OKINAWA, Japan, July 24, 2000 - Cisco Systems, Inc., the worldwide leader in networking for the Internet, announced today that it will invest $3.5 million into educational programs in more than half of the world's Least Developed Countries (LDCs).

Cisco will deliver the investment through its global Cisco Networking Academy Program, which teaches students around the world how to design, build and maintain computer networks.

"The Cisco Networking Academy Program enables the Internet to bring digital opportunity to every corner of the earth," said John Chambers, Cisco president and chief executive officer. "By including these countries in our program we will show that the Internet and education are truly the two great equalizers in life for countries, companies, and individuals."

The project in the LDCs will provide students in those countries with the same educational opportunity that students taking the class elsewhere in the world receive. In addition, the program will enable businesses and governments in these traditionally disadvantaged economies to compete in the global Internet Economy. Bringing the Internet to these countries and managing the infrastructure with trained, skilled workers is essential in today's increasingly global economy.

Cisco believes that this program can offer sustainable development in the LDCs and accelerate their progression and full integration into the world economy.

Cisco will work with current strategic partners United Nations Development Program (UNDP) and United States Agency for International Development's Leland Initiative to extend the Networking Academy program to 24 LDCs. With this initiative, Cisco will partner for the first time with the Peace Corps and the United Nations Secretary General's new initiative UniteS and the United Nations Volunteers to help implement the project.

This partnership is an example of how business and government can work together to promote digital opportunity. The expertise and knowledge of these established development organizations are critical to the success of Cisco's extension of its Networking Academy program to LDCs.

The Cisco Networking Academy Program is a 280-hour curriculum designed by Cisco and delivered in more than 4,400 locations around the world, including all 50 United States and 74 countries - in 9 languages. Currently, there are more than 81,000 students enrolled in the Networking Academy program, with that number expected to grow to 160,000 next year. Cisco launched the program in October of 1997. More information is available at www.cisco.com/edu/academies.