JDS Uniphase (JDSU)

[learningthehardway]

See message from JDSU investor relations below. Any way to tell if Nortel purchases have met the requirements? Could mean large end-of-year order from Nortel.

As you know, in fiscal 2001, the Company completed the sale of its Zurich, Switzerland subsidiary to Nortel, one of the Company’s significant customers, for 66 million shares of Nortel common stock valued at $1,953 million. In addition, we may receive up to an additional $500 million in Nortel common stock to the extent Nortel purchases do not meet certain levels under new and existing programs through December 31, 2003, which is the second quarter of our 2004 fiscal year. We will report on the status of this agreement when we report on the quarter in our press release and conference call and/or in our Form 10-Q.