Sycamore Networks, Inc. Announces Stockholder Approval of Sale of Intelligent Bandwidth Management Business and Liquidation and

  Sycamore Networks, Inc. Announces Stockholder Approval of Sale of
  Intelligent Bandwidth Management Business and Liquidation and Dissolution of
  the Company

     Company Completes Sale of Intelligent Bandwidth Management Business

Business Wire

CHELMSFORD, Mass. -- February 1, 2013

Sycamore Networks, Inc. (“Sycamore” or the “Company”) (NASDAQ: SCMR), today
announced that at a Special Meeting of Stockholders held on January 29, 2013
(the “Special Meeting”), its stockholders authorized the previously announced
sale of substantially all of its assets related to Sycamore’s Intelligent
Bandwidth Management Business to a portfolio company of Marlin Equity Partners
(“Buyer”) pursuant to and on the terms set forth in the Asset Purchase and
Sale Agreement dated October 23, 2012 by and between Sycamore and Buyer. At
the Special Meeting, the stockholders also approved the dissolution of the
Company following the asset sale and adopted a plan of complete liquidation
and dissolution.

On January 31, 2013, the Company completed the sale of its Intelligent
Bandwidth Management Business, which includes the Company’s optical networking
and multiservice access products and related services and rights to the
“Sycamore” name, to Buyer in exchange for a total purchase price of $18.75
million in cash (subject to a working capital adjustment) and the assumption
by Buyer of certain related liabilities. The Company will continue to use the
name Sycamore Networks, Inc. as its corporate name in connection with, and
until the completion of, the liquidation and dissolution of the Company. In
addition, the Company has established a new corporate website,
www.scmrinc.com, which will continue to provide access to Sycamore’s public
company filings and other corporate information. Information about the
products and services of the Intelligent Bandwidth Management Business will
continue to be available at www.sycamorenet.com.

The Board has not to date made a determination to proceed to file a
certificate of dissolution. Further information regarding the liquidation and
dissolution of the Company and the amount and timing of distributions to
stockholders will be provided in subsequent press releases or filings with the
Securities and Exchange Commission as such information becomes available.

About Sycamore Networks, Inc.

Sycamore Networks, Inc. (NASDAQ: SCMR) is based in Chelmsford, Massachusetts.
For more information, please visit www.scmrinc.com.

Safe Harbor for Forward-Looking Statements

We wish to caution you that certain matters discussed in this press release
may constitute “forward-looking statements,” as defined under the federal
securities laws. Risks and uncertainties relating to the Company could cause
actual events and results to differ materially from those stated or implied in
such statements. Potential risks and uncertainties include, among others, the
Company’s Board of Directors may determine to abandon or delay implementation
of the plan of complete liquidation and dissolution of the Company; the
Company’s inability to predict the timing or amount of any additional cash
distributions to stockholders; in the event that the Company proceeds with the
plan of complete liquidation and dissolution, the Company’s stockholders could
be liable to the Company’s creditors in the event the Company fails to create
an adequate contingency reserve to satisfy claims against it; and the
Company’s continuing costs associated with complying with public company
reporting requirements. More information about potential factors that could
affect the Company’s dissolution and the amount of any future distributions is
included in the section entitled “Risk Factors” in the Company’s filings with
the Securities and Exchange Commission. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future results or otherwise.

Contact:

Sycamore Networks, Inc.
Alan Cormier, 978-250-2921
General Counsel and Secretary
alan.cormier@sycamorenet.com