Ikanos Communications Repurchases One Million Shares

FREMONT, Calif., May 23 /PRNewswire-FirstCall/ -- Ikanos Communications, Inc. (NASDAQ:IKAN), a leading provider of advanced broadband solutions for the digital home, today announced that it has purchased one million shares of its common stock from an institutional investor for $3.15 per share. This private transaction was executed as part of the Company's repurchase program announced on April 24, 2008 and resulted in reducing the Company's outstanding shares of common stock by approximately 3.4%.

About Ikanos Communications, Inc. Ikanos Communications, Inc. (NASDAQ:IKAN) is a leading provider of advanced broadband solutions for the digital home. The company's multi-mode VDSL2/ADSLx, network processor and other products power the access infrastructure and customer premises equipment for many of the world's leading network equipment manufacturers and telecommunications service providers. For more information, visit http://www.ikanos.com/.

(C) 2008 Ikanos Communications, Inc. All Rights Reserved. Ikanos Communications, Ikanos, the Ikanos logo, Ikanos Programmable Operating System, Arion, CleverConnect, Eagle, Fiber Fast, Fusiv, Fx, FxS, LoopNostics, Maximus, Palladia, RRA, SmartLeap and VLR are among the trademarks or registered trademarks of Ikanos.

First Call Analyst:
FCMN Contact: mwestfall@ikanos.com

Source: Ikanos Communications, Inc.

CONTACT: investor relations, Bonnie Mott, +1-510-438-5360,
bmott@ikanos.com, or media relations, Margo Westfall, +1-510-438-6276,
mwestfall@ikanos.com, both of Ikanos Communications

Web site: http://www.ikanos.com/

2008-05-23 18:27:36 0369956 PRNEWSWIRE