Stratos Lightwave Completes Transition to Independent Company

Apr 30, 2001, 01:00 ET from Stratos Lightwave, Inc.

    CHICAGO, April 30 /PRNewswire/ -- Stratos Lightwave (Nasdaq:   STLW)
 announced today that the spin off of Stratos shares from its former parent,
 Methode Electronics, Inc. (Nasdaq:   METHA), has been completed.  As of April
 28, 2001, Methode Class A & 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.  Based upon a ruling
 received from the Internal Revenue Service on March 22, 2001, this
 distribution was tax-free to stockholders for U.S. federal income tax
 purposes.  Cash distributed in lieu of fractional shares will be taxable.
     "We officially launched Stratos as a separate entity back in June 2000
 with the successful completion of our IPO and are pleased that the spin off
 distribution has been completed as originally planned," commented James W.
 McGinley, President and Chief Executive Officer of Stratos.  "Much has been
 accomplished in the time between the IPO and the spin-off and we are excited
 about our company and its future in the dynamic communications sector.  Our
 transition to a fully-independent public company will strengthen our ability
 to compete within our industry and create additional value for our
 shareholders."
 
     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/11690X18745772
 
 

SOURCE Stratos Lightwave, Inc.
    CHICAGO, April 30 /PRNewswire/ -- Stratos Lightwave (Nasdaq:   STLW)
 announced today that the spin off of Stratos shares from its former parent,
 Methode Electronics, Inc. (Nasdaq:   METHA), has been completed.  As of April
 28, 2001, Methode Class A & 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.  Based upon a ruling
 received from the Internal Revenue Service on March 22, 2001, this
 distribution was tax-free to stockholders for U.S. federal income tax
 purposes.  Cash distributed in lieu of fractional shares will be taxable.
     "We officially launched Stratos as a separate entity back in June 2000
 with the successful completion of our IPO and are pleased that the spin off
 distribution has been completed as originally planned," commented James W.
 McGinley, President and Chief Executive Officer of Stratos.  "Much has been
 accomplished in the time between the IPO and the spin-off and we are excited
 about our company and its future in the dynamic communications sector.  Our
 transition to a fully-independent public company will strengthen our ability
 to compete within our industry and create additional value for our
 shareholders."
 
     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/11690X18745772
 
 SOURCE  Stratos Lightwave, Inc.