Siemens Sells Partial Equity Holdings of Juniper Networks
Continue to Develop Relationship
MUNICH, Germany and SUNNYVALE, Calif., December 16, 2004 - Siemens (NYSE: SI) and Juniper Networks, Inc. (Nasdaq: JNPR) today announced that Siemens has sold approximately 13 million shares of its holdings in Juniper Networks common stock. Siemens received these shares in connection with the acquisition by Juniper Networks of Unisphere Networks from Siemens in 2002.
"This sale was made in the course of our normal treasury planning and asset allocation efforts" said Peter Moritz of Siemens. "We continue to develop our commercial and technology relationship with Juniper Networks."
Siemens remaining ownership in Juniper Networks common stock is below 5% of the total outstanding shares.
Siemens is a global powerhouse in electrical engineering and electronics. We have more than 426,000 employees around the world working to develop and manufacture leading-edge products, design and install complex systems and projects, as well as tailor a range of dedicated solutions, in accordance with our customers' requirements. In the 150 years since our company was formed, we have amassed a vast spectrum of competencies that has been disseminated throughout our organization worldwide, creating a truly unique range of products and services. The technology offered by Siemens in the areas of Information and Communications, Automation and Control, Power, Transportation, Medical and Lighting, improves the day-to-day of people and contributes to perfect quality of life standards around the world. Siemens offers systems that can help the world overcome tomorrow's challenges.Our goal at the start of this new millennium is to boost profitability even further and increase the value of the Company. For such, Siemens will continue to do business, in the more than 190 countries it is present in, with the objective of achieving customer satisfaction, investors confidence and coworker excellence.
About Juniper Networks, Inc.
Juniper Networks transforms the business of networking by creating competitive advantage for our customers with superior networking and security solutions. Juniper Networks is dedicated to customers who derive strategic value from their networks, including global network operators, enterprises, government agencies and research and educational institutions. Juniper Networks' portfolio of networking and security solutions supports the complex scale, security and performance requirements of the world's most demanding mission critical networks. Additional information can be found at www.juniper.net.
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