Press Releases
Juniper Networks Establishes Charitable Fund
Initial Contributions by Employees and the Company Exceeds $20 Million
Mountain View, CA - May 4, 2000 - Juniper Networks, Inc. (Nasdaq:JNPR) announced today that it has established a charitable fund to benefit causes such as education, community and social services, and emergency relief programs. Employees, including senior management, will make initial contributions of approximately $13 million, and the company will match this donation, with a maximum commitment of approximately $10 million of its common stock. The company will take a one-time charge of approximately $10 million or $0.04 per share in the second quarter.
"The company's vision is to build a long term sustainable franchise, which includes the responsibility of sharing our success with others," said Scott Kriens, president and CEO, Juniper Networks. "As an emerging leader in the Internet Economy, we will continue to enable the power of the Internet to bring change and opportunity to people and communities throughout the world."
Community Foundation Silicon Valley (CFSV) will service and administer the fund, with the help of a committee of Juniper Networks employees. The committee will identify the charitable goals, will make grants to qualified organizations, and will build an endowment to meet the future needs of the community.
About Juniper Networks, Inc.
Juniper Networks, Inc. is a leading provider of purpose-built systems that meet the scalability, performance, density, and compatibility requirements of rapidly evolving, optically enabled IP networks. The company's purpose-built systems provide new IP infrastructure solutions for the world's leading service providers. Juniper Networks service, manufacturing teams, and IP engineers work closely with customers to build and support customer networks. The company is headquartered in Sunnyvale, California*. For more information, please contact the company at 408-745-2000 or visit the Web site at http://www.juniper.net.
Juniper Networks is a registered trademark of Juniper Networks, Inc. All other trademarks, service marks, registered trademarks, or registered service marks may be the property of their respective owners.
