Orckit-Corrigent strengthens position as leading provider of Packet Transport Network and TDM Migration Solutions in 2010

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Orckit-Corrigent strengthens position as leading provider of Packet Transport Network and TDM Migration Solutions in 2010

Tel-Aviv, Israel, 05 January, 2011

Serving More Than 20 Service Providers Worldwide, Orckit-Corrigent Invests in New Regional Markets and Positions Itself for Continued Growth

2010 was an important year for Israel-based Orckit Communications Ltd. (NasdaqGM: ORCT), a leading Packet Transport Network (PTN) vendor, as it secured a number of Tier-1 customers in emerging and developed markets around the world, highlighted by the company's growing global presence in India, Russia and Western Europe as well as new implementations of its innovative PTN portfolio, (based on MPLS and MPLS-TP technologies) for the delivery of any SDH, PDH and Ethernet services over packet-based networks.

While 2010 was a strong year for the Company, over the past two and a half years, Orckit has been selected by a diverse mix of more than 20 service providers from around the world, including fixed-line, mobile, and carrier-of-carrier service providers. The Company’s solutions enable enterprise VPN, mobile backhaul and residential services. Additionally, nearly half of the Company’s customer base has implemented Orckit's TDM Migration solution, designed to help service providers migrate existing TDM traffic and infrastructure to packet transport network.

“2010 has been a significant year of growth for Orckit-Corrigent, not only in terms of our ability to service our existing customers, but also in enhancing our solutions and expanding our world-wide presence and market reach,” said Mr. Sharon Mantin, VP Marketing and Products of Orckit-Corrigent. “We are proud of our accomplishments to date and look forward to continue developing and rolling out first-rate next generation applications to service providers in both developed and emerging markets.”

Overall, the global shift towards packet transport standards continued to gain momentum throughout 2010. Despite a sluggish economy, the packet transport market witnessed steady growth, a trend that can be contributed to the fact that greater numbers of carriers are upgrading from TDM networks to packet based networks, providing faster and more efficient service.

Moreover, operators are utilizing PTN with MPLS and MPLS-TP infrastructure to support many of their fast growing business enterprises, residential and mobile applications.

Orckit is currently investing in new regional markets and signed five new customers over the course of 2010. In November, the company began working with Indian Telecom provider Bharat Sanchar Nigam Limited (BSNL). Orckit's solutions are being deployed in India as part of a nationwide, next generation broadband, triple play network based on GPON and Carrier Ethernet aggregation technologies. Following an evaluation by the BSNL Quality Assurance (QA) organization, Orckit's CM-4000 portfolio received Technical Specification Evaluation Certificate (TSEC), and demonstrated the ability to meet the needs of a Tier-1 client.

Additionally, the company signed a number of other leading carriers including Tele2 Russia, German providers EnviaTEL and VSE Net, and a leading Scandinavian provider, further validating Orckit's TDM migration value proposition

The Company also partnered with Technoserv, Russia’s leading provider of products and technologies. In October, Technoserv selected Orckit's PTN switches to enhance its networking portfolio, allowing it to better meet the growing demand for telecommunication services in Russia and CIS. Orckit also signed an agreement with 3M Services of Germany, establishing 3M as Orckit's system integrator for its German customers.

Orckit also built the first ever 10G MPLS ring in Mexico for redIT (formerly MetroNet) which provides high-end connectivity solutions to the majority of telecommunications operators in the country. This proved to be a significant milestone for the Mexican telecommunications market, which has been traditionally limited to lower Ethernet service rates. The deployment introduced a carrier-grade solution with high availability and reliability, multilayer OAM and protection mechanisms.

In addition to their worldwide partnerships, Orckit made significant strides in developing innovative solutions and is now one of the few industry vendors that provide both MPLS and MPLS-TS on the same platform. Furthermore, they enhanced their mobile backhaul portfolio with the release of CM-11, a new multi-service access switch and cell site gateway.

Additional highlights from 2010 include:

Orckit raised $19M in two rounds of funding, with both rounds including funding from the founders of the Company
Established new international offices in the Philippines, India, Thailand and Germany, providing Orckit with on the ground presence in important emerging markets
Demonstrated interoperability at the MPLS & Ethernet World Congress and Carrier Ethernet World Congress (CEWC) and was one of the only vendors to provide both MPLS and MPLS-TP on the same platform

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