Steven D. Levy

Director

After more than 19 years on Wall Street, and 6 years at AT&T in the early 1980s, Steve has recently embarked on his next professional path; sharing his accumulated knowledge of business in general, and the telecommunications industry specifically, as an independent director of corporate boards. He most recently served as a Managing Director and Global Head of Communications Technology Research at Lehman Brothers until September 2005. Before joining Lehman Brothers, Steve was a Director of Telecommunications Research at Salomon Brothers, a Managing Director and Head of the Communications Research Team at Oppenheimer & Co. and a senior communications analyst at Hambrecht & Quist. Steve has been recognized as one of the top analysts in the industry by a variety of independent organizations and surveys. Steve was often quoted in communications trade journals, financial publications, and was regularly interviewed by CNBC, CNN, and other business television shows. During his years on Wall Street, Steve was responsible for research on Tier 1 equipment vendors and covered all aspects of the telecommunications technology industry including wireless infrastructure, voice and call processing, data networking, and video and teleconferencing. From 1986 through 2005, Steve played a supporting role in numerous M&A transactions and secondary offerings. Prior to coming to Wall Street, Steve worked at AT&T. He is currently serving as a director of publicly held PCTEL (PCTI-Nasdaq), Zhone Technologies (ZHNE-Nasdaq), and Allot Communications (ALLT-Nasdaq). He recently sat on the Tut Systems (TUTS-NASDAQ) board of directors before its acquisition by Motorola. Steve received his M.B.A. and his B.S. in Materials Engineering from Rensselaer Polytechnic Institute in 1980 and 1978 respectively.