Ottawa, Canada and San Jose, California – January 2, 2002 – JDS Uniphase Corporation (Nasdaq: JDSU and TSE: JDU) today announced that it has completed its previously announced acquisition of the optical transceiver business of IBM Corporation. The Company paid IBM $100 million in cash and 26.9 million shares of JDS Uniphase common stock in the transaction. As previously announced, additional payments of up to $85 million in cash or stock may be made in early calendar 2003 based on the financial performance of the acquired business.

JDS Uniphase is a high technology company that designs, develops, manufactures and sells a comprehensive range of products for high-performance fiberoptic communications applications.These products are deployed by system manufacturers worldwide, to develop advanced optical networks for the telecommunications and cable television industries. JDS Uniphase Corporation is traded on the Nasdaq National Market under the symbol JDSU and the exchangeable shares of JDS Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol JDU. More information on JDS Uniphase is available at www.jdsu.com.

More information on these products can be found on the IBM web site. Click here to view them or contact your JDS Uniphase Representative.