CORRECTING and REPLACING IPC Partners with Cisco, Avaya and Nortel to Unify Communications on the Trading Floor with the Nexus Suite

Please replace the release with the following corrected version due to multiple revisions. The corrected release reads: IPC PARTNERS WITH CISCO, AVAYA AND NORTEL TO UNIFY COMMUNICATIONS ON THE TRADING FLOOR WITH THE NEXUS SUITE Industry heavyweights team up to deliver evolutionary technology with revolutionary benefits IPC Systems, Inc. today officially announced its collaboration with Cisco, Avaya and Nortel in the development of its SIP-based Nexus Suite, an open, flexible, end-to-end communications platform for the trading floor that unifies communications technology in real time. Today’s trading environment is global, faster and more complex then ever. In order to maximize productivity, IPC recognized the need for seamless interoperation with various enterprise communication companies to give its customers a competitive edge. By teaming with industry experts Cisco, Avaya and Nortel, IPC is delivering a sophisticated innovation that brings true unified communications to today’s trading floor. IPC teamed with Cisco to integrate the Nexus Suite with Cisco Unified Communications Manager as a critical component of Cisco’s High-Performance Trading solution portfolio. This not only creates a collaborative environment on and off the trading floor, but also enables a more efficient workflow with a rich interface to external clients and third parties. "Optimizing trader effectiveness and partnering to develop the next generation trader environment are important areas of focus within our High Performance Trading solution portfolio,” said Paul Jameson, Cisco Global Director of Financial Services Industry Solutions. "By leveraging the resources and capabilities of an industry leader like IPC, we are able to deliver more sophisticated, robust solutions to our diverse client base within financial markets around the globe.” IPC worked closely with Avaya’s financial services industry solutions team to ensure that the SIP-based integration of Nexus Suite with Avaya Communication Manager enables efficient collaboration options between the different individuals who support the trade process workflow. Tony Kleckner, Financial Services Practice Leader for Avaya said, "We are delighted to be working with IPC to bring the Nexus Suite to the trading community. Together we’re helping to extend the reach of traders, enabling them to trade continuously in order to provide excellent client service, maximize sales opportunities, generate increased revenue and gain competitive advantage.” Nortel and IPC’s collaboration meets demand in the financial sector for greater electronic trading which is not restricted to traditional interfaces and locations. Integration between the Nortel Communication Server1000 platform and IPC portfolio offers more flexibility in where a trader can be located, single button counterparty access and presence status across multiple devices. "You’ll find Nortel behind the world’s largest and most important stock exchanges, and financial institutions supporting billions of transactions in New York, London, Australia, Sao Paulo, Buenos Aires, Hong Kong, Bombay and Seoul. The new collaboration between IPC and Nortel will further enhance our ability to serve these and other global financial services clients,” said Matt Konwiser, Leader, Business Solutions Vertical Market Development, Nortel. "We are able to significantly improve trading productivity in the back office, provide flexible work anywhere capabilities and significantly reduce the cost of disaster recovery execution. Our 15 years of working with IPC continues with the introduction of this new suite of solutions designed specifically for making it easier to do business in the modern trading environment.” Michael Speranza, Vice President, Product Management of IPC added, "We are pleased to be working with our partners to utilize open standards and unify communications on the trading floor. Through this collaboration and our Nexus Suite, we are making the best use of open standards such as SIP, and this is merely the foundation of the integration we are now able to offer. We’re helping traders think differently about the trading floor, how they service their clients and what they can expect from their tools.” Introduced by IPC in October, 2007, Nexus Suite breaks down traditional technological barriers within a trading organization, allowing traders to collaborate with peers, counterparties and back-office personnel by seamlessly switching back-and-forth from one application to another. By streamlining communications, traders are able to deliver consistent customer service to clients and counterparties and can increase productivity through direct contact with the middle and back offices. As a result, traders have constant access to liquidity and are able to offer an enhanced trader-client relationship. About IPC IPC is a leading provider of indispensable communications solutions to global enterprises. With more than 30 years of expertise, IPC provides its systems and services to the world’s largest financial services firms, as well as to public safety; government; power, energy and utility; and transportation organizations. IPC offers its customers a suite of products and enhanced services that includes advanced Voice over IP technology, and integrated network and management services to over 40 countries. Based in Jersey City, N.J., IPC has more than 1,400 employees throughout the Americas, Europe and the Asia Pacific regions. For more information, visit www.ipc.com. About Avaya Avaya delivers Intelligent Communications solutions that help companies transform their businesses to achieve marketplace advantage. More than 1 million businesses worldwide, including more than 90 percent of the FORTUNE 500®, use Avaya solutions for IP Telephony, Unified Communications, Contact Centres and Communications-Enabled Business Processes. Avaya Global Services provides comprehensive service and support for companies, small to large. For more information visit the Avaya Web site: http://www.avaya.com. For more information on the Avaya DevConnect Program, visit www.avaya.com/devconnect. About Nortel Nortel is a recognized leader in delivering communications capabilities that make the promise of Business Made Simple a reality for our customers. Our next-generation technologies, for both service provider and enterprise networks, support multimedia and business-critical applications. Nortel's technologies are designed to help eliminate today's barriers to efficiency, speed and performance by simplifying networks and connecting people to the information they need, when they need it. Nortel does business in more than 150 countries around the world. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit www.nortel.com/news. Statements made in this news release that state IPC’s or its management’s intentions, beliefs, expectations, or predictions for the future constitute "forward looking statements” as defined by federal securities laws, which involve significant risks and uncertainties. Many risks and uncertainties are inherent in the telecommunications equipment industry. Others are more specific to our operations. The occurrence of the events described and the achievement of the expected results depend on many factors, some or all of which are not predictable or within our control. Actual results may differ materially from results discussed in these forward-looking statements. Among the factors that could cause actual results, performance or achievement to differ materially from those described or implied in the forward-looking statements, are risks associated with substantial indebtedness, leverage and debt service, risks relating to the performance of our business and future operating results, risks of competition in our existing and future markets, loss or retirement of key executives, risks related to the notes and to high yield securities generally, general business and economic conditions, market acceptance issues, including potential technology changes and the risks inherent in new product and service introductions and the entry into new geographic markets, as well as those risk factors described in our filings with the SEC. ©2008 IPC Systems, Inc. All Rights Reserved. IPC, IQMX, IQ/MAX and ICMX are trademarks of IPC. All other trademarks are the property of their respective owners.