April 06, 2005

TRAPEZE NETWORKS RAISES ANOTHER UP-ROUND OF FUNDING

Nortel is New Investor in Third Round

PLEASANTON, Calif. — April 6, 2005 —Trapeze Networks™, maker of award-winning wireless local area networking (WLAN) systems, today announced that it raised $17.5 million in third-round Series C funding, bringing the total investment in the company to $67.5 million.

Venture capital firm Duff Ackerman & Goodrich led the Series C round with $4 million. Trapeze received additional Series C funding from a recently announced alliance with Nortel and its original team of first- and second-round investors, including venture capitalists Accel Partners, Redpoint Ventures, Oak Investment Partners and Castile Ventures, investment bankers and financial services firms Trautman Wasserman & Co. and C.E. Unterberg Towbin.

In April 2002, the original investors — Accel Partners and Redpoint Ventures and a group of Trapeze employees — contributed $16 million in Series A funding. In June 2003, Trapeze raised $34 million in Series B funding, raising one of the largest rounds of private venture funding that year.

"Our Series C funding will go toward hiring more engineering and sales staff to meet the needs of our new OEM partners and rapid growth in the WLAN market," said Jim Vogt, president and CEO of Trapeze Networks. "We believe the addition of Nortel to the investment round is a testament to its commitment to Trapeze and the future of our joint development projects."

About Trapeze Networks
Trapeze Networks delivers the power of business applications and services to the mobile enterprise workforce. The company's wireless LAN Mobility System enhances productivity, introduces new efficiencies and accelerates business response time by delivering secure mobility for roaming users and sophisticated services for both users and IT, all while offering the lowest total cost of ownership of any WLAN infrastructure provider. Trapeze announced a partnership with 3Com Corporation (NASDAQ: COMS) in August, 2004 and a partnership with both D-Link and Nortel (NYSE/TSX: NT) in March 2005. Trapeze has also been the recipient of eight industry awards, including InfoWorld's Technology of the Year award for the best WLAN Solution in 2004, in recognition of its product and technology strength. Founded in March 2002, Trapeze raised $50 million in venture funding to date and is headquartered in Pleasanton, Calif., U.S.A. For more information, please visit www.trapezenetworks.com.

Need more information about Trapeze Smart Mobile™ wireless solutions? Call us today and talk to a Trapeze representative: 877.359.8779