E-Tek Underwriters to Release More Shares

The underwriters for the initial public offering E-Tek Dynamics Inc. (San Jose, CA) have agreed to a release an additional 20% of about 56 million shares that were initially agreed subjected to lockup agreements due to expire May 30. This is in addition to the underwriters' previous release of 10% of the shares subject to this lockup. The release applies on a pro rata basis to the holdings of each locked up stockholder, and was effective with the opening of trading on April 16. The release of the lockup has no effect on various securities laws and regulations that restrict sales of shares by certain stockholders.