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EXHIBIT 99.1
PRESS RELEASE DATED SEPTEMBER 29, 2000
DIGITAL LIGHTWAVE ANNOUNCES RESULTS OF ANNUAL MEETING
CLEARWATER, Fla.--(BUSINESS WIRE)--Sept. 29, 2000--Digital Lightwave(R), Inc.
(Nasdaq:DIGL - news), a leading provider of optical networking products and
technology, today announced the results of the voting at its annual
stockholders' meeting held earlier in the day.
Five directors were elected to the company's board of directors. Four of the
elected directors were nominated by the company's nominating committee: Gerry
Chastelet, Dr. William Hamilton, Robert F. Hussey, and Peter Guglielmi.
Additionally, the company's majority stockholder, Dr. Bryan J. Zwan, nominated
Gerald A. Fallon, who also was elected to the company's board. Mr. Fallon is
executive vice president and manager of Capital Markets for KeyBank, NA and
senior managing director of Capital Markets for McDonald Investments Inc.
The company also announced that its proposed Amended and Restated 1996 Stock
Option Plan was not approved by stockholders.
About Digital Lightwave, Inc.
Digital Lightwave serves the growing fiber-optic networking
industry--high-speed telecommunications networks based on fiber-optic
technology--with products and technology that monitor, maintain and facilitate
the management of voice, data and multimedia communications networks. Digital
Lightwave customers include leading telecommunications service providers and
equipment manufacturers. The company is headquartered in Clearwater, Florida,
and can be located on the Internet at http://www.lightwave.com Except for the
historical statements made herein, this release contains certain
forward-looking statements that may involve a number of risks and
uncertainties. Factors that could cause actual results or events to differ
materially from these forward-looking statements include: quarterly
fluctuations in the company's operating results; control by a majority
shareholder; dependence on a limited number of products; rapid technological
changes; the company's ability to compete effectively with other companies; the
company's dependence on major customers; the company's dependence on contract
manufacturing and limited source suppliers; delays in product development and
delivery schedules; the company's ability to expand its production and assembly
operations; the company's ability to manage its growth; the company's ability
to enter into strategic relationships; the company's dependence on key
personnel; the company's dependence on proprietary technology; the inherent
risk of litigation; the company's success in defending significant litigation;
liquidity risk and future capital needs; general business conditions; and other
factors described in the company's filings with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof. The company
assumes no obligation to update information contained in this release.
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Contact:
Digital Lightwave
Bill Rooney, 727/442-6677
