Sycamore Networks Inc. announced on March 27, 2013, each of Gururaj Deshpande, John W. Gerdelman and Craig R. Benson tendered his resignation from the Board, in each case effective as of the close of business on April 1, 2013. The resignations were not due to any disagreement with Sycamore on any matter. Following the acceptance of such resignations, the Board reduced the number of directors constituting the Board to three, effective as of the close of business on April 1, 2013. On March 27, 2013, the Board also approved the termination of the employment of (a) Paul F. Brauneis, Sycamore’s Vice President of Finance and Administration, Chief Financial Officer and Treasurer, effective as of April 1, 2013, and (b) Daniel E. Smith, Sycamore’s President and Chief Executive Officer, and Kevin J. Oye, Sycamore’s Vice President, Systems and Technology, in each case effective as of April 8, 2013. On March 27, 2013, the Board appointed Alan R. Cormier, Sycamore’s current General Counsel and Secretary, as the President and Chief Executive Officer of Sycamore, effective immediately following the departure of Daniel E. Smith as President and Chief Executive Officer on April 8, 2013. Also on March 27, 2013, the Board appointed Anthony Petrillo, Sycamore’s current Corporate Controller and Assistant Secretary, as Chief Financial Officer and Treasurer, effective immediately following the departure of Paul F. Brauneis as Vice President of Finance and Administration, Chief Financial Officer and Treasurer on April 1, 2013. On March 27, 2013, the Board elected Alan R. Cormier to serve as a Class III director, effective immediately following the effectiveness of the resignation of Mr. Deshpande, to fill the vacancy created by such resignation for the unexpired term of Mr. Deshpande, subject to the election and qualification of Mr. Cormier’s successor and to his earlier death, resignation or removal.

Sycamore Networks Inc. will be removed from NASDAQ Telecom Index.

Sycamore Networks Inc.’s common stock will be deleted from NASDAQ effective March 8, 2013. The common stock will be added to Other OTC.