorate the company’s listing, Simmons presented him with a Nasdaq® Crystal Tower.

"We are proud that Riverstone Networks, with its dedication to leading-edge innovation, quality, and service has chosen to list on Nasdaq," says Simmons. "Riverstone Networks is the seventeenth spinoff of a New York Stock Exchange (NYSE) listed parent company that has chosen to list on The Nasdaq Stock Market in the past year. They will be joining nearly 4,700 companies from around the world that are leading the development of the global economy."

Nasdaq has captured 17 of the 37 spinoffs of NYSE companies since January 1, 2000. Among the others are Travelocity.com (Nasdaq:TVLY) spun off from Sabre Holdings Corp. (NYSE:TSG), Global Sources, Ltd. (Nasdaq:GSOL) spun off from Great Lakes Chemical (NYSE:GLK) and Gentiva Health Services (Nasdaq:GTIV) spun off from the acquired Olsten Corporation (NYSE:OLS).

Riverstone Networks is a leading developer of routers and switches that enable metropolitan service providers, Internet service providers, and content and application providers to turn raw bandwidth into profitable services. Leveraging third-generation custom silicon and Internet-hardened routing software, Riverstone Networks products deliver line-rate accountability and control, enabling the metro network to become the New Business Internet. Riverstone solutions are deployed in more than 40 countries and in some of the world's largest networks-including British Telecom, Genuity, MCI WorldCom, MAE West Ames, EarthLink, and Telefonica. Riverstone Network's financial backers include Silver Lake Partners and its former parent, Cabletron Systems, Inc. For more information visit, their website at www.riverstonenet.com.

The Nasdaq Stock Market lists nearly 4,700 companies, trades more shares per day and has more non-U.S. listings than any other American market, and has a larger average daily dollar volume than any market in the world. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.