EHUD GELBLUM, an Analyst with J.P. Morgan Securities, focuses on
telecommunications equipment, hardware and datanetwork stocks. He was
previously a buyside analyst at Andor Capital. Prior to that, he was a
telecommunications services analyst with Credit Suisse First Boston and
a wireline telecommunications analyst at Merrill Lynch. He has a PhD.
TELECOMMUNICATIONS EQUIPMENT: EHUD GELBLUM - J.P. MORGAN SECURITES
April 19, 2004