Tut Systems, Inc. Announces a Reduction in Workforce

Apr 23, 2001, 01:00 ET from Tut Systems, Inc.

    PLEASANTON, Calif., April 23 /PRNewswire Interactive News Release/ --
 Tut Systems, Inc. (Nasdaq:   TUTS), a leading provider of multi-service
 broadband systems for multi-tenant buildings, today reported that it has taken
 steps to reduce its workforce by approximately 28%.  Tut also announced the
 cancellation of its Option Exchange Program whereby the company had offered to
 exchange existing options held by certain employees for new options to be
 issued at a future date.
     Sal D'Auria, the company's President and CEO stated, "We believe that the
 changes we are making are a pragmatic approach to the challenging market
 conditions, and that we are still positioned to develop innovative next
 generation network infrastructure products and take advantage of evolving
 market opportunities."
     Tut will discuss the actions announced today and first quarter results
 during a conference call beginning at 2 p.m. Pacific Time on May 10, 2001.
 The conference call can be accessed by dialing 800-967-7141, confirmation #
 472634 at least 5 minutes before start time or via a live webcast of the
 conference call that will be available at www.tutsystems.com.  A replay of the
 call will be available from 5:00 p.m. Pacific Time, May 10, 2001, through 5:00
 p.m. Pacific Time, May 17, 2001, at 888-203-1112, confirmation code #472634.
 
     About Tut Systems, Inc.
     Tut Systems is the leading provider of solutions that deliver reliable
 broadband services within multi-tenant buildings (MTUs) such as hotels,
 apartments, student housing and multi-tenant commercial properties.  In
 partnership with service providers and real estate investment trusts, Tut's
 solutions have been deployed in hotel, commercial and residential properties
 worldwide.
     More information on Tut and its products, including international
 availability, can be found at http://www.tutsystems.com , or by contacting
 Tut's US headquarters in Pleasanton, California, at 925-460-3900 or
 800-998-4888.  Investor queries should be directed to 800-486-1241.
     For more information, visit Tut's World Wide Web site at
 http://www.tutsystems.com or contact Tut's US headquarters in Pleasanton,
 California, directly at 925-460-3900 or 800-998-4888. For investor
 information, please call 800-486-1241.
     NOTE:  Tut, the Tut logo, HomeRun and Fast Copper are trademarks of Tut
 Systems, Inc.  All other products or company names mentioned are used for
 identification purposes only, and may be trademarks of their respective
 owners.
 
     Safe Harbor Statement under the Private Securities Litigation Reform Act
 of 1995 for Tut Systems, Inc.:
     This press release contains forward-looking statements. These
 forward-looking statements are made pursuant to the "safe-harbor" provisions
 of the Private Securities Litigation Reform Act of 1995 and are made based on
 management's current expectations and beliefs as well as assumptions made by,
 and information currently available to, management.  The statements regarding
 the approximate number of people affected by the reduction in force and the
 company's future product development and company growth are forward looking
 statements.  The company may decide to increase or decrease the number of
 people affected by the reduction in force.  Among the factors that could
 affect future product development and company growth are the company's ability
 to successfully utilize reduced resources effectively, the company's ability
 to generate additional revenue, and the company's ability to establish a new
 customer base and other risks detailed from time-to-time in Tut Systems' SEC
 filings and reports.
 
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SOURCE Tut Systems, Inc.
    PLEASANTON, Calif., April 23 /PRNewswire Interactive News Release/ --
 Tut Systems, Inc. (Nasdaq:   TUTS), a leading provider of multi-service
 broadband systems for multi-tenant buildings, today reported that it has taken
 steps to reduce its workforce by approximately 28%.  Tut also announced the
 cancellation of its Option Exchange Program whereby the company had offered to
 exchange existing options held by certain employees for new options to be
 issued at a future date.
     Sal D'Auria, the company's President and CEO stated, "We believe that the
 changes we are making are a pragmatic approach to the challenging market
 conditions, and that we are still positioned to develop innovative next
 generation network infrastructure products and take advantage of evolving
 market opportunities."
     Tut will discuss the actions announced today and first quarter results
 during a conference call beginning at 2 p.m. Pacific Time on May 10, 2001.
 The conference call can be accessed by dialing 800-967-7141, confirmation #
 472634 at least 5 minutes before start time or via a live webcast of the
 conference call that will be available at www.tutsystems.com.  A replay of the
 call will be available from 5:00 p.m. Pacific Time, May 10, 2001, through 5:00
 p.m. Pacific Time, May 17, 2001, at 888-203-1112, confirmation code #472634.
 
     About Tut Systems, Inc.
     Tut Systems is the leading provider of solutions that deliver reliable
 broadband services within multi-tenant buildings (MTUs) such as hotels,
 apartments, student housing and multi-tenant commercial properties.  In
 partnership with service providers and real estate investment trusts, Tut's
 solutions have been deployed in hotel, commercial and residential properties
 worldwide.
     More information on Tut and its products, including international
 availability, can be found at http://www.tutsystems.com , or by contacting
 Tut's US headquarters in Pleasanton, California, at 925-460-3900 or
 800-998-4888.  Investor queries should be directed to 800-486-1241.
     For more information, visit Tut's World Wide Web site at
 http://www.tutsystems.com or contact Tut's US headquarters in Pleasanton,
 California, directly at 925-460-3900 or 800-998-4888. For investor
 information, please call 800-486-1241.
     NOTE:  Tut, the Tut logo, HomeRun and Fast Copper are trademarks of Tut
 Systems, Inc.  All other products or company names mentioned are used for
 identification purposes only, and may be trademarks of their respective
 owners.
 
     Safe Harbor Statement under the Private Securities Litigation Reform Act
 of 1995 for Tut Systems, Inc.:
     This press release contains forward-looking statements. These
 forward-looking statements are made pursuant to the "safe-harbor" provisions
 of the Private Securities Litigation Reform Act of 1995 and are made based on
 management's current expectations and beliefs as well as assumptions made by,
 and information currently available to, management.  The statements regarding
 the approximate number of people affected by the reduction in force and the
 company's future product development and company growth are forward looking
 statements.  The company may decide to increase or decrease the number of
 people affected by the reduction in force.  Among the factors that could
 affect future product development and company growth are the company's ability
 to successfully utilize reduced resources effectively, the company's ability
 to generate additional revenue, and the company's ability to establish a new
 customer base and other risks detailed from time-to-time in Tut Systems' SEC
 filings and reports.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X02683751
 
 SOURCE  Tut Systems, Inc.