Ad hoc: ADVA OPTICAL NETWORKING ANNOUNCES STABLE REVENUES AND 10.2% PRO FORMA EBIT IN FIRST QUARTER 2003

Martinsried/Munich, Germany; Mahwah/New Jersey, USA. May 6, 2003. ADVA Optical Networking (FSE: ADV), a leading global provider of optical networking solutions, today announced first quarter 2003 reviewed financial results for the period ended March 31, 2003, and prepared in accordance with U.S. General Accepted Accounting Principles (U.S. GAAP).

FIRST QUARTER 2003 FINANCIAL RESULTS
Revenues in the first quarter 2003 totalled EUR 21.3 million compared to revenues of EUR 21.6 million in the first quarter 2002. Pro forma operating income increased to EUR 2.2 million in the first quarter 2003, a significant improvement over EUR 0.1 million in the first quarter 2002. Pro forma net income from continuing operations increased to EUR 1.8 million in the first quarter 2003, compared to a pro forma net loss from continuing operations of EUR 0.1 million in the first quarter 2002.

ADVA posted actual net income of EUR 0.6 million in the first quarter 2003, compared to an actual net loss of EUR 1.5 million in the first quarter 2002. Actual basic and diluted net earnings per share totalled EUR 0.02 in the first quarter 2003 and EUR -0.04 in the first quarter 2002. ADVA has included charges for stock option compensation in its actual financial results since the company first issued options in 1999.

CONFERENCE CALL AND WEBCAST
ADVA will host a conference call for investors at 3:00 p.m. CET / 9:00 a.m. EST today, May 6, 2003. 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 con calls and presentations page in the investor relations section of ADVA's website at www.advaoptical.com. The call will be archived as an audio file and the conference call presentation will also be available in the investor relations section of ADVA's website.

ADVA's three-month 2003 report can be found on its website.

SECOND QUARTER 2003 EARNINGS RELEASE DATE
ADVA expects revenues and pro forma operating and net income for the second quarter 2003 to be in line with the previous quarter.

ADVA will announce financial results for the second quarter 2003 for the period ending June 30, 2003, on Thursday, July 31, 2003. In conjunction with the release of its second quarter 2003 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.

ANNUAL SHAREHOLDERS MEETING
ADVA will hold its annual shareholders meeting on Wednesday, June 11, 2003, in Meiningen, Germany.