San Francisco (April 26, 2000) The Walden International ("WI") is pleased to announce that GlobeSpan, Inc., traded on NASDAQ under the symbol "GSPN" has completed the acquisition of T.sqware, Inc., one of WI's portfolio companies, for approximately US$200 million in GlobeSpan's common stock.

Headquartered in Santa Clara, CA, with engineering and support teams in Paris, France and Boston, MA, T.sqware, is a leading provider of network processors. T.sqware's programmable network processing chipset and integrated software suite is designed to meet the rapidly changing requirements of network edge equipment such as switches, routers, remote access concentrators, and DSLAMs. T.sqware's processor is fully programmable and scaleable enabling it to be adapted to changing specifications and data rates.

T.sqware's expert resources and processor capabilities will enable GlobeSpan to achieve a high level of DSL system integration including packet and cell (IP and ATM) based routing and switching capabilities, QoS support for voice, video and data applications, and highly integrated silicon solutions for the DSL equipment vendors.

"Network equipment vendors face serious challenges to keep up the performance of their products with the explosive demand in network bandwidth," says Rakinder Grover, General Partner of WI. "At the same time, these companies have strong time-to-market pressures in the highly competitive and fast changing communications industry. Innovations in communication components are key in meeting these challenges and are an important part of our investment focus," added Grover. "T.sqware has delivered a very compelling solution to the market with its high-performance, scalable and flexible network processors. The highly experienced engineering and management team executed very well to take advantage of the market opportunity."

WI is an international venture capital group with over US$1 billion in funds under management. WI's international network of investment professionals are located in the United States, Singapore, Hong Kong, Taiwan, Malaysia, the People's Republic of China, Philippines, Indonesia, India and Australia.