The parties have reached a tentative $11.7 million settlement of several class actions filed against networking solutions business FORE Systems, Inc. (formerly Nasdaq: FORE) and certain of its officers and directors by stockholders who purchased the company's common stock between July 19, 1996, and April 1, 1997. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. To recover under the settlement, a completed proof of claim postmarked no later than January 14, 2004, must be mailed to the claims administrator.

The stockholders estimate that there were approximately 51.1 million shares of Fore common stock traded during the applicable period which may have been damaged as a result of the defendant’s alleged wrongful conduct. It is estimated that the average recovery per damaged share of Fore common stock under the settlement is $0.23 per damaged share before deduction of court-awarded attorneys’ fees and expenses. Depending on the number of claims submitted, when during the applicable period stockholders purchased or otherwise acquired their shares of stock, and whether those shares were held at the end of the applicable period or sold before the end of that period, and if sold, when they were sold, an individual stockholder may receive more or less than this average amount. Under the relevant securities laws, a stockholder’s recoverable damages are limited to the losses attributable to the alleged securities law violations. Losses which resulted from factors other than an alleged securities law violation are not recoverable from the settlement fund.

On June 17, 1999, The General Electric Company, PLC (‘‘GEC’’) acquired FORE Systems, Inc. in a cash tender offer for approximately $4.5 billion. By November 29, 1999, GEC was renamed Marconi Corporation, PLC, and became an indirect wholly-owned subsidiary of Marconi, PLC. Marconi was incorporated on September 17, 1999. Its ordinary shares were listed on the London Stock Exchange on November 30, 1999, when it became the new holding company of the remaining businesses of Marconi Corporation, PLC. Marconi’s American Depositary Receipts were traded on the Nasdaq. On May 16, 2002, Marconi announced debt restructuring discussions were ongoing with syndicate banks and certain bondholder representatives that could lead to a dilution of value for existing shareholders. On July 3, 2002, Marconi’s ADRs were delisted from the Nasdaq. On August 29, 2002, Marconi announced it sought a proposed restructuring of its principal financial obligations. On May 15, 2003, Marconi received approval for its restructuring from the bankruptcy court. As part of the restructuring, trading in its shares ceased as of May 16, 2003, and shares in the restructured company began trading again thereafter.

Claim forms may be requested from the claims administrator by writing:

In re FORE Systems, Inc. Securities Litigation
Heffler Radetich & Saitta, LLP
P.O. Box 1490
Philadelphia, PA 19105-1490

Or by calling (800) 528-7199.

The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for December 15, 2003.