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</FONT><B><FONT SIZE=4><P ALIGN="CENTER">JDS Uniphase and E-TEK Dynamics Agree
to $15 Billion Merger</P>
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<B><P ALIGN="JUSTIFY">San Jose, Calif., and Nepean, Ontario, January 17, 2000
</B>- JDS Uniphase Corporation (NASDAQ: JDSU; TSE: JDU) and E-TEK Dynamics Inc.
(NASDAQ: ETEK) announced today the signing of a definitive merger agreement
valued at approximately $15 billion based on January 14, 2000 closing stock
prices.</P>
<P ALIGN="JUSTIFY">The merger agreement provides for the exchange of 1.1 shares
of JDS Uniphase common stock for each common share of E-TEK.  Completion of the
transaction is subject to customary closing conditions, including an E-TEK
stockholders' vote and regulatory approvals.  Following completion of the
transaction, E-TEK will operate as a wholly-owned subsidiary of JDS Uniphase.
</P>
<P ALIGN="JUSTIFY">The companies are proposing to merge in response to
unprecedented growth in the telecommunications industry today.  As a result of
the explosive demand for bandwidth, service providers have accelerated
deployment of fiberoptic systems in their networks.  To meet these aggressive
deployment plans, systems manufacturers are looking both internally and to
merchant optical component and module suppliers to expand production, shorten
development cycles and provide new products and functionalities.  </P>
<P ALIGN="JUSTIFY">The merger brings together the complementary strengths of JDS
Uniphase and E-TEK Dynamics and is expected to enable a more rapid scaling of
operations bringing greater volume and a broader range of products to customers
faster.  One of the many expected benefits of the merger will be the combination
of E-TEK's packaging technology and capacity with JDS Uniphase's optical filter
capability and supply which was enhanced by its pending merger with OCLI. </P>
<P ALIGN="JUSTIFY">In addition to the merger, the companies also announced the
signing of a mutual supply agreement in order to immediately increase the supply
of certain of the companies' products to customers.</P>
<P ALIGN="JUSTIFY">Kevin Kalkhoven, JDS Uniphase Co-Chairman and CEO stated,
&quot;We are very pleased to be joining E-TEK with JDS Uniphase.  As a combined
entity, we expect to have deeper resources to continue our strategy of expanding
our scale and scope to enable the industry to fulfill the optical promise of
unlimited bandwidth.&quot; </P>
<P ALIGN="JUSTIFY">Michael Fitzpatrick, E-TEK Chairman, President and CEO added,
&quot;We are very excited about the merger of our two companies.  By joining
together, we believe we will eliminate inefficiencies in the supply chain,
allowing us to deliver more products to our customers.  In doing so, we hope to
catalyze the evolution of optical networking.&quot;</P>
<P ALIGN="JUSTIFY">Jozef Straus, JDS Uniphase, Co-Chairman, President and COO
commented, &quot;Today's announcement marks the beginning of a great partnership
between two companies with a common passion for optical networking. We strongly
believe that our combined manufacturing capacity and product innovation
capability will strengthen our ability to meet and exceed our customer
expectations.&quot;</P>
<P ALIGN="JUSTIFY">E-TEK has approximately 2,450 employees and reported revenues
of $72.5 million in its second quarter ended January 1, 2000.  JDS Uniphase has
over 8,200 employees and reported sales of $230.1 million in its first quarter
ended September 30, 1999. </P>
<P ALIGN="JUSTIFY">E-TEK Dynamics, Inc., headquartered in San Jose, Calif., is a
leader in the design and manufacturing of high quality passive components and
modules for fiberoptic systems. E-TEK's wavelength division multiplexers
("WDMs") are designed to increase the bandwidth capacity of new and existing
fiberoptic networks. Other E-TEK components, including isolators, couplers and
integrated optics, are important in enabling optical communications systems.
These products are utilized in terrestrial and submarine long-haul fiberoptic
networks as well as in emerging short-haul applications, such as metropolitan
area networks. More information on E-TEK is available at www.e-tek.com. </P>
<P ALIGN="JUSTIFY">JDS Uniphase, headquartered in San Jose, Calif., and Nepean,
Ontario, is a high technology company that designs, develops, manufactures and
distributes a comprehensive range of products for the growing fiberoptic
communications market. These products are deployed by system manufacturers
worldwide to develop advanced optical networks for the telecommunications and
cable television industries. JDS Uniphase Corporation is traded on the Nasdaq
National Market under the symbol JDSU and the exchangeable shares of JDS
Uniphase Canada Ltd. are traded on The Toronto Stock Exchange under the symbol
JDU. More information on JDS Uniphase is available at "http://www.jdsunph.com/".</P>

<P ALIGN="JUSTIFY">The statements contained in this press release that are not
purely historical are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934.
These statements may be identified by their use of forward-looking terminology
such as &quot;believes&quot; and &quot;expects&quot; and similar words. Such
forward-looking statements include, but are not limited to, statements regarding
the expected benefits of the merger, the expectation that the combined entity
will have deeper resources, and the belief that the merger will strengthen E-
TEK's ability to deliver more products to its customers.  Such forward-looking
statements involve risks and uncertainties that could cause actual results to
differ materially from those projected for both companies. Risks and
uncertainties that could cause actual results to differ materially from such
forward-looking statements include, but are not limited to, factors discussed
from time to time in reports filed by JDS Uniphase Corporation and E-TEK
Dynamics with the Securities and Exchange Commission. The forward-looking
statements contained in this news release are made as of the date hereof and JDS
Uniphase Corporation and E-TEK Dynamics do not assume any obligation to update
the reasons why actual results could differ materially from those projected in
the forward-looking statements.</P>
<P ALIGN="JUSTIFY"></P>
<B><P>For More Information, Please Contact:</P>
</B><FONT SIZE=3><P>Kevin N. Kalkhoven, Co-Chairman and CEO, JDS Uniphase, 408-
434-1800</P>
<P>Anthony R. Muller, Senior Vice President and CFO, JDS Uniphase, 408-434-
1800</P>
<P>Alison Reynders, Investor Relations Manager, E-TEK Dynamics, 408-546-4608</P>
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<P ALIGN="JUSTIFY">&nbsp;</P>



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