Lionbridge Technologies, Inc. Files Registration Statement for Public Offering of Common Stock

WALTHAM, Mass. — July 1, 2003 — Lionbridge Technologies, Inc. (Nasdaq: LIOX), a leading provider of globalization and testing services, today announced the filing of a registration statement with the Securities and Exchange Commission for a proposed public offering of 7,000,000 newly issued shares of its common stock. All 7,000,000 shares are being offered by Lionbridge. The registration statement also covers the underwriters' option to purchase up to 790,000 additional shares of common stock from the Company and up to 260,000 shares to be offered by certain stockholders to cover over-allotments, if any.

Lionbridge intends to use the net proceeds from the offering to accelerate debt repayment, which will reduce the Company's interest-related expenses, and for working capital, possible acquisitions of related businesses or technologies and other general corporate purposes.

Friedman, Billings, Ramsey & Co., Inc. (NYSE: FBR) will act as the lead manager of the offering.

When available, copies of the preliminary prospectus may be obtained from Friedman, Billings, Ramsey & Co., Inc. at Potomac Tower, 1001 19th St. North, Arlington, VA 22209. The registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Lionbridge
Lionbridge Technologies, Inc. is a leading provider of globalization and testing services that enable Global 2000 organizations to confidently and cost effectively deliver products and content worldwide. Lionbridge leverages its global infrastructure and advanced language technologies to provide multilingual content management, localization, testing and development services that speed adoption, increase utilization and reduce maintenance costs of global applications and content. Based in Waltham, Mass., Lionbridge maintains facilities in Ireland, The Netherlands, France, Germany, China, South Korea, Japan, Brazil, and the United States and provides services under the Lionbridge and VeriTest brands. To learn more, visit www.lionbridge.com.