Ariel Corporation and MAYAN Networks Merger Update; MAYAN and Ariel Confirm Merger's Importance; Merger Efforts Proceeding

Jun 18, 2001, 01:00 ET from Ariel Corporation

    CRANBURY, N.J. and SAN JOSE, Calif., June 18 /PRNewswire/ -- MAYAN
 Networks Corporation and Ariel Corporation (Nasdaq:   ADSP) today announced that
 their merger efforts were proceeding.  Management from both companies
 confirmed their commitments to complete the merger as soon as possible after
 satisfaction of closing conditions and receipt of necessary approvals.
     "Our merger efforts are on schedule and we are looking forward to becoming
 an integral part of the MAYAN Networks organization upon receiving SEC and
 shareholder approval," said Dennis Schneider, Ariel CEO and President.  He
 added:  "We're already planning cooperative efforts between Ariel and MAYAN
 engineering, sales, and marketing functions.  Organization shifts needed to
 smooth the transition into MAYAN are on schedule as well."
     Esmond T. Goei, MAYAN Chairman, CEO and President, commented:  "We're
 fully committed to complete our merger with Ariel as rapidly as possible.
 Teamwork on new opportunities is developing rapidly and we expect that this
 will yield improvements in prospects for future products and expanding the
 sales opportunity pipeline."
     As had been previously announced, the transaction is subject to approval
 by MAYAN and Ariel stockholders, among other closing conditions.
     About MAYAN Networks
     MAYAN Networks, a development stage company, was founded in 1998 to
 simplify the delivery of services and to reduce cost and complexity at the
 edge of the optical network.  Its first product, the Unifier SMX, is expected
 to bring intelligence to the network edge, helping customers migrate from
 TDM-based service models to the future of IP-based services.  MAYAN's Unifier
 was recently awarded the prestigious InfoVision Award at the National
 Communications Forum, and is currently in trials at nine other service
 provider networks.
     MAYAN's customers include Competitive Local Exchange Carriers (CLECs),
 Incumbent Local Exchange Carriers (ILECs), Inter-Exchange Carriers (IXCs) and
 Independent Telephone Operating Companies (ITOCs).  MAYAN Networks is based in
 San Jose, California and more information on the company can be found at
     About Ariel
     Ariel Corporation is a leading provider of high-density, SS7-enabled
 dial-up access equipment for applications such as Internet access, corporate
 Intranet/Extranet access, on-line services, telecommuting, transaction
 processing and unified messaging.  Ariel's dial-up access concentrator
 products make it easy for ISPs and OEMs targeting ISPs and other service
 providers to create high-density dial-up solutions using open systems
 platforms running a variety of popular operating systems, including Windows NT
 and Linux.
     Statements contained in this press release that are not historical facts
 are forward-looking statements that are made pursuant to the safe harbor
 provisions of the Private Securities Litigation Reform Act of 1995, as
 amended.  Forward-looking statements involve risks and uncertainties,
 including Ariel's ability to complete its merger with MAYAN, Ariel's sales
 prospects, market acceptance of Ariel's products by technical original
 equipment manufacturers and internet service providers, the timely development
 and acceptance of new products, the impact of competitive products and
 pricing, changing market conditions and the other risks detailed from time to
 time in Ariel's filings with the SEC.  These risks and uncertainties could
 cause actual results to differ materially from those projected or currently
 expected.  These forward-looking statements represent Ariel's judgment as of
 the date of this release.  Ariel disclaims, however, any intent or obligation
 to update these forward-looking statements.
     Additional Information and Where to Find It
     Ariel has filed a Registration Statement on SEC Form S-4 in connection
 with the Merger, and Ariel and MAYAN expect to mail a Joint Proxy
 Statement/Prospectus to stockholders of Ariel and MAYAN containing information
 about the Merger.  Investors and security holders are urged to read the
 Registration Statement and the Joint Proxy Statement/Prospectus carefully.
 The Registration Statement and the Joint Proxy Statement/Prospectus contain
 important information about Ariel, MAYAN, the Merger, the persons soliciting
 proxies relating to the Merger, their interest in the Merger, and related
 matters.  Investors and security holders may  obtain free copies of these
 documents through the website maintained by the U.S. Securities and Exchange
 Commission at  Free copies of the joint Proxy
 Statement/Prospectus and these other documents may also be obtained from Ariel
 by directing a request through the Investors Relations portion of Ariel's
 website at or by mail to Ariel Corporation, 2540 Route
 130, Suite 128, Cranbury, NJ 08512, attention: Investor Relations, telephone:
 (609) 860-2900.
     In addition to the Registration Statement and the Joint Proxy
 Statement/Prospectus, Ariel files annual, quarterly and special reports, proxy
 statement and other information with the Securities and Exchange Commission.
 You may read and copy any reports, statements or other information filed by
 Ariel at the SEC public reference rooms at 450 Fifth Street, N.W., Washington,
 D.C. 20549 or at any of the Commissions' other public reference rooms in New
 York, New York and Chicago, Illinois.  Please call the Commission at
 1-800-SEC-0330 for further information on the public reference rooms.  Ariel's
 filings with the Commission are also available to the public from commercial
 document-retrieval services and at the Web site maintained by the commission
     Ariel, its directors, executive officers and certain other members of
 management and employees may be soliciting proxies from Ariel stockholders in
 favor of the issuance of Ariel common stock in the merger.
     The directors and executive officers of Ariel and MAYAN have interests in
 the merger, some of which may differ from, or may be in addition to, those of
 Ariel's stockholders generally.  A description of the interest that Ariel's
 and MAYAN's directors have in the merger is available in the Joint Proxy
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SOURCE Ariel Corporation