Methode Announces Completion of Stratos Distribution

Apr 30, 2001, 01:00 ET from Methode Electronics, Inc.

    CHICAGO, April 30 /PRNewswire/ -- Methode Electronics, Inc.
 (Nasdaq:   METHA) today announced the completion of the distribution of all of
 its shares of Stratos Lightwave, Inc. (Nasdaq:   STLW) to its stockholders.  As
 of April 28, 2001, Methode Class A and Class B stockholders of record on
 April 5, 2001 were issued approximately 1.5113 shares of Stratos common stock
 for each share of Methode Class A and Class B common stock held.  Cash will be
 issued in lieu of fractional shares.  Methode distributed a total of
 54,029,807 shares, representing approximately 84.3%, of Stratos' outstanding
 common stock.
     As previously announced, Methode received a ruling from the Internal
 Revenue Service that the Stratos distribution will be tax-free to stockholders
 for U.S. federal income tax purposes.  Cash received in lieu of fractional
 shares will be taxable.
     On or about April 12, 2001, Methode mailed an information statement to
 Methode Class A and Class B stockholders as of the April 5, 2001 record date.
 The information statement includes additional information about the terms of
 the distribution, certain federal tax consequences of the distribution,
 Stratos and Stratos common stock.
     For additional information on the Stratos Lightwave distribution, please
 visit Methode's website at www.methode.com or call 708-867-6777.  Information
 on Stratos Lightwave can be obtained at www.stratoslightwave.com or by calling
 708-867-9600.
 
     About Methode Electronics
     Methode Electronics, Inc., with 3,400 employees in 19 plants worldwide
 (excluding Stratos Lightwave), manufactures component devices for Original
 Equipment Manufacturers (OEMs) of information processing and networking
 equipment, voice and data communications systems, consumer electronics,
 automobiles, aerospace vehicles and industrial equipment.  Products employ
 electrical, electronic and fiber optic technologies in communication data
 links, interconnections and controls.
 
     About Stratos Lightwave
     Stratos Lightwave, Inc. develops, manufactures and sells optical
 subsystems and components for high data rate networking, data storage and
 telecommunications applications.  These optical systems are used in local area
 networks (LANs), storage area networks (SANs), metropolitan area networks
 (MANs), wide area networks (WANs) and central office networking in the
 telecommunications market.  The company also designs, manufactures and sells a
 full line of optical components and cable assemblies for use in these
 networks.
 
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SOURCE Methode Electronics, Inc.
    CHICAGO, April 30 /PRNewswire/ -- Methode Electronics, Inc.
 (Nasdaq:   METHA) today announced the completion of the distribution of all of
 its shares of Stratos Lightwave, Inc. (Nasdaq:   STLW) to its stockholders.  As
 of April 28, 2001, Methode Class A and Class B stockholders of record on
 April 5, 2001 were issued approximately 1.5113 shares of Stratos common stock
 for each share of Methode Class A and Class B common stock held.  Cash will be
 issued in lieu of fractional shares.  Methode distributed a total of
 54,029,807 shares, representing approximately 84.3%, of Stratos' outstanding
 common stock.
     As previously announced, Methode received a ruling from the Internal
 Revenue Service that the Stratos distribution will be tax-free to stockholders
 for U.S. federal income tax purposes.  Cash received in lieu of fractional
 shares will be taxable.
     On or about April 12, 2001, Methode mailed an information statement to
 Methode Class A and Class B stockholders as of the April 5, 2001 record date.
 The information statement includes additional information about the terms of
 the distribution, certain federal tax consequences of the distribution,
 Stratos and Stratos common stock.
     For additional information on the Stratos Lightwave distribution, please
 visit Methode's website at www.methode.com or call 708-867-6777.  Information
 on Stratos Lightwave can be obtained at www.stratoslightwave.com or by calling
 708-867-9600.
 
     About Methode Electronics
     Methode Electronics, Inc., with 3,400 employees in 19 plants worldwide
 (excluding Stratos Lightwave), manufactures component devices for Original
 Equipment Manufacturers (OEMs) of information processing and networking
 equipment, voice and data communications systems, consumer electronics,
 automobiles, aerospace vehicles and industrial equipment.  Products employ
 electrical, electronic and fiber optic technologies in communication data
 links, interconnections and controls.
 
     About Stratos Lightwave
     Stratos Lightwave, Inc. develops, manufactures and sells optical
 subsystems and components for high data rate networking, data storage and
 telecommunications applications.  These optical systems are used in local area
 networks (LANs), storage area networks (SANs), metropolitan area networks
 (MANs), wide area networks (WANs) and central office networking in the
 telecommunications market.  The company also designs, manufactures and sells a
 full line of optical components and cable assemblies for use in these
 networks.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X65396283
 
 SOURCE  Methode Electronics, Inc.