Symmetricom Announces Board Changes
BizWire (08/21/2003 5:00 PM ET)

    Business Editors/High-Tech Writers

    SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 21, 2003--Symmetricom, Inc. (NASDAQ:SYMM), a leading worldwide supplier of atomic clocks and network synchronization and timing solutions, today announced a transition plan for its Board of Directors.

    Erik H. van der Kaay, 63, currently Chairman of the Board, has decided not to stand for re-election at the October 31, 2003 annual meeting and has resigned from the Board. He will remain a consultant to Symmetricom. Mr. van der Kaay became Chairman of the Board in October 2002 upon the completion of Symmetricom's acquisition of Datum, Inc., where he served as President, Chief Executive Officer, and Chairman of the Board.

    "With the integration of Datum into Symmetricom essentially completed, and with the evolution of corporate governance under the Sarbanes Oxley Act, the company has adopted a plan that will seek to maintain the total number of directors at 9, of which at least 8 must meet the newly emerging guidelines for independence. It has also been decided that the company would adopt rules which will require that the Chairman be an independent director. " said Mr. van der Kaay. "Consistent with this transition plan, I have resigned from the board of directors although I will continue to work as a consultant focused on identifying potential future strategies. I remain very optimistic about the future of Symmetricom and look forward to continuing my support for the Company."

    "I am deeply appreciative of Erik's contribution to the Symmetricom board," said Tom Steipp, CEO. "He has been instrumental in the planning of our consolidation activities to move the company toward improved efficiency and profitability. With that work largely behind us, this is an appropriate time for us to begin making the transition to a more independent Board and an independent Chairman. Our Governance Committee has initiated a process that will identify a new Board member and to elect an independent member as Chairman. In the interim, Krish Prabhu, an independent Board member who has been in this position for over five years, will serve as Interim Chairman."

    About Symmetricom

    Symmetricom, Inc. is the leading worldwide supplier of atomic clocks and network synchronization and timing solutions. The company designs, manufactures, markets and provides services for wireline and wireless synchronization; space, defense and aerospace systems; network time servers; as well as G.shdsl-based broadband network equipment for the telecom, government and enterprise markets. Symmetricom is based in San Jose, California. For more information visit http://www.symmetricom.com.

--30--MR/sf* CONTACT: Symmetricom, Inc. Bill Slater, 408-428-7801 bslater@symmetricom.com www.symmetricom.com or Stapleton Communications Inc. Ellen Brook, 650-470-0200 ellen@stapleton.com KEYWORD: CALIFORNIA INDUSTRY KEYWORD: MANUFACTURING TELECOMMUNICATIONS NETWORKING HARDWARE COMPUTERS/ELECTRONICS MANAGEMENT CHANGES SOURCE: Symmetricom, Inc.