Avanex Corporation, a global provider of optical network solutions, today announced the appointment of Dr. Giovanni Barbarossa as CEO, President, and Director. Dr. Barbarossa has been with the company for 8 years, serving as Chief Technical Officer and Sr. V.P., and, since July, as Interim CEO. He has also been named as a member of the Avanex Board of Directors.

Prior to Avanex, Dr. Barbarossa held senior management roles in the Optical Networking Division of Agilent Technologies, and in the Network Product Group of Lucent Technologies. Before that he was with AT&T Labs, and a research associate with Bell Labs. He has a Ph.D. in Electrical Engineering from the University of Glasgow, U.K., and a B.S. in Electrical Engineering from the University of Bari in Italy.

Paul Smith, Avanex Board Chairman, commented on the factors involved in the decision, including Barbarossa’s company and industry knowledge, and his strong relationships with customers. “During

Inter Parfums, Inc.’s (IPAR) growth strategy of acquiring exclusive worldwide licenses and developing new prestige fragrances under those brand names has resulted in a 19.5% sales growth rate.

The management has aggressively pursued additional license agreements -- Gap (GPS) and Quiksilver (ZQK) -- and has also entered the skincare category. Earnings guidance has been increased after each of the last five quarterly earnings reports except the most recent in August. The stock is rated a Hold.

The company’s new product pipeline continues to be strong and robust in fragrances. Most recently, the company entered into a 12-year agreement with Van Cleef & Arpels to manufacture and distribute perfumes and related products under the Van Cleef & Arpels brand name. Under the Van Cleef & Arpels brand, the company plans to roll out a new women’s scent during the fall of 2008 and Rumeur 2 Rose under the Lanvin brand.

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