Press Release: April 4, 2000

WR Hambrecht + Co Reiterates Strong Buy Rating For Efficient Networks (EFNT), Increases Price Target To $175

Strong DSL service rollouts and increased revenue projections

San Francisco, CA, April 4, 2000—WR Hambrecht + Co today reiterated its Strong Buy rating for Efficient Networks (EFNT) and increased its price target from $125 to $175. eNetwork Infrastructure analyst Tim Savageaux cited increased revenue estimates for Efficient Networks and a positive new customer development outlook as reasons for the upgrades . WR Hambrecht + Co offers all its research reports free and real-time at www.wrhambrecht.com.

"We are reiterating our strong buy rating on the shares of Efficient Networks and raising our price target to $175 noting the extraordinary price weakness that we believe to be associated with a three million share lock up release. This was compounded by an eight percent slide in the NASDAQ and potential concerns over a competitive product announcement. We believe the net result is a fantastic buying opportunity," Savageaux said.

Savageaux raised his revenue projections for Efficient Networks from $123.3 million to $151.6 million for fiscal 2000 and from $297.6 million to $429.4 million for fiscal 2001.

Efficient Networks, Inc. is a worldwide developer and supplier of high-speed digital subscriber line customer premises equipment (CPE) for the broadband access market.