Agilent Technologies Makes Investment in OEwaves

10/21/2003 - Agilent Technologies Inc. (NYSE: A) announced that Agilent Ventures has participated in the Series C Preferred Stock funding round for OEwaves Inc., a manufacturer of ultra-low phase noise, high-frequency signal sources and related components.

Agilent joins investors TL Ventures, EnterTech Capital, ITU Ventures and Finaventures, raising $6 million in equity. OEwaves was founded in 2000 and has licensed exclusive rights to more than 20 patents and applications for the company's core technologies from the California Institute of Technology, which operates the Jet Propulsion Laboratory. OEwaves offers ultra-low phase noise, high-frequency signal sources up to 40 GHz for test and radar equipment, as well as other defense and commercial communication applications where unprecedented performance is a requirement.

"Agilent's investment in OEwaves represents our ongoing interest in early-stage companies that could deliver breakthrough technologies in our markets," said Maximilian Schroeck, managing director of Agilent Ventures. "We are excited to partner with OEwaves as it continues to leverage its technology in both defense and commercial applications."

"We are delighted to have Agilent join OEwaves as a strategic partner and investor," said Julie Schoenfeld, president and CEO of OEwaves Inc. "Agilent is clearly an industry leader with a strong track record of commercializing ground-breaking technologies, and we welcome their expertise and experience at this significant stage in OEwaves' product life cycle. We believe that the technological synergies we share will benefit both companies."

About OEwaves, Inc.
OEwaves, Inc. is a manufacturer of ultra-low phase noise, high frequency signal sources and related components. The company's first product line of Opto-Electronic Oscillators (OEO), TIDALwave(tm), introduces advanced performance and features not currently available with existing technologies. Additional products include MINIwave(tm), a miniaturized OEO, available for shipment by the end of 2003, and TUNEwave(tm), a tunable OEO, currently in demonstration with select customers. OEwaves was founded in 2000 and has licensed the exclusive rights to over 20 patents and applications for the company's core technologies from the California Institute of Technology (Caltech), which operates the Jet Propulsion Laboratory (JPL) for NASA. Visit www.oewaves.com for more information.

About Agilent Ventures
Agilent Ventures is a business unit of Agilent Technologies Inc. dedicated to investing globally in groundbreaking, privately held, early-stage technology companies. Additional information about Agilent Ventures, as well as investment proposal forms, is available at www.agilentventures.com.

About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics, life sciences and chemical analysis. The company's 30,000 employees serve customers in more than 110 countries. Agilent had net revenue of $6 billion in fiscal year 2002. Information about Agilent is available on the Web at www.agilent.com.

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