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Avaya Announces Sale of 34.5 Million Shares Of Common Stock

09-08-2003

Avaya Inc., (NYSE:AV) a leading global provider of communicationsnetworks and services for businesses, today said it sold 34.5million shares of newly issued common stock at $10.20 per share,before underwriting discounts, generating gross proceeds of $352million. J.P. Morgan Securities, Inc. acted as sole book-runningmanager in connection with the transaction.

Avaya Inc., (NYSE:AV) a leading global provider ofcommunications networks and services for businesses, today said itsold 34.5 million shares of newly issued common stock at $10.20 pershare, before underwriting discounts, generating gross proceeds of$352 million. J.P. Morgan Securities, Inc. acted as solebook-running manager in connection with the transaction.

Avaya said it will use a portion of the net proceeds to fund avoluntary contribution to its pension plan and the remaining netproceeds for general corporate purposes.

This press release shall not constitute an offer to sell or thesolicitation of an offer to buy, nor shall there be any sale ofthese securities in any jurisdiction in which such offer,solicitation or sale would be unlawful prior to registration orqualification under the securities laws of any such jurisdiction. Acopy of the final prospectus supplement and prospectus can beobtained from J.P. Morgan Securities Inc., Chase DistributionSupport Service, 1 Chase Manhattan Plaza, Floor 5B, New York, N.Y., 10081.

About Avaya
Avaya Inc. designs, builds and manages communications networks formore than 1 million businesses worldwide, including 90 percent ofthe FORTUNE 500®. Focused on businesses large to small, Avaya is aworld leader in secure and reliable Internet Protocol (IP)telephony systems and communications software applications andservices.

Driving the convergence of voice and data communications withbusiness applications — and distinguished by comprehensiveworldwide services — Avaya helps customers leverage existing andnew networks to achieve superior business results. For moreinformation visit the Avaya Web site: http://www.avaya.com

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