Passave Reaches FTTH (Fiber to the Home) Shipment Milestone - Delivers One Million ONU (Optical Network Unit) Devices to Mitsubishi
3/7/2006

Milestone in Japan highlights growth in world's largest FTTH market.

SANTA CLARA, CA and HERZLIYA, ISRAEL - Passave, Inc. a leading provider of FTTH silicon, today announced that it has delivered its one millionth FTTH ONU device to Mitsubishi Electric Corporation (TSE: 6503) for use in Japan's gigabit/second FTTH broadband access network market. Mitsubishi, a world leader in communication systems, has been supplying customer premise equipment (CPE) using Passave semiconductor devices to carriers in Japan since 2004. The FTTH broadband access network in Japan is the world's largest, with new FTTH subscribers exceeding new DSL subscribers since the first quarter of 2005.

Victor Vaisleib, CEO of Passave, stated "This is an important milestone as we continue to grow our market share in the high-quality, high-volume Japanese FTTH market. We are pleased to announce that Mitsubishi has deployed one million ONU systems to FTTH subscribers in Japan. This market is now the model for other global markets as they begin to deploy gigabit/second FTTH networks."

Said Motoyuki Nakamura, General Manager, Communication Networks Center, Mitsubishi Electric Corporation, "The Japanese consumer demands the highest quality standards and this milestone demonstrates our ability to deliver to that standard in high volume."

Mitsubishi supplies ONU FTTH equipment that provides high-speed data and voice services to consumers throughout the FTTH network. Mitsubishi's latest ONU is based on the new Passave third-generation PAS6201 ONU device powered by Passave's GigaPASST FTTH architecture. It is customer premise equipment that takes the place of conventional DSL or cable modems but delivers 1,000 greater bandwidth, up to one gigabit/second.

Japan First to Deploy FTTH in Mass Volume
Japan's Ministry of Internal Affairs and Communications officially reported on March 3, 2006 that "By the end of December 2005 the total number of Japanese broadband FTTH subscribers exceeded 4.6 million, with a 2.3 million annual increase in 2005." New Japanese broadband FTTH subscribers have exceeded those for new DSL subscribers since the first quarter of 2005. New FTTH subscribers first exceeded those for cable subscribers in June 2005.

About Mitsubishi Electric Corporation
With over 80 years of experience in providing reliable, high-quality products to both corporate clients and general consumers all over the world, Mitsubishi Electric Corporation (TSE: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 3410.7 billion yen (US31.9 billion*) in the year ended March 31, 2004. For more information, visit http://global.mitsubishielectric.com

About Passave, Inc.
Passave is a leading supplier of gigabit FTTH (Fiber to the Home) semiconductors for the broadband access network. Passave FTTH products use the field-proven GigaPASST FTTH architecture to provide the bandwidth and feature sets that enable service providers to deliver triple play services - integrated data, IPTV and voice - over passive optical networks. The GigaPASST architecture integrates gigabit PON to Ethernet interfaces, wire-speed protocol processing and programmable features, delivering high-performance, low-cost FTTH solutions. Passave's system-on-chip FTTH solutions are open-source software platforms with flexible hardware features giving system OEMs the ability to differentiate their products with application-specific features. Passave maintains offices in Santa Clara, California, Herzliya, Israel, Tokyo, Japan and Seoul, Korea, with customer support teams in China. For more information about Passave, visit www.passave.com.
 

Forward looking Statements
Statements made in this press release that are not historical facts, including statements regarding the future growth of the FTTH market, the growth of the broadband market generally, our new products and technologies, our expectations of future events or our future financial performance, are forward looking statements. These forward looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions about Passave and the matters covered in this release. You should not place undue reliance on these statements. Actual events or results may differ materially. Many factors may cause our actual results to differ materially from any forward looking statement. The forward looking statements are made as of this date and Passave does not undertake any obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.

GigaPASS is a trademark of Passave, Inc.

Passave Company Contact
Chris Bailey, Communications Director
Passave, Inc.
chris.bailey@passave.com
1-408-235-9790 x126

Media Contact, for Passave, Inc.
Constance Sweeney
Big Wave PR
cks@bigwavepr.com
1-650-358-9119




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