Vecima Networks Inc.

Vecima Networks Inc.

November 30, 2007 16:38 ET

CORRECTION FROM SOURCE: Vecima Files Notice of Intention for Normal Course Issuer Bid

VICTORIA, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2007) - The following corrects and replaces the release sent November 29, 2007 at 1:56 PM PT. The average daily trading volume for the 6-month period ending October 31, 2007, excluding Common Shares repurchased by the Corporation, was corrected.

Vecima Networks Inc. ("Vecima", the "Corporation") (TSX:VCM), the Last Mile Solution® for broadband wired and wireless networks, announced today that it has filed a notice of intention with the Toronto Stock Exchange (the "TSX") to acquire for cancellation, by way of normal course issuer bid (the "Bid"), up to 500,000 Common Shares of the Corporation, which, at the date hereof, represents approximately 2.2% of the issued and outstanding Common Shares of the Corporation and approximately 8.5% of the total public float of the Corporation. As of November 26, 2007, the Corporation had 23,209,873 issued and outstanding Common Shares. Vecima's average daily trading volume for the 6-month period ending October 31, 2007, excluding Common Shares repurchased by the Corporation, was 6,243. Vecima anticipates the Bid will commence on December 4, 2007 and terminate on December 3, 2008. The Corporation has repurchased 113,100 of its outstanding Common Shares in the last 12-month period at a weighted average price of $9.16. The Board of Directors of Vecima believes the underlying value of the Corporation's Common Shares may not be reflected in the current or future market price of the Common Shares and has therefore decided to undertake the Bid. Purchases pursuant to the Bid will be effected solely through the facilities of the TSX, purchases and payment for the Common Shares will be made by the Corporation in accordance with TSX requirements and the price which Vecima will pay for any Common Shares acquired under the Bid will be the market price for the Common Shares at the time of acquisition.

For further information or to obtain a copy of the Notice filed with the TSX in connection with the Bid, please contact Mike Barry, Chief Financial Officer of Vecima at (250) 881-1982, ext. 2134.

About Vecima Networks

Vecima Networks Inc. (TSX:VCM) designs, manufactures and sells products that enable broadband access to cable, wireless and telephony networks. Vecima's hardware products incorporate original embedded software to meet the complex requirements of next-generation, high-speed digital networks. Service providers use Vecima's solutions to deliver services to a converging worldwide broadband market, including what are commonly known as "triple play" (voice, video and data) and "quadruple play" (voice, video, data and wireless) services. Vecima's solutions allow service providers to rapidly and cost-effectively bridge the final network segment that connects the system directly to end users, commonly referred to as "the last mile", by overcoming the bottleneck resulting from insufficient carrying capacity in legacy, last mile infrastructures. Vecima's products are directed at two principal markets: Converged Wired Solutions and Broadband Wireless. The Company has also developed and continues to focus on developing products to address emerging markets such as Voice over Internet Protocol, fibre to the home and IP video.

Forward-Looking Statements

Certain statements in this news release may constitute forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, such statements are generally identified by the use of such words as "may", "will", "expect", "believe", "plan", "intend" and other similar terminology. These statements reflect Vecima's current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors including, but not limited to, the factors discussed under "Risk Factors" in the Company's Annual Information Form dated September 25, 2007 available on SEDAR (, could cause actual results to differ materially from the results discussed in the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.

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