Filed by SR Telecom Inc.
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Netro Corporation
Commission File No. 333-107620
NEWS RELEASE [LOGO SR Telecom]
www.srtelecom.com
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For more information:
David Adams Paul Goyette
(Senior Vice-President, Finance and CFO) (Director, Communications)
(514) 335-4035 (514) 335-2429 x 4361
email: david_adams@srtelecom.com email: paul_goyette@srtelecom.com
Brian Quick (Maison Brison)
(514) 731-0000
email: brian@maisonbrison.com
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SR TELECOM RECEIVES FIRST ORDERS FOR AIRSTAR
AIRSTAR WILL SERVE AS BACKUP FOR MISSION CRITICAL FINANCIAL NETWORK
MONTREAL, AUGUST 29, 2003 -- SR TelecomTM Inc. (TSX: SRX), a global leader in
fixed wireless access solutions, today announced that it has received its first
orders for Netro Corporation's (NASDAQ: NTRO) AirStar product from a leading
telecommunications service provider in Mexico. The contract calls for SR
Telecom to build a high-capacity fixed wireless access network in support of
mission-critical network redundancy services to the financial community. The
network will establish broadband connectivity between the national stock
exchange and its users within the financial community using AirStar in a
point-to-multipoint network configuration.
"Our extensive experience in the deployment of leading-edge fixed wireless
networks combined with the superior capabilities of the AirStar product
represented the best solution for this customer in delivering equivalent to
wireline dependability and quality of service to its users in the financial
community," said Claude Giguere, Senior Vice President, SR Telecom.
With product availability at 3.5, 10.5, 26 and 28GHz, AirStar addresses the
needs of operators and carriers who offer metropolitan broadband connectivity
services. AirStar's intelligent ATM-based technology optimizes spectrum use
through packet-based dynamic bandwidth allocation, enabling AirStar to handle a
wide variety of services and provide on-demand bandwidth quickly, reliably and
economically. AirStar is also used for cellular transmission infrastructure
applications. AirStar is deployed in Europe, Asia, Latin America, the Middle
East and North America.
Backed by two decades of providing fixed wireless access systems, SR Telecom
offers its customers a full range of services, from network planning to system
maintenance and 24/7 technical assistance around the world.
On March 27, SR Telecom announced an agreement and plan of merger with Netro.
On August 27, 2003, Netro's stockholders approved and adopted the proposed
agreement and plan of merger with SR Telecom. The closing of the merger is
contingent upon other customary closing conditions and the formal declaration
by Netro's board of directors of an aggregate US$100 million dividend; the
closing is expected to occur on September 4, 2003. Only Netro stockholders of
record as of the close of business on September 4, 2003, will be entitled to
receive the merger consideration of SR Telecom Common Share and the cash
dividend.
ABOUT SR TELECOM
SR Telecom is a world leader and innovator in Fixed Wireless Access technology,
which links end-users to networks using wireless transmissions. SR Telecom's
field-proven solutions include equipment, network planning, project management,
installation and maintenance services. SR Telecom offers the industry's
broadest portfolio of fixed wireless products, designed to enable carriers and
service providers to rapidly deploy high-quality voice, high-speed data and
broadband applications. These products, which are used in over 110 countries,
are among the most advanced and reliable available today.
FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of future
events. Such factors may include, without excluding other considerations,
fluctuations in quarterly results, evolution in customer demand for the
Company's products and services, the impact of price pressures exerted by
competitors, and general market trends or economic changes. As a result, readers
are advised that actual results may differ from expected results.
SR Telecom and Netro have filed a registration statement on Form F-4, including
a proxy statement/prospectus, and other relevant documents with the United
States Securities and Exchange Commission concerning the acquisition, and Netro
has mailed the proxy statement/prospectus to its stockholders in connection with
the acquisition. Investors and security holders are urged to read the proxy
statement/prospectus carefully, because it contains important information about
SR Telecom, Netro and the acquisition. Investors and security holders may obtain
free copies of these documents, through the website maintained by the United
States Securities and Exchange Commission at www.sec.gov. In addition, investors
and security holders may obtain free copies of the documents filed with the
Securities and Exchange Commission by SR Telecom by contacting SR Telecom
Investor Relations, 8150 Trans-Canada Highway, Montreal, Quebec, H4S 1M5, (514)
335-1210. Investors and security holders may obtain free copies of the documents
filed with the United States Securities and Exchange Commission by Netro
Corporation by contacting Netro Corporation Investor Relations, 3860 North First
Street, San Jose, California 95134, (408) 216-1500.
SR Telecom and Netro, and their respective directors, executive officers,
certain members of management and employees, may be deemed to be participants in
the solicitation of proxies from Netro's stockholders in connection with the
merger. A description of the interests of Gideon Ben-Efraim, Netro Corporation's
Chairman of the Board and Chief Executive Officer, and certain of Netro's other
executive officers, employees and directors who may be deemed to be participants
in the solicitation of proxies, and any additional benefit they may receive in
connection with the merger, are described in the proxy statement/prospectus.
Investors are urged to read the proxy statement/prospectus and other relevant
materials when they become available before making any voting or investment
decision with respect to the acquisition.
SR TELECOM is a trademark of SR Telecom Inc. All rights reserved 2003. AirStar
is a trademark of Netro Corporation.