(editor's note: for a photo, www.tellabs.com )

Hobson directs the marketing and client servicing effort at Ariel Capital Management, Inc., a Chicago-based investment management firm with over $8 billion in assets under management.

"As a respected member of the investment community, Mellody will play a key role in providing Tellabs with a strategic perspective of the overall market," said Tellabs chairman Michael J. Birck. "Her experience will be valuable as we work to renew our growth in a changed industry environment."

Hobson, 32, developed an interest in the investment industry after completing summer internships at Ariel Capital Management, Inc., and T. Rowe Price Associates. In 1991, Hobson became senior vice president and director of marketing at Ariel Capital Management, Inc., and in 2000 she was named president of the company. In this role, she oversees the firm's relationships with corporate, public and non-profit institutional clients as well as the marketing initiatives for the firm's four publicly traded mutual funds: Ariel Fund, Ariel Appreciation Fund, Ariel Premier Growth Fund and Ariel Premier Bond Fund. Additionally, as the firm's president, she plays a role in firm- wide management and strategic planning.

Hobson works with a variety of civic and professional institutions, including serving as director of the Chicago Public Library, Board Member of the Field Museum and Board Member of Do Something. She is a regular financial contributor on ABC's "Good Morning America." Her extensive media experience includes spending three years as a financial reporter on WGN's "Minority Business Report" and also regular appearances on CNN and CNNfn (financial network). In 1999, Crain's Chicago Business named her as one of the city's young leaders in its annual "40 Under 40" feature. In the June 1998 issue, Working Woman magazine named her one of its "20 Under 30." In 1992, she was recognized by Ebony magazine as one of the "30 Leaders of the Future."

Hobson is a graduate of Princeton University, where she received a bachelor of arts degree from the Woodrow Wilson School of International Relations and Public Policy.

Upon approval of the stockholders at the annual meeting, Hobson will succeed Brian Jackman, who is stepping down from the board after nine years. In 2001 Jackman retired from his positions as president - global systems and technology and executive vice president of Tellabs.

"Brian has been a close friend and wise counselor to so many Tellabs people, and to me personally," Birck said. "We wish him well in his retirement."

Jackman joined Tellabs in 1982 as director of sales and marketing from IBM, where he held various sales and marketing positions. In 1988, he was named senior vice president and general manager of Tellabs' Data Communications Division. He was promoted to executive vice president-business operations in 1990, became president of Tellabs Operations Inc. in 1993, and was president, global systems and technology from 1998 until his retirement last year.

Stephanie Pace Marshall, president of Illinois Math and Science Academy, and William F. Souders, retired chairman and chief executive officer Emery Air Freight Corporation, are up for reelection to the Tellabs board in 2002.

In more than 80 countries around the globe, Tellabs helps the world's leading communications service providers build tomorrow's converged networks of voice, data and video. Tellabs employees design, build and service optical networking, broadband access and voice-quality enhancement equipment. Today, most telephone calls and Internet sessions in the United States flow through equipment from Tellabs (Nasdaq: TLAB) ( www.tellabs.com ).

Tellabs and Tellabs logo are registered trademarks in the United States and/or other countries. All other company names and products mentioned herein may be the property of their respective companies.

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CONTACT:          Jennifer Stiglic, +1-630-798-2505,
                  jennifer.stiglic@tellabs.com , or Jean Medina, +1-630-512-8336,
                  jean.medina@tellabs.com , both of Tellabs

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