Document:

SUBORDINATED PARTICIPATION AGREEMENT

                  This Subordinated Participation Agreement (this "Agreement")
is made as of the 28th day of June, 2002, between LASALLE BANK NATIONAL
ASSOCIATION, a national banking association ("LaSalle"), and by the undersigned
parties collectively identified as "Participants" (each a "Participant" and
collectively, the "Participants"). LaSalle has made or has agreed to make loans
and other extensions of credit to Westell Technologies, Inc., Westell, Inc.,
Westell International, Inc., Conference Plus, Inc., and Teltrend LLC
(collectively, the "Borrowers") pursuant to that certain Amended and Restated
Loan and Security Agreement by and between LaSalle and the Borrowers dated
August 31, 2000, as the same has been or may hereafter be amended, restated,
supplemented or otherwise modified from time to time (the "Loan Agreement").
Capitalized terms used herein and not otherwise defined herein shall have the
meanings ascribed to such terms in the Loan Agreement.

                  In consideration of the payment on the date hereof by the
Participants to LaSalle of the aggregate amount of $5,000,000 (the "Purchase
Price") in immediately available United States funds, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties, LaSalle hereby sells to each of the Participants,
and each of the Participant hereby purchases from LaSalle, without recourse to
LaSalle, on the terms and conditions hereinafter set forth, a subordinated
last-out participation interest in (a) the Term Loan made by LaSalle to the
Borrowers, (b) all rights, claims (including "claims" within the meaning of
Section 101(5) of the Bankruptcy Code) and causes of action of LaSalle against
the Borrowers and any other Person that arise under, from, in, to or in
connection with the Loan Agreement and the Loan Documents, to the extent
attributable in whole or in part to the Term Loan, and (c) the collateral for
and guarantees of the Term Loan (each such interest (expressed as a percentage
interest) being herein called the "Participation Interest"); provided, that the
maximum aggregate principal amount of all Participants' Participation Interests
in the Term Loan shall not exceed $5,000,000. Notwithstanding anything to the
contrary in this Participation Agreement, no Participant shall have any interest
in any of the fees or other amounts payable by Borrowers to LaSalle,
individually or as Agent, under the Loan Documents, other than reimbursements
for amounts paid by the Participants pursuant to this Agreement for which the
Borrower is otherwise liable under the Loan Documents.

                  1. The parties hereto acknowledge and agree that it is their
intent that the Participation Interests of the Participants be subordinated,
"last-out" participation interests meaning, among other things, that no
Participant shall have any right (x) to receive any payment of principal in
respect of their Participation Interests in the Term Loan while LaSalle
(including any other participant(s) or assignees of LaSalle's) has any Loans
outstanding to, undrawn Letters of Credit issued for the account of, or
unreimbursed Letter of Credit drawings or other Obligations owing to it by, the
Borrowers or (y) to receive any payment of interest in respect of their
Participation Interests in the Term Loan unless and until LaSalle (including any
other participant(s) of LaSalle's) shall have received payment in full of all
interest Obligations then due and payable to it by the Borrowers under the Loan
Documents. Each Participant hereunder shall be jointly and severally liable for
all obligations and undertakings of each other Participant hereunder. The
Participation Interests of each Participant are as set forth on Schedule I
attached hereto (as the same may be amended pursuant to Section 12 below).

<PAGE>

                  2. Except as otherwise provided herein, all payments received
by LaSalle pursuant to the Loan Documents or otherwise (including without
limitation, any amounts received by way of set-off, banker's lien, counterclaim,
realization on collateral or otherwise) may be applied to any outstanding
Obligations in such order as LaSalle, in its discretion, deems appropriate, and
each Participant hereby acknowledges and agrees that LaSalle, in exercising that
discretion, may allocate any or all such amounts to any such Obligations
(including post-petition interest, whether or not allowed in a bankruptcy
proceeding of any of the Borrowers) other than (and prior to) those in which
such Participant has an interest. LaSalle shall be entitled to withhold and
apply any payment or property to be paid or delivered to the Participants
hereunder against any amounts payable by the Participants to LaSalle under this
Agreement.

                  (a) Notwithstanding the foregoing, if LaSalle receives any
         payment of interest in respect of the Loans from the Borrower or
         reimbursement of amounts paid by the Participants pursuant to this
         Agreement (other than Purchase Price), then upon the payment to LaSalle
         and its participants and assignees (other than the Participants) of all
         amounts of interest or reimbursement amounts then due and owing to them
         under the Loan Documents, LaSalle hereby agrees it shall remit to the
         Participants such remaining portion of such payment as shall then be
         required to pay accrued but unpaid interest or reimbursement amounts,
         as applicable, owing to the Participants hereunder within three (3)
         Business Days after LaSalle's receipt of collected and immediately
         available funds therefor from the Borrowers;

                  (b) Subject to the limitation in Section 1(x) above, upon the
         receipt by LaSalle and its participants and assignees (other than the
         Participants) of payment in full of all of the outstanding Obligations
         under the Loan Documents, any further principal amounts remitted to
         LaSalle with respect to the Term Loan shall be remitted to the
         Participants within three (3) Business Days after LaSalle's receipt of
         collected and available funds therefor.

                  3. All payments required to be made by LaSalle to the
Participants, and all communications by LaSalle to any of the Participants,
shall be sent to such Participants to such account and/or such address as shall
be specified by such person from time to time on reasonable advance written
notice delivered to LaSalle (the initial accounts and addresses being set forth
on Schedule I hereto). Notwithstanding LaSalle's agreement to make such
distributions as aforesaid, each of the Participant's hereby agrees (i) that
LaSalle shall have no liability (including for payment of interest pursuant to
Section 12 below) for the improper allocation as between Participants of any
payment made by LaSalle hereunder, (ii) the Participants shall be liable as
among themselves for all adjustments of any improperly allocated distribution to
any one or more Participants and (iii) to jointly and severally indemnify,
defend and hold harmless LaSalle, its employees, directors, officers and agents
for any losses, costs, fees, expenses (including without limitation, reasonable
attorneys' fees and court costs), damages, claims, suits or actions arising out
of or related to the allocation of, or failure of any other Participant to make
any corrective adjustment with respect to, any payment made by LaSalle
hereunder.

                  4. All payments with respect to the Obligations (including,
without limitation, any payment by way of set-off, banker's lien, counterclaim,
realization on collateral or otherwise) received by any Participant at any time

                                       2

<PAGE>

from any source other than LaSalle shall be promptly, but in any event within
three (3) Business Days thereafter, paid over by the Participants to LaSalle for
application in accordance with the Loan Documents and this Agreement.

                  5. If any payment received by LaSalle and forwarded to the
Participants pursuant to this Agreement is rescinded or must otherwise be
returned for any reason, the Participants jointly and severally hereby agree to
return or pay over to LaSalle the aggregate portion of such payment or amount
previously remitted to the Participants, together with the Participants'
proportionate share of all interest payable by LaSalle in connection therewith
(as such amount and such share of such payment and interest shall be calculated
by LaSalle, which calculation shall be deemed conclusively correct absent
manifest or demonstrable error).

                  6. If LaSalle (a) incurs any cost, fee, expense or
disbursement (including reasonable fees and disbursements of counsel) in
connection with or attributable in whole or in part to the Term Loan or the Loan
Agreement or any of the other Loan Documents in connection therewith or (b)
incurs any expense which it deems necessary or desirable to protect the rights
of LaSalle, the Participants or the Collateral therefor or which otherwise
arises in connection with the enforcement of the Term Loan, then, to the extent
LaSalle is not reimbursed by the Borrowers for such cost, fee, disbursement or
expense, the Participants jointly and severally hereby agree to pay to LaSalle
promptly upon receipt of notice thereof, but in any event within five (5) days
thereafter, an amount equal to the Participants' allocable share of each such
amount so incurred or suffered (as such amounts and such shares shall be
calculated by LaSalle, which calculation shall be deemed conclusively correct
absent manifest or demonstrable error).

                  7. This Agreement shall be in full force and effect until the
earliest of (i) the date on which LaSalle gives the Participants written notice
that all Obligations have been fully and indefeasibly satisfied in full in cash
and the Loan Agreement has been terminated, (ii) the date on which all
Obligations attributable to the Participation Interests have been fully and
indefeasibly satisfied in full in cash and all obligations of the Participants
to LaSalle hereunder have been satisfied in full in cash, or (iii) such other
date as the Participants and LaSalle shall agree in writing.

                  8. LaSalle will exercise the same care and attention with
respect to the administration of the Term Loan as LaSalle gives to its other
credit transactions in which no participations are sold. LaSalle may use its
sole discretion with respect to exercising or refraining from exercising its
rights or taking or refraining from taking any actions which may be vested in
LaSalle or which LaSalle may be entitled to take or assert under or with respect
to the Term Loan, any other Loan, the Loan Agreement or any other Loan Document
(including, without limitation, the release of any liens on collateral securing
the Term Loan or any other Loan and/or the release of any guarantors of the Term
Loan or any other Loan), and LaSalle shall not be liable to any Participant with
respect to anything that LaSalle may do or refrain from doing in the exercise of
its business judgment, in the absence of its own gross negligence or willful
misconduct. LaSalle shall have no obligation to make any claim or assert any
lien upon, or assert any right of setoff with respect to, any property held by
LaSalle, whether or not such property constitutes Collateral for any of the Term
Loan. LaSalle may, in its sole discretion, without prior notice to the

                                       3

<PAGE>

Participants and without any consent or other action by the Participants, grant
any waiver or consent under or with respect to the Loan Agreement, any other
Loan Document and/or the Term Loan or agree to any amendment of the Loan
Agreement or any other Loan Document, including, without limitation, entering
into any amendment extending the final maturity date of the Loans, increasing or
decreasing the rate of interest on any of the Loans or amending, modifying or
waiving any other provision or default under the Loan Agreement or the other
Loan Documents. Without limiting the foregoing, LaSalle shall have the exclusive
right, in LaSalle's name alone, to carry out the provisions of the Loan
Agreement and the other Loan Documents, to enforce and collect the Obligations,
to exercise and enforce all rights and privileges granted to LaSalle under the
Loan Agreement and the other Loan Documents, to take or refrain from taking
legal action to enforce or protect Participants' and/or LaSalle's interests with
respect to the Loan Agreement, the other Loan Documents, the Collateral and the
Obligations, to consent to the use by Borrowers of cash collateral under ss. 363
of the Bankruptcy Code in any bankruptcy case of Borrowers, and to extend
postpetition financing to Borrowers under ss. 364 of the Bankruptcy Code in any
bankruptcy case of such Borrowers. No Participant shall have or seek to exercise
any right of legal or equitable redress against Borrowers. No Participant shall
have any voting rights or consent or approval rights under the Loan Agreement or
the other Loan Documents. LaSalle may rely upon the advice of counsel concerning
legal matters and upon any written communication or any telephone conversation
which LaSalle believes to be genuine and correct or to have been signed, sent or
made by the proper person and LaSalle shall not be required to make any inquiry
concerning the performance by the Borrowers or any other person of any of their
respective obligations and liabilities under or in respect of the Loan Agreement
or any other Loan Document. LaSalle shall not be deemed a trustee, partner or
fiduciary for any Participant in connection with the Participation nor shall
LaSalle have any duties to any Participant except as expressly set forth in this
Agreement.

                  9. If LaSalle is sued or threatened with any suit, claim or
action in any bankruptcy or other insolvency proceeding involving Borrowers (i)
on account of any alleged preferential or fraudulent transfer received or
alleged to have been received, directly or indirectly, from Borrowers or any
other Person, which is attributable in whole or in part to the existence of
Participants' subordinated Participation Interests, or (ii) relating to the
equitable subordination of the Term Loan Obligations or the recharacterization
of any of the Term Loan Obligations as equity, which is attributable in whole or
in part to the existence of Participants' subordinated Participation Interests,
then each Participant hereby jointly and severally hereby agrees to indemnify,
defend and hold LaSalle harmless from any liability arising from such suit,
claim or action, including, without limitation, from all expenses, costs and
reasonable attorneys' fees paid or incurred, or payments made by LaSalle, in
connection therewith. To the extent that any amounts previously paid in respect
of the Obligations are recovered from LaSalle, such amounts shall be reinstated
as part of the Obligations, repayable in accordance with the priorities
established herein.

                  10. LaSalle may accept deposits from, make loans or otherwise
extend credit to, take deposits from and generally engage in any kind of banking
or trust business with, the Borrowers or any other person, receive security for
such loans or extensions of credit, and receive payment on such loans or
extensions of credit and otherwise act with respect thereto freely and without
accountability, as if this Agreement were not in effect. Unless and until the

                                       4

<PAGE>

Term Loan has been assigned to the Participants by LaSalle pursuant to Section
11 below, no Participant shall have any right to exercise any right, claim or
action against any of the Borrowers or their property (including any right of
set-off or counterclaim) with respect to any of the Obligations or against any
of the collateral for any of the Obligations. LaSalle shall maintain records
with respect to the aggregate Participation Interests and this Agreement. All
sums received and payments made or deemed made by LaSalle in connection with the
Term Loan and the Participation Interests will be clearly and fully accounted
for on LaSalle's records in a manner which reflects the Participants' respective
interest therein. If any Participant shall at any time request an accounting,
LaSalle shall furnish a written accounting thereto as soon as practicable (but
in no event more than once in any 60 day period for any Participant).

                  11. Each Participant acknowledges and agrees that:

                           (a) It has adequate information concerning the
                      business and financial condition of the Borrowers to make
                      an informed decision regarding the purchase of its
                      Participation Interest and has independently and without
                      reliance upon LaSalle and based on such information as
                      such Participant has deemed appropriate, made its own
                      analysis and decision to enter into this Agreement, except
                      that such Participant has relied upon the representations,
                      warranties, agreements and covenants of LaSalle expressly
                      provided in this Agreement. Such Participant shall
                      continue to make its own analysis and decisions with
                      respect to its Participation Interest without reliance
                      upon LaSalle;

                           (b) It has received and reviewed each of the Loan
                      Documents to the extent deemed necessary or advisable by
                      such Participant;

                           (c) Except as set forth in Section 14 below, LaSalle
                      has not made and shall not at any time be deemed to make
                      any representation or warranty, express or implied, with
                      respect to (i) the due execution, authenticity, legality,
                      accuracy, completeness, validity or enforceability of any
                      of the Loan Documents, (ii) the financial condition,
                      solvency or creditworthiness of the Borrowers or any other
                      entity which may have liability for the Term Loan or the
                      collectibility of the Term Loan, (iii) the validity,
                      perfection, enforceability, value or sufficiency of, or
                      title to any security for the Term Loan, or the filing, or
                      recording or taking of any other actions with respect to
                      the Loan Documents, or the security for the Term Loan, or
                      (iv) any other matter having any relation to this
                      participation, the Term Loan, the Collateral or the Loan
                      Documents; and

                           (d) LaSalle may, but shall have no obligation to,
                      furnish any information relating to the Borrowers, the
                      Term Loan, the Collateral or otherwise to any Participant,
                      except as expressly otherwise provided herein; it being
                      agreed, however, that if and to the extent LaSalle does in
                      fact provide any such information to any Participant,
                      LaSalle shall have no ongoing obligation to provide any

                                       5

<PAGE>

                      similar or additional information in the future or to
                      update any such information so provided.

Upon the repayment in full of the Obligations other than the Participant's
Participation Interest, LaSalle shall have the right (but not the obligation) to
transfer and assign to the Participants, and the Participants jointly and
severally agree to accept such transfer and assignment of, all of LaSalle's
right, title and interest in and to the Term Loan (provided that no additional
consideration for such transfer and assignment shall be required hereunder),
without recourse, representation or warranty. The obligation of the Participants
to accept such transfer and assignment as aforesaid shall be unconditional and
irrevocable, notwithstanding any change of circumstances, including (a) any
modification or amendment of, or any consent, waiver, release or forbearance
with respect to, any of the terms of the Loan Agreement or any of the Loan
Documents; (b) any other act or omission to act on the part of LaSalle or on the
part of any of the Borrowers or any other person; (c) the existence of any
Default or Event of Default under the Loan Agreement or any default under any of
the other Loan Documents; or (d) any change of any kind in the financial
position or creditworthiness of the Borrowers or any other Person.

                  12. If any payment hereunder is not paid by either party to
the other when due hereunder (other than any payment otherwise properly made but
misallocated by LaSalle as among the Participants as provided in Section 3
above), then interest shall accrue, and be payable immediately, on all such
amounts not paid at a per annum rate equal to the average Federal Funds Rate
during the period in question as published daily by the Federal Reserve Bank of
New York. For the purposes of this Section 12, the "Federal Funds Rate" shall
mean, for any date, the weighted average (rounded upwards, if necessary, to the
next 1/100 of 1%) of the rates set by the Federal Reserve Bank of New York on
overnight federal funds transactions with members of the Federal Reserve System
arranged by federal funds brokers, as published on the next succeeding business
day in The Wall Street Journal (Eastern Edition), or, if such rate is not so
published for any day that is a Business Day, the average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the quotations for such day for such
transaction received by LaSalle from three federal funds brokers of recognized
standing selected by LaSalle. For a day that is not a Business Day, the Federal
Funds Rate shall be the rate applicable to federal funds transactions on the
immediately preceding day for which such rate is reported.

                  13. Each Participant hereby agrees that it will not sell or
otherwise dispose of any portion of its Participation Interest or grant any
sub-participation therein without the prior written consent of LaSalle, provided
that upon prior written notice to LaSalle, any Participant shall be permitted to
transfer any Participation Interest to another Participant, and in any event,
upon any such transfer, the affected Participants shall promptly deliver a
revised Schedule I to this Agreement to LaSalle setting forth any revisions
thereto pursuant to such assignment. In the event of a sub-participation, the
applicable Participant shall not be relieved of any of its obligations to
LaSalle hereunder. Each Participant represents that it is acquiring the
Participation Interest for its own account and not with a view to, or for sale

                                       6

<PAGE>

in connection with, any distribution thereof and that it is an "accredited
investor" (as such term is defined in Rule 501 of Regulation D promulgated under
the Securities Act of 1933 (as amended).

                  14. LaSalle hereby represents and warrants to each Participant
on the date hereof, that LaSalle has good and marketable title to the
Participant Interests being conveyed hereunder and hereby transfers such
interests free and clear of any lien, claim or encumbrance in favor of any other
person or entity (other than any such person or entity asserting any lien, claim
or encumbrance through any Participant).

                  15. By its confirmation and acceptance of this Agreement, each
Participant represents that it is entitled to receive any payments to be made to
it hereunder without the withholding of any tax and that, upon LaSalle's
request, such Participant will furnish to LaSalle such certifications,
statements and other documents deemed necessary or appropriate by LaSalle to
evidence such Participant's exemption from the withholding of any tax imposed by
any applicable jurisdiction or to enable LaSalle to comply with any applicable
laws or regulations relating thereto.

                  16. All notices, requests, demands and other communications
hereunder shall be in writing and shall be deemed to have been given (a) if sent
by facsimile, upon confirmation of receipt (b) if sent by overnight courier
service, the next day, and (c) if sent by mail, the third day after being mailed
by certified mail, postage prepaid, return receipt requested, in any such case
addressed to either party at its address as follows or at such other address as
may hereafter be designated by notice as herein provided:

          If to LaSalle:                 LaSalle Bank National Association
                                         135 South LaSalle Street
                                         Chicago, Illinois  60674
                                         Attention: Ms. Stephanie Kline
                                         Facsimile:  312-904-6546

          If to any Participant:        To the address set forth on Schedule I

                  17. THIS AGREEMENT MAY NOT BE AMENDED EXCEPT IN WRITING SIGNED
BY LASALLE AND BY EACH AFFECTED PARTICIPANT, AND THE RESPECTIVE RIGHTS AND
OBLIGATIONS OF THE PARTIES HERETO SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF ILLINOIS. WITH RESPECT TO ANY DISPUTES
ARISING HEREUNDER, EACH PARTY HERETO HEREBY SUBMITS TO THE NON-EXCLUSIVE
JURISDICTION OF THE FEDERAL AND STATE COURTS LOCATED IN THE STATE OF ILLINOIS
AND WAIVES ANY OBJECTION IT MAY HAVE IN RESPECT OF SUCH DISPUTE ON THE GROUND OF
VENUE OR THAT ANY PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

                  18. This Agreement may be executed in any number of
counterparts and all of such counterparts shall together constitute one and the
same instrument.

                                       7

<PAGE>

                  19. In case any provision in or obligation under this
Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

                  20. This Agreement shall be binding upon, and shall inure to
the benefit of, the parties hereto and their respective successors and assigns.

                  If the foregoing correctly sets forth the understanding
between us, please indicate your confirmation thereof, and your acceptance of
this Agreement by signing and returning to us the enclosed copy of this
Agreement.

                                Very truly yours,

                                LASALLE BANK NATIONAL ASSOCIATION

                                By______________________________________________
                                Title___________________________________________

                                       8

<PAGE>

Confirmed and accepted as of the date first above written:

PARTICIPANTS:

Marlene D. Foskett Trust under agreement   The Marlene Diane Foskett Trust dated
Florence R. Penny Children's Trust dated   December 31, 1970
December 28, 1989

-----------------------------------
Melvin J. Simon, Trustee                   ________________________________
                                           Barbara J. Pruitt, Co-Trustee

                                           --------------------------------
                                           Florence R. Penny, Co-Trustee

                                           ---------------------------------
                                           Robert Clinton Penny III, Co-Trustee

Barbara J. McDonough Trust under agreement The Barbara J. McDonough Trust dated
Florence R. Penny Children's Trust dated   December 31, 1970
December 28, 1989

-----------------------------------
Melvin J. Simon, Trustee                   _________________________________
                                           Marlene D. Foskett, Co-Trustee

                                           --------------------------------
                                           Florence R. Penny, Co-Trustee

                                           --------------------------------
                                           Robert Clinton Penny III, Co-Trustee

Robert C. Penny III Trust under agreement  The Robert Clinton Penny Trust Number
Florence R. Penny Children's Trust dated   Two dated December 30, 1974
December 28, 1989

--------------------------------
Melvin J. Simon, Trustee                   ________________________________
                                           Marlene D. Foskett, Co-Trustee

                                           --------------------------------
                                           Florence R. Penny, Co-Trustee

                                           --------------------------------
                                           Barbara J. Pruitt, Co-Trustee

<PAGE>

Each of Borrowers hereby acknowledges and agrees that it shall constitute an
Event of Default under (and as such term is defined in) the Loan Agreement if at
any time the payment or priority provisions of this Agreement are held to be
unenforceable as against any Participant, or any Participant brings any suit or
action challenging the enforceability of the payment or priority provisions of
this Agreement or the undertakings of the Participants (or any of them)
hereunder.

BORROWERS:                         WESTELL TECHNOLOGIES, INC.

                                   By:      ____________________________________
                                   Title:   ____________________________________

                                   WESTELL, INC.

                                   By:      ____________________________________
                                   Title:   ____________________________________

                                   WESTELL INTERNATIONAL, INC.

                                   By:      ____________________________________
                                   Title:   ____________________________________

                                   CONFERENCE PLUS, INC.

                                   By:      ____________________________________
                                   Title:   ____________________________________

                                   TELTREND LLC

                                   By:      ____________________________________
                                   Title:   ____________________________________
                                   Address: 750 North Commons Drive
                                            Aurora, Illinois 60504

<PAGE>

                                   SCHEDULE I

              PERCENTAGE INTERESTS; NOTICE AND PAYMENT INFORMATION

PERCENTAGE INTERESTS
--------------------

<TABLE>
<CAPTION>
------------------------------------------------------------------------ ---------------------------------------------
                              Participant                                            Percentage Interest
                              -----------                                            -------------------
------------------------------------------------------------------------ ---------------------------------------------

   <S>                                                                                      <C>
   Marlene D. Foskett Trust under agreement Florence R. Penny                               18.00%
       Children's Trust dated December 28, 1989
------------------------------------------------------------------------ ---------------------------------------------
   Barbara J. McDonough Trust under agreement Florence R. Penny                             12.60%
       Children's Trust dated December 28, 1989
------------------------------------------------------------------------ ---------------------------------------------
   Robert C. Penny III Trust under agreement Florence R. Penny                              2.04%
       Children's Trust dated December 28, 1989
------------------------------------------------------------------------ ---------------------------------------------
   The Marlene Diane Foskett Trust dated December 31, 1970                                  15.34%
------------------------------------------------------------------------ ---------------------------------------------
   The Barbara J. McDonough Trust dated December 31, 1970                                   50.00%
------------------------------------------------------------------------ ---------------------------------------------
   The Robert Clinton Penny Trust Number Two dated December 30, 1974                        2.02%
------------------------------------------------------------------------ ---------------------------------------------

</TABLE>

NOTICE INFORMATION
------------------

For each Participant:                                c/o Melvin J. Simon
                                                     4343 Commerce Court
                                                     Suite 306
                                                     Lisle, Illinois 60532
                                                     Facsimile:  630-955-1159

PAYMENT INFORMATION
-------------------

<TABLE>
<CAPTION>
------------------------------------------------ ---------------------------------------------------------------------
                  Participant                                            Wiring Instructions
                  -----------                                            -------------------
------------------------------------------------ ---------------------------------------------------------------------

   <S>                                             <C>
   Marlene D. Foskett Trust under agreement        Bank of America
       Florence R. Penny Children's Trust          San Francisco, California
       dated December 28, 1989                     ABA #121000358
                                                   Robertson Stephens
                                                   Account #14993-01920
                                                   For Further Credit To Account #35072560
------------------------------------------------ ---------------------------------------------------------------------

<PAGE>

------------------------------------------------ ---------------------------------------------------------------------
                  Participant                                            Wiring Instructions
                  -----------                                            -------------------
------------------------------------------------ ---------------------------------------------------------------------
   Barbara J. McDonough Trust under agreement      Bank of America
       Florence R. Penny Children's Trust          San Francisco, California
       dated December 28, 1989                     ABA #121000358
                                                   Robertson Stephens
                                                   Account #14993-01920
                                                   For Further Credit To Account #35072610
------------------------------------------------ ---------------------------------------------------------------------
   Robert C. Penny III Trust under agreement       Bank of America
       Florence R. Penny Children's Trust          San Francisco, California
       dated December 28, 1989                     ABA #121000358
                                                   Robertson Stephens
                                                   Account #14993-01920
                                                   For Further Credit To Account #35072537
------------------------------------------------ ---------------------------------------------------------------------
   The Marlene Diane Foskett Trust dated           Bank of America
       December 31, 1970                           San Francisco, California
                                                   ABA #121000358
                                                   Robertson Stephens
                                                   Account #14993-01920
                                                   For Further Credit To Account #35083104
------------------------------------------------ ---------------------------------------------------------------------
   The Barbara J. McDonough Trust dated            Bank of America
       December 31, 1970                           San Francisco, California
                                                   ABA #121000358
                                                   Robertson Stephens
                                                   Account #14993-01920
                                                   For Further Credit To Account #35083179
------------------------------------------------ ---------------------------------------------------------------------
   The Robert Clinton Penny Trust Number Two       Bank of America
       dated December 30, 1974                     San Francisco, California
                                                   ABA #121000358
                                                   Robertson Stephens
                                                   Account #14993-01920
                                                   For Further Credit To Account #35083096
------------------------------------------------ ---------------------------------------------------------------------

</TABLE>SIXTH AMENDMENT TO AMENDED AND RESTATED
                     LOAN AND SECURITY AGREEMENT AND WAIVER

                  This SIXTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY
AGREEMENT AND WAIVER (this "Amendment and Waiver") is made as of June 28, 2002
among LaSalle Bank National Association, a national banking association,
individually (in such capacity, the "Lender") and as agent (in such capacity,
the "Agent"), Westell Technologies, Inc., a Delaware corporation
("Technologies"), Westell, Inc., an Illinois corporation ("Westell"), Westell
International, Inc., a Delaware corporation ("International"), Conference Plus,
Inc., a Delaware corporation ("CPI"), and Teltrend LLC, a Delaware limited
liability company and successor by merger to Teltrend, Inc. ("Teltrend," and
together with Technologies, Westell, International and CPI, being, collectively,
the "Borrowers").

                                   BACKGROUND
                                   ----------

                  A. The Agent, the Lender and the Borrowers are party to that
certain Amended and Restated Loan and Security Agreement dated as of August 31,
2000 (as the same has been and may hereafter be amended, restated, supplemented
or otherwise modified from time to time, the "Loan Agreement"), pursuant to
which the Lender has made and may hereafter make certain loans, advances and
other financial accommodations to the Borrowers and the Borrowers have granted
to the Agent, for the benefit of the Lender and any other lenders who from time
to time may become party to the Loan Agreement, a lien on and a security
interest in all of the Borrowers' real, personal and intellectual property.
Capitalized terms used but not defined herein shall have the meanings assigned
to them in the Loan Agreement.

                  B. The Borrowers and the Lenders are parties to a certain
Amended and Restated Revolving Note dated as of May 30, 2002 in the original
principal amount of $35,000,000 (the "Revolving Note").

                  C. Pursuant to the Loan Agreement, the Marlene D. Foskett
Trust under agreement Florence R. Penny Children's Trust dated December 28,
1989, The Marlene Diane Foskett Trust dated December 31, 1970, Barbara J.
McDonough Trust under agreement Florence R. Penny Children's Trust dated
December 28, 1989, The Barbara J. McDonough Trust dated December 31, 1970,
Robert C. Penny III Trust under agreement Florence R. Penny Children's Trust
dated December 28, 1989, and The Robert Clinton Penny Trust Number Two dated
December 30, 1974 (collectively, "Guarantors") executed a certain Guaranty (as
amended, the "Guaranty") and a certain Securities Pledge Agreement (as amended,
the "Pledge Agreement"), each dated as of June 29, 2001 and made in favor of
Agent on behalf of Lenders.

                  D. Borrowers have informed Agent that they desire to enter
this Amendment and Waiver to, among other things, (i) provide for a term loan,
(ii) reduce the maximum available Revolving Loan Facility, (iii) modify the
termination date of the revolving line of credit, (iv) terminate the Guaranty
and the Pledge Agreement, (v) grant waivers with respect to Borrowers'
non-compliance with certain covenants contained in the Loan Agreement, and (vi)
otherwise modify Borrowers' Obligations as provided herein.

<PAGE>

                  E. Agent is willing to so amend the Loan Agreement and grant
such waivers upon the terms and conditions set forth herein.

                  NOW, THEREFORE, in consideration of the premises and the
mutual promises herein contained, and intending to be legally bound hereby, the
parties hereto agree as follows:

         SECTION 1         AMENDMENTS TO LOAN AGREEMENT
                           ----------------------------

                  1.1 Section 1.1 of the Loan Agreement is hereby amended as
follows:

                  (a) The following definitions are hereby added thereto in the
proper alphabetical order:

                           "Geneva Property" means that parcel of land owned by
         Teltrend and located at the southwest corner of Averill Road and Kautz
         Road, Geneva, Illinois.

                           "Mortgage" means that certain Mortgage, Security
         Agreement, Assignment of Leases and Rents and Fixture Filing dated as
         of September 4, 2001 by Teltrend in favor of Agent, on behalf of
         Lenders, for the Geneva Property, as the same has been or may hereafter
         be amended, restated, supplemented or otherwise modified from time to
         time.

                           "Term Loan" shall mean the direct advance made by the
         Lender to the Borrowers in the form of a term loan under and pursuant
         to this Agreement, as set forth in Section 2.1(b) of this Agreement."

                           "Term Loan Commitment" shall mean with respect to all
         applicable Lenders, Five Million and 00/100 Dollars ($5,000,000.00),
         and with respect to any Lender shall mean the amount set forth next to
         its name on the signature pages hereto (or any amendment hereto) as its
         Term Loan Commitment."

                           "Term Loan Reserve" shall mean at any time the
         amount, if any, by which $5,000,000 exceeds the outstanding principal
         balance of the Term Loan.

                           "Term Note" shall have the meaning set forth in
Section 2.1(b) hereof."

                  (b) The following definitions are hereby amended and restated
in their entirety to read as follows:

                  "Borrowing Base" means, as at any date the amount thereof is
         determined and subject to the other terms of this Agreement, (a) the
         sum of (i) 85% of the face value of the Eligible Accounts, less
         unapplied cash and (ii) the lesser of (A) 30% of the value of the
         Eligible Inventory and (B) the Inventory Borrowing Cap, minus (b) the

                                       2

<PAGE>

         sum of the undrawn face amount of any Letters of Credit outstanding,
         unreimbursed draws with respect to Letters of Credit, and the aggregate
         outstanding amount of Borrowers' exposure under Permitted Swap
         Obligations as determined by Bank, minus (c) such other reserves as the
         Agent, at the direction of the Majority Lenders in their sole
         discretion, may establish from time to time by delivery of written
         notice thereof at least twenty (20) days prior to establishment of any
         such reserves."

                  "Commitments" shall mean collectively the Revolving Loan
         Commitments and the Term Loan Commitment.

                  "Loans" shall mean the collective reference to the Revolving
         Loans and the Term Loan.

                  "Maximum Revolving Credit Facility" means, at any time,
         $30,000,000.

                  "Notes" shall mean the Revolving Loan Notes and the Term Note.

                  "Pro Rata Share" shall mean, with respect to any Lender, a
         fraction (expressed as a percentage), the numerator of which is equal
         to the sum of (a) such Lender's Revolving Loan Commitment, plus (b)
         such Lender's Term Loan Commitment, and the denominator of which is
         equal to the sum of all Lenders' Commitments.

                  (c) The definition of "Revolving Loan Termination Date" is
hereby changed to "Termination Date" and is further amended by deleting the date
"June 30, 2002" and inserting in its place the date "June 30, 2003."

                  (d) The definition of "Majority Lenders" is hereby amended by
adding at the end of such definition the following language:

                  "; provided, however, if any provision of this Agreement
         requires action by the Majority Lenders and (i) relates to the
         extension of the maturity of the Term Loan, an adverse modification of
         the payment schedule, the amount of principal or the calculation or
         amount of interest of the Term Loan or of this clause (i), then
         "Majority Lenders" shall mean Lenders holding at least 67% of the
         outstanding principal amount of the Term Loan, or (ii) relates to the
         extension of the maturity of the Revolving Loan, or an adverse
         modification of the amount of principal or the calculation or amount of
         interest of the Revolving Loan or of this clause (ii), then "Majority
         Lenders" shall mean Lenders holding at least 67% of the Revolving Loan
         Commitment."

                  (e) The definition of "CPI Stock Option Plan" is hereby
amended by adding at the end of such definition the following language:

                                       3

<PAGE>

                           "and the CPI 2002 Non-Qualified Stock Plan, in either
         case, as the same has been or may hereinafter be amended, restated,
         supplemented, or otherwise modified from time to time with the consent
         of the Agent."

                  (f) The following definitions are hereby deleted:
"Guarantors," "Guarantors' Liabilities," "Guaranty," "Pledged Securities,"
"Pledged Securities Value," and "Securities Pledge Agreement" and all references
thereto in the Loan Agreement shall be disregarded.

                  1.2 All references in the Loan Agreement to "Revolving Loan
Termination Date" shall hereafter be deemed to refer to the Termination Date.

                  1.3 With the exception of Sections 1.1, 2.1(a), 2.2, 3.4, and
3.5(b), all other references in the Loan Agreement to a "Revolving Loan" or the
"Revolving Loans" shall hereafter be deemed to refer to the Loans (as such term
is amended hereby), and all references to "Revolving Loan Notes" shall hereafter
be deemed to refer to the Notes (as such term is amended hereby), except, in
each case, where such interpretation would be wholly inapplicable.

                  1.4 Section 2.1 of the Loan Agreement is hereby amended by
renumbering it as "Section 2.1(a)" and by restating the first paragraph thereof
in its entirety to read as follows:

                  "Subject to the terms and provisions of this Agreement and the
         other Loan Documents, the Lenders may, each in its sole discretion,
         severally and not jointly, make revolving loans and advances (the
         "Revolving Loans") to Borrowers, from time to time until the
         Termination Date, not to exceed each Lender's Revolving Loan Commitment
         Percentage of the Revolving Loans requested by Borrowers, in an
         aggregate amount of Revolving Loans not to exceed (A) the lesser of (i)
         the Borrowing Base or (ii) the Maximum Revolving Credit Facility, minus
         the aggregate undrawn face amount of any Letters of Credit outstanding
         at such time and any unreimbursed drawings with respect to Letters of
         Credit, minus (B) the Term Loan Reserve, if any, and in the case of
         each Lender, up to but not exceeding each Lender's Revolving Loan
         Commitment."

                  1.5 Section 2.1 of the Loan Agreement is hereby amended by
redesignating Exhibit C, the Form of Revolving Loan Note, as "Exhibit C-1".

                  1.6 A new Section 2.1(b) is hereby added to the Loan Agreement
as follows:

                  "(b) Term Loan Commitment. Subject to the terms and conditions
         of this Agreement and the other Loan Documents, and in reliance upon
         the representations and warranties of the Borrowers set forth herein
         and in the other Loan Documents, the Lenders having any Term Loan
         Commitment (as set forth on the signature pages to the amendment hereto
         creating such facility) hereby severally agree to make a Term Loan
         equal to its respective Term Loan Commitment. The Term Loan shall be
         made to the Borrowers in a single principal advance on June 28, 2002.
         The Term Loan shall be evidenced by, and shall be repayable in
         accordance with, the terms hereof and the Term Note in the form of
         Exhibit C-2 hereto (the "Term Note")."

                                       4

<PAGE>

                  1.7 Section 3.4 of the Loan Agreement is hereby amended by
inserting a new sentence at the end of such section to read as follows:

                  "Borrower shall not be permitted to voluntarily prepay any
         amounts outstanding under the Term Loan prior to the repayment of all
         other Obligations outstanding under the Loan Documents (including
         without limitation the payment of, or providing cash collateral for,
         the undrawn face amount of any outstanding Letters of Credit)."

                  1.8 Section 3.5 of the Loan Agreement is hereby amended by (i)
designating the existing text thereof as clause "(a)" and inserting the
following as a new subsection (b) thereto:

                  "(b) Lenders shall apply any Mandatory Prepayments first to
         any amounts outstanding under any Revolving Loan (which Mandatory
         Prepayments shall be available for reborrowing hereunder subject to the
         terms hereof). After the outstanding principal amounts of all Revolving
         Loans have been reduced to zero, Lenders shall apply Mandatory
         Prepayments to the Term Loan. In no event shall Borrowers be permitted
         to reborrow amounts prepaid and applied to the Term Loan. In the case
         of all prepayments, whether voluntary or mandatory, such payments shall
         be accompanied by payment of all accrued and unpaid interest on the
         Loans being prepaid."

                  1.9 Section 3.6 of the Loan Agreement is hereby amended by
deleting the second sentence thereof in its entirety.

                  1.10 Section 8.1 of the Loan Agreement is hereby amended by
deleting the word "or" in front of clause (C) and inserting between clause (C)
and the words "so long as" the following language:

                  ", or (D) the sale of the Geneva Property on or prior to June
         30, 2003 for a cash purchase price payable at the closing of such sale
         of at least $1,700,000, the entire proceeds (including amounts in
         excess of $1,700,000) of which, (notwithstanding clause (ii) below)
         shall be applied in accordance with Section 3.5(a)(i) and may be
         reborrowed subject to the other provisions of this Agreement,"

                  1.11 Section 8.1 of the Loan Agreement is hereby further
amended by adding after the first sentence thereof the following language:

                  "In the event that Teltrend consummates a sale of the land
         secured by the Mortgage in accordance with clause (D), above, Agent
         hereby agrees to release the Mortgage."

                  1.12 Section 8.17 of the Loan Agreement is hereby amended and
restated in its entirety to read as follows:

                                       5

<PAGE>

                  "8.17 Capital Expenditures. Make or incur any Capital
         Expenditures in excess of (i) $6,500,000 in their 2003 Fiscal Year,
         (ii) $7,000,000 in each of their 2004 Fiscal Year or any Fiscal Year
         thereafter."

                  1.13 Section 11.2 of the Loan Agreement is hereby amended by
deleting it in its entirety and replacing it with the following:

                  "11.2 EBITDA. Borrowers shall have on each date set forth
         below, a minimum EBITDA: (a) for each of the following dates, measured
         on a year to date basis ending on such date:

                           Date                             EBITDA
                           ----                             ------

                           June 30, 2002                    $3,400,000
                           July 31, 2002                    $4,400,000
                           August 31, 2002                  $5,900,000
                           September 30, 2002               $7,400,000
                           October 31, 2002                 $8,300,000
                           November 30, 2003                $10,300,000
                           December 31, 2003                $11,700,000
                           January 31, 2003                 $13,000,000
                           February 28, 2003                $14,500,000

                           (b) as at the end of each month during each of the
         following periods for the twelve-month period ending on such date,
         commencing March 31, 2003 through and including June 30, 2003, not less
         than $15,700,000 as of such date.

                  1.14 The Loan Agreement is hereby amended by deleting Section
11.3(a) in its entirety and substituting the following therefor:

                  "11.3(a) [Reserved]."

                  1.15 Section 11.3(b) of the Loan Agreement is hereby amended
by deleting it in its entirety and replacing it with the following:

                  "(b) Tangible Net Worth. Commencing with June 2002, Borrowers
         shall maintain, measured on a monthly basis as at the end of each of
         the following months, the minimum Tangible Net Worth set forth opposite
         such date set forth below (parentheses denote negative):

                                       6

<PAGE>

                           Date                        Tangible Net Worth
                           ----                        ------------------

                           June 30, 2002               $(13,100,000)
                           July 31, 2002               $(13,300,000)
                           August 31, 2002             $(10,300,000)
                           September 30, 2002          $(9,900,000)
                           October 31, 2002            $(10,300,000)
                           November 30, 2003           $(9,000,000)
                           December 31, 2003           $(8,700,000)
                           January 31, 2003            $(8,500,000)
                           February 28, 2003           $(7,900,000)

                  As of the last day of each month commencing March 31, 2003
through and including June 30, 2003, Borrowers shall maintain a minimum Tangible
Net Worth of not less than negative $7,500,000 as of such date."

                  1.16 Section 12.12 of the Loan Agreement is hereby amended in
clause (b) by deleting the words "fifty-one percent (51%)" and substituting the
words "forty percent (40%)" therefor.

                  1.17 The Loan Agreement is hereby amended by deleting Section
12.13 in its entirety and substituting the following therefor:

                  "12.13   [Reserved]."

                  1.18 Schedule 7.27 to the Loan Agreement is hereby deleted in
its entirety and replaced with Schedule 1.18 attached hereto, it being
acknowledged that such schedule shall be delivered by Borrowers by July 8, 2002,
and failure to deliver by such date shall constitute an Event of Default.

         SECTION 2         REPRESENTATIONS AND WARRANTIES
                           ------------------------------

                  To induce Agent to amend the Loan Agreement and grant the
waiver set forth herein, Borrowers jointly and severally represent and warrant
to Agent that:

                  2.1 Representations and Warranties. On the date hereof, the
representations and warranties and covenants set forth in the Loan Agreement (as
modified by this Amendment and Waiver), are true and correct with the same
effect as though such representations and warranties and covenants had been made
on the date hereof, except to the extent that such representations and
warranties and covenants expressly relate to an earlier date.

                  2.2. Corporate Authority of Borrowers. Borrowers have full
power and authority to enter into this Amendment and Waiver, and to incur and
perform the obligations provided for under this Amendment and Waiver and the
Loan Agreement, all of which have been duly authorized by all proper and
necessary corporate action. No consent or approval of stockholders or of any
public authority or regulatory body is required as a condition to the validity
or enforceability of this Amendment and Waiver which has not been obtained.

                                       7

<PAGE>

                  2.3 Amendment and Waiver as Binding Agreement. This Amendment
and Waiver constitutes the valid and legally binding obligation of Borrowers,
fully enforceable against Borrowers, in accordance with its terms.

                  2.4. No Conflicting Agreements. The execution and performance
by the Borrowers of this Amendment and Waiver will not (i) violate any provision
of law, any order of any court or other agency of government, or the Articles of
Incorporation, Certificate of Formation, Operating Agreement or Bylaws of
Borrowers, (ii) violate any indenture, contract, agreement or other instrument
to which Borrowers are a party, or by which any of their property is bound, or
be in conflict with, result in a breach of or constitute (with due notice and/or
lapse of time) a default under, any such indenture, contract, agreement or other
instrument or result in the creation or imposition of any lien, charge or
encumbrance of any nature whatsoever upon any of the property or assets of
Borrowers.

         SECTION 3         CONDITIONS PRECEDENT.
                           --------------------

                  The agreement by Agent to amend the Loan Agreement and grant
the waivers is subject to the following conditions precedent:

                  3.1 Revolving Note. Execution and delivery by Borrowers of a
Revolving Note in the form of Exhibit A hereto.

                  3.2 Term Note. Execution and delivery by Borrowers of a Term
Note in the form of Exhibit B hereto.

                  3.3 Release of Guaranty and Securities Pledge Agreement.
Execution and delivery by Agent of a Release of Guaranty and Securities Pledge
Agreement in the form of Exhibit C hereto.

                  3.4 Reaffirmation of Stock Pledge Agreement. Execution and
delivery by Technologies of a reaffirmation of that certain Stock Pledge
Agreement dated as of August 31, 2000, between Technologies and Agent in the
form of Exhibit D hereto.

                  3.5 Mortgage Amendment. Second Amendment to Mortgage, Security
Agreement, Assignment of Leases and Rents and Fixture Filing dated as of June
28, 2002 between Teltrend and Agent in the form of Exhibit E hereto.

                  3.6 Reaffirmation of Subordination Agreement. Execution and
delivery by Solectron Corporation and Solectron Technology SDN.BHD. of that
certain Subordination Agreement dated as of May 30, 2002 in the form of Exhibit
F hereto.

                  3.7 Corporate Authority. Borrowers shall have provided to
Agent certified copies of the unanimous written consent of their Boards of
Directors in a form reasonably acceptable to Agent authorizing the execution,
delivery and performance by the Borrowers of this Amendment and Waiver and the
agreements, instruments and documents executed in connection herewith.

                                       8

<PAGE>

                  3.8 Fee. Borrowers shall have paid to Agent for its own
account a restructuring fee in the amount of $300,000.

                  3.9 Borrowers shall have delivered to the Agent each and every
agreement, document, note, release, guaranty, certificate, notice, affidavit,
exhibit, schedule, resolution, legal opinion, assignment, security agreement or
financing statement which the Agent may reasonably request from the Borrowers,
in form and substance satisfactory to Agent, to effect the intent of this
Amendment and Waiver.

         SECTION 4         WAIVERS
                           -------

                  4.1 The Bank hereby waives Borrowers' failure to be in
compliance with the Tangible Net Worth and EBITDA covenants as of February 28,
2002, March 31, 2002, April 30, 2002 and May 31, 2002, and any Events of Default
created thereby, solely as of those dates.

                  4.2 The Agent hereby waives Borrowers failure to be in
compliance with the Net Worth covenants as of December 31, 2001 and March 31,
2002, and any Events of Default created thereby, solely as of those dates.

         The foregoing waivers shall be limited waivers and shall not constitute
a waiver of any other or subsequent violations of the Loan Agreement, whether of
a different or like nature, nor shall such waivers constitute a course of
conduct or dealing.

         SECTION 5         REAFFIRMATION AND ACKNOWLEDGMENT
                           --------------------------------

                  Technologies, Westell, CPI and Teltrend (together, the
"Pledgors") are each party to both (i) a Security Agreement and Mortgage -
Trademarks and Patents and (ii) a Security Interest Agreement - Patents, each
dated as of August 31, 2000 (the "Security Agreements") pursuant to which
Pledgors granted to Agent a lien on and security interest in certain of Pledgors
patents and trademarks as described therein. Pledgors hereby expressly reaffirm
and assume all of their obligations and liabilities as set forth in the Security
Agreements, agree that the obligations secured thereby shall include all
obligations of Borrowers to Agent under the Loan Agreement, as amended from time
to time, including this Amendment and Waiver, and agree to be bound by and abide
by and operate and perform under and pursuant to and comply fully with all of
the terms, conditions, provisions, agreements, representations, undertakings,
warranties, and covenants contained in the Security Agreements, insofar as such
obligations and liabilities may be modified by this Amendment and Waiver.

         SECTION 6         MISCELLANEOUS PROVISIONS.
                           -------------------------

                  6.1 To the extent the provisions of this Amendment and Waiver
differ from or are inconsistent with the terms of the Loan Agreement or any of
the Loan Documents, the provision of this Amendment and Waiver shall govern;
otherwise, the terms and provisions of the Loan Agreement shall remain in full
force and effect and are hereby affirmed, confirmed and ratified in all
respects. Borrowers ratify, confirm and affirm without condition, all liens and
security interests granted to Agent pursuant to the Loan Agreement and the Loan
Documents, and such liens and security interests shall continue to secure the

                                       9

<PAGE>

obligations and liabilities of Borrowers to Agent, including but not limited to,
all loans made by Agent to the Borrowers under the Loan Agreement as amended by
this Amendment and Waiver.

                  6.2 This Amendment and Waiver shall be construed in accordance
with and governed by the laws of the State of Illinois, and the obligations of
Borrowers under this Amendment and Waiver are and shall arise absolutely and
unconditionally upon the execution and delivery of this Amendment and Waiver.

                  6.3 This Amendment and Waiver may be executed in any number of
counterparts.

                  6.4 Borrowers hereby agree to pay all out-of-pocket expenses
incurred by Agent in connection with the preparation, negotiation and
consummation of this Amendment and Waiver, and all other documents related
thereto, including without limitation, the reasonable fees and expense of
Agent's counsel, and any filing fees required in connection with the filing of
any documents necessary to consummate the provisions of this Amendment and
Waiver.

                  6.5 On or after the effective date hereof, each reference in
the Loan Agreement or any of the Loan Documents to this "Agreement" or words of
like import, shall unless the context otherwise requires, be deemed to refer to
the Loan Agreement as amended hereby.

                  6.6 The Agent and the Lenders hereby consent to the adoption
by CPI of the CPI 2002 Nonqualified Stock Plan in the form of Exhibit G attached
hereto.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       10

<PAGE>

         IN WITNESS WHEREOF, Borrowers and Agent has caused this Amendment and
Waiver to be duly executed by their duly authorized officers, all as of the date
and year first above written.

BORROWERS:                          WESTELL TECHNOLOGIES, INC.

                                    By:      ___________________________________
                                    Title:   ___________________________________

                                    WESTELL, INC.

                                    By:      ___________________________________
                                    Title:   ___________________________________

                                    WESTELL INTERNATIONAL, INC.

                                    By:      ___________________________________
                                    Title:   ___________________________________

                                    CONFERENCE PLUS, INC.

                                    By:      ___________________________________
                                    Title:   ___________________________________

                                    TELTREND LLC.

                                    By:      ___________________________________
                                    Title:   ___________________________________
                                    Address: 750 North Commons Drive
                                             Aurora, Illinois 60504

AGENT AND LENDER:                   LASALLE BANK NATIONAL ASSOCIATION

                                    By:      ___________________________________
Revolving Loan Commitment:          Title:   ___________________________________
$30,000,000                         Address: 135 South LaSalle Street
Percentage:  100%                            Chicago, Illinois 60603
                                             Attn:    Stephanie Kline
Term Loan Commitment:
$5,000,000
Percentage:  100%

                                       11

<PAGE>

                                    Exhibit A
                                    ---------

                       AMENDED AND RESTATED REVOLVING NOTE

$30,000,000                                                        June 28, 2002

                  WESTELL TECHNOLOGIES, INC., WESTELL, INC., WESTELL
INTERNATIONAL, INC., CONFERENCE PLUS, INC. and TELTREND LLC (collectively,
"Borrowers"), hereby jointly and severally promise to pay to the order of
LaSalle Bank National Association (the "Lender"), on June 30, 2003 the principal
sum of Thirty Million and No/100 Dollars ($30,000,000), or such lesser amount of
all of the then outstanding advances made by the Lender to Borrowers pursuant to
Section 2.1 of the "Loan Agreement" (as hereinafter defined), together with
interest on any and all principal amounts remaining unpaid hereunder from time
to time from the date hereof until paid, at the rate(s) set forth in Section
2.10 of the Loan Agreement, payable on the last day of each Interest Period (as
such term is defined in the Loan Agreement), and continuing until the Revolving
Loans (as such term is defined in the Loan Agreement) are paid in full.

                  Any amount of interest or principal hereof which is not paid
when due, whether on the last day of an Interest Period, at stated maturity, by
acceleration or otherwise, shall bear interest payable on demand at the Default
Rate (as such term is defined in the Loan Agreement).

                  All payments of principal and interest on this Note shall be
payable in lawful money of the United States of America. In no event shall the
interest payable exceed the highest rate permitted by law. Principal and
interest shall be paid to Lender at its office at 135 South LaSalle Street,
Chicago, Illinois 60603, or at such other place as the holder of this Note may
designate in writing to Borrowers. All payments hereunder shall be applied as
provided in the Loan Agreement. In determining Borrowers' liability to the
Lender hereunder, the books and records of the Lender shall be controlling
absent arithmetic or manifest or demonstrable error.

                  This Note evidences certain indebtedness incurred under the
Amended and Restated Loan and Security Agreement, dated August 31, 2000 between
Westell Technologies, Inc., Westell, Inc., Westell International, Inc.,
Conference Plus, Inc., Teltrend LLC (as successor to Teltrend, Inc.), and the
financial institutions from time to time parties thereto, including the Lender
(collectively, the "Lenders"), and LaSalle Bank National Association, as agent
(the "Agent") for the Lenders (as heretofore or hereafter amended, restated,
supplemented or otherwise modified, the "Loan Agreement"), to which reference is
hereby made for a statement of the terms and conditions under which the due date
of this Note or any payment thereon may be accelerated or is automatically
accelerated, or under which this Note may be prepaid or is required to be
prepaid. All capitalized terms used herein shall, unless otherwise defined
herein, have the meanings set forth in the Loan Agreement. The holder of this
Note is entitled to all of the benefits provided in said Loan Agreement and the
Loan Documents referred to therein. Borrowers agree to pay all costs of
collection and all reasonable attorneys' fees paid or incurred in enforcing any
of the Lender's rights hereunder promptly on demand of the Lender and as more
fully set forth in the Loan Agreement.

                  This Note may be prepaid in whole or in part, and shall be
prepaid as appropriate, in accordance with the terms of the Loan Agreement.

<PAGE>

                  Except as set forth in the Loan Agreement, the Borrowers,
endorsers and all other parties to this Note waive presentment, demand, notice,
protest and all other demands and notices in connection with the delivery,
acceptance, performance, default or enforcement of this Note and the Loan
Agreement. In any action on this Note, the Lender or its assignee need not file
the original of this Note, but need only file a photocopy of this Note certified
by the Lender or such assignee to be a true and correct copy of this Note.

                  This is the Revolving Note referred to in the Loan Agreement.
This Note is secured by, among other things, a security interest in the
Collateral granted to the Agent pursuant to Section 4 of the Loan Agreement.

                  No delay on the part of the Lender in exercising any right
under this Note, any security agreement, guaranty or other undertaking affecting
this Note, shall operate as a waiver of such right or any other right under this
Note, nor shall any omission in exercising any right on the part of the Lender
under this Note operate as a waiver of any other rights.

                  Upon the occurrence of an Event of Default which is an Uncured
Default under the Loan Agreement, the outstanding indebtedness evidenced by this
Note, together with all accrued interest, shall be due and payable in accordance
with the terms of the Loan Agreement, without notice to or demand upon the
Borrowers except as otherwise provided in the Loan Agreement, and the Lender may
exercise all of its rights and remedies reserved to it under the Loan Agreement
or applicable law.

                  If any provision of this Note or the application thereof to
any party or circumstance is held invalid or unenforceable, the remainder of
this Note and the application of such provision to other parties or
circumstances will not be affected thereby and the provisions of this Note shall
be severable in any such instance.

                  This Note shall be in replacement of and in substitution for
that certain Revolving Loan Note dated May 30, 2002, in the original principal
amount of $35,000,000, made by Westell Technologies, Inc., Westell, Inc.,
Westell International, Inc., Conference Plus, Inc., and Teltrend LLC and payable
to the order of Lender (the "Original Note"). The indebtedness evidenced by the
Original Note is continuing indebtedness, and nothing herein shall be deemed to
constitute a payment, settlement or novation of the Original Note, or to release
or otherwise adversely affect any lien, mortgage or security interest securing
such indebtedness or any rights of the Lender against any guarantor, surety or
other party primarily or secondarily liable for such indebtedness.

                  BORROWERS HEREBY WAIVE ANY RIGHT BORROWERS MAY NOW OR
HEREAFTER HAVE TO SUBMIT ANY CLAIM, ISSUE OR DEFENSE ARISING HEREUNDER OR UNDER
THE OTHER DOCUMENTS RELATING TO THIS NOTE TO A TRIAL BY JURY.

<PAGE>

                  This Note shall be deemed to have been made under and shall be
governed in accordance with the internal laws and not the conflict of law rules
of the State of Illinois.

                                            WESTELL TECHNOLOGIES, INC.

                                            By: ________________________________
                                            Title:  ____________________________

                                            WESTELL, INC.

                                            By: ________________________________
                                            Title:______________________________

                                            WESTELL INTERNATIONAL, INC.

                                            By:_________________________________
                                            Title:______________________________

                                            CONFERENCE PLUS, INC.

                                            By:_________________________________
                                            Title:______________________________

                                            TELTREND LLC

                                            By: ________________________________
                                            Title: _____________________________

<PAGE>

                                    Exhibit B
                                    ---------

                                    TERM NOTE

$5,000,000.00                                                      June 28, 2002
Chicago, Illinois

         FOR VALUE RECEIVED, WESTELL TECHNOLOGIES, INC., WESTELL, INC., WESTELL
INTERNATIONAL, INC., CONFERENCE PLUS, INC. and TELTREND LLC (collectively,
"Borrowers"), hereby jointly and severally promise to pay to the order of
LASALLE BANK NATIONAL ASSOCIATION, a national banking association (hereinafter,
together with any holder hereof, called the "Lender"), whose address is 135
South LaSalle Street, Chicago, Illinois 60603, on or before June 30, 2003 (the
"Maturity Date"), the principal sum of Five Million and 00/100 DOLLARS
($5,000,000.00), which amount is the principal amount of the Term Loan made by
the Lender to the Borrowers under and pursuant to that certain Amended and
Restated Loan and Security Agreement dated as of August 31, 2000 (as amended,
restated, supplemented or modified from time to time, the "Loan Agreement"),
executed by and between the Borrowers and the Lender, as Agent and as a lender,
and the other lenders from time to time a party thereto, together with interest
(computed on the actual number of days elapsed on the basis of a 360 day year)
on the principal amount of the Term Loan outstanding from time to time as
provided in Section 2.10 of the Loan Agreement. Capitalized words and phrases
not otherwise defined herein shall have the meanings assigned thereto in the
Loan Agreement.

         The outstanding principal of this Note, and all accrued interest
thereon, shall be payable as follows:

                  (a) installments of interest only on the principal balance of
         this Note outstanding from time to time commencing on June 30, 2002 and
         continuing on the last day of each Interest Period (as such term is
         defined in the Loan Agreement); and

                  (b) a final installment equal to the remaining outstanding
         principal balance of this Note, and all accrued and unpaid interest
         thereon, on the Maturity Date, unless payable sooner pursuant to the
         provisions of the Loan Agreement.

         Any amount of interest or principal hereof which is not paid when due,
whether on the last day of an Interest Period, at stated maturity, by
acceleration or otherwise, shall bear interest payable on demand at the Default
Rate (as such term is defined in the Loan Agreement).

         This Note evidences the Term Loan incurred by the Borrowers under and
pursuant to the Loan Agreement, to which reference is hereby made for a
statement of the terms and conditions under which the due date of this Note or
any payment thereon may be accelerated or is automatically accelerated, or under
which this Note may be prepaid or is required to be prepaid. The holder of this
Note is entitled to all of the benefits provided in said Loan Agreement and the
Loan Documents referred to therein. Borrowers agree to pay all costs of
collection and all reasonable attorneys' fees paid or incurred in enforcing any
of the Lender's rights hereunder promptly on demand of the Lender and as more
fully set forth in the Loan Agreement.

<PAGE>

         All payments of principal and interest on this Note shall be payable in
lawful money of the United States of America. In no event shall the interest
payable exceed the highest rate permitted by law. Principal and interest shall
be paid to Lender at its office at 135 South LaSalle Street, Chicago, Illinois
60603, or at such other place as the holder of this Note may designate in
writing to Borrowers. All payments hereunder shall be applied as provided in the
Loan Agreement. In determining Borrowers' liability to the Lender hereunder, the
books and records of the Lender shall be controlling absent arithmetic or
manifest or demonstrable error.

         This Note may not be voluntarily prepaid, but shall be prepaid as
appropriate, in accordance with the terms of the Loan Agreement.

         Except as set forth in the Loan Agreement, the Borrowers, endorsers and
all other parties to this Note waive presentment, demand, notice, protest and
all other demands and notices in connection with the delivery, acceptance,
performance, default or enforcement of this Note and the Loan Agreement. In any
action on this Note, the Lender or its assignee need not file the original of
this Note, but need only file a photocopy of this Note certified by the Lender
or such assignee to be a true and correct copy of this Note.

         This Note is secured by, among other things, a security interest in the
Collateral granted to the Agent pursuant to Section 4 of the Loan Agreement.

         No delay on the part of the Lender in exercising any right under this
Note, any security agreement, guaranty or other undertaking affecting this Note,
shall operate as a waiver of such right or any other right under this Note, nor
shall any omission in exercising any right on the part of the Lender under this
Note operate as a waiver of any other rights.

         Upon the occurrence of an Event of Default which is an Uncured Default
under the Loan Agreement, the outstanding indebtedness evidenced by this Note,
together with all accrued interest, shall be due and payable in accordance with
the terms of the Loan Agreement, without notice to or demand upon the Borrowers
except as otherwise provided in the Loan Agreement, and the Lender may exercise
all of its rights and remedies reserved to it under the Loan Agreement or
applicable law.

         The Term Loan evidenced hereby has been made and/or issued and this
Note has been delivered at the Lender's main office set forth above. This Note
shall be governed and construed in accordance with the laws of the State of
Illinois, in which state it shall be performed, and shall be binding upon the
Borrowers, and their legal representatives, successors, and assigns. Wherever
possible, each provision of this Note shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Note
shall be prohibited by or be invalid under such law, such provision shall be
severable, and be ineffective to the extent of such prohibition or invalidity,
without invalidating the remaining provisions of this Note. The term "Borrowers"
as used herein shall mean all parties signing this Note, and each one of them,
and all such parties, their respective successors and assigns, shall be jointly
and severally obligated hereunder.

                                       2

<PAGE>

         BORROWERS HEREBY WAIVE ANY RIGHT BORROWERS MAY NOW OR HEREAFTER HAVE TO
SUBMIT ANY CLAIM, ISSUE OR DEFENSE ARISING HEREUNDER OR UNDER THE OTHER
DOCUMENTS RELATING TO THIS NOTE TO A TRIAL BY JURY.

         IN WITNESS WHEREOF, the Borrowers have executed this Note as of the
date set forth above.

                                            WESTELL TECHNOLOGIES, INC.

                                            By: ________________________________
                                            Title:  ____________________________

                                            WESTELL, INC.

                                            By: ________________________________
                                            Title:______________________________

                                            WESTELL INTERNATIONAL, INC.

                                            By:_________________________________
                                            Title:______________________________

                                            CONFERENCE PLUS, INC.

                                            By:_________________________________
                                            Title:______________________________

                                            TELTREND LLC

                                            By: ________________________________
                                            Title: _____________________________

                                       3

<PAGE>

                                    Exhibit C
                                    ---------

               RELEASE OF GUARANTY AND SECURITIES PLEDGE AGREEMENT

         This Release of Guaranty and Securities Pledge Agreement (the
"Release") is made as of the 28th day of June, 2002 by LaSalle Bank National
Association, a national banking association, as agent (in such capacity,
"Agent") for the "Lenders" (as defined in the Loan Agreement referred to below)
(together, Agent and the Lenders, the "Releasing Parties"), in favor of Marlene
D. Foskett Trust under agreement Florence R. Penny Children's Trust dated
December 28, 1989, The Marlene Diane Foskett Trust dated December 31, 1970,
Barbara J. McDonough Trust under agreement Florence R. Penny Children's Trust
dated December 28, 1989, The Barbara J. McDonough Trust dated December 31, 1970,
Robert C. Penny III Trust under agreement Florence R. Penny Children's Trust
dated December 28, 1989, and The Robert Clinton Penny Trust Number Two dated
December 30, 1974 (collectively, "Guarantors").

         WHEREAS, pursuant to that Amended and Restated Loan and Security
Agreement dated as of August 31, 2000 (as amended, restated, supplemented or
otherwise modified from time to time, the "Loan Agreement"; capitalized terms
used but not defined herein shall have the meanings set forth in the Loan
Agreement), Guarantors have previously executed and delivered to the Agent that
certain Guaranty (as amended, restated, supplemented or otherwise modified from
time to time, the "Guaranty") dated as of June 29, 2001, guarantying certain
obligations of Westell Technologies, Inc. and its subsidiaries (collectively,
"Borrowers").

         WHEREAS, pursuant to the Loan Agreement, Guarantors delivered to Agent
a Securities Pledge Agreement dated as of June 29, 2001 (as amended, restated,
supplemented or otherwise modified from time to time, the "Pledge Agreement").

         WHEREAS, Agent and the Borrowers (as defined in the Loan Agreement)
intend to enter into a Sixth Amendment to Amended and Restated Loan and Security
Agreement and Waiver (the "Sixth Amendment"), which, among other things,
provides for the release of the Guaranty and the Pledge Agreement by the
Releasing Parties.

         NOW THEREFORE, the Releasing Parties hereby agree as follow:

     1.  Concurrent with the consummation of the Sixth Amendment, the Guaranty
         shall be terminated, the Releasing Parties shall irrevocably discharge
         and fully release Guarantors from their obligations and liabilities
         under the Guaranty and, in accordance with the provisions thereof, the
         Guaranty shall cease to be of any further force or effect.

     2.  Concurrent with the consummation of the Sixth Amendment, the Pledge
         Agreement shall be terminated, the Releasing Parties shall irrevocably
         discharge and fully release their lien on the Pledged Collateral (as
         defined in the Pledge Agreement) of Guarantor granted to the Releasing
         Parties under the Pledge Agreement and, in accordance with the
         provisions thereof, the Pledge Agreement shall cease to be of any
         further force or effect.

<PAGE>

     3.  Lender hereby agrees that upon the effectiveness of this Release,
         Lender shall notify Robertson Stephens, Inc. that (i) Lender's security
         interest in the Account (as defined in the Pledge Agreement) and (ii)
         the Account Control Agreement by and between Lender and Robertson
         Stephens, Inc. dated as of June 29, 2001, are terminated.

     4.  This Release shall be governed by and construed in accordance with the
         laws of the State of Illinois.

     IN WITNESS WHEREOF, the undersigned has executed this Release as of the
date first written above.

AGENT AND LENDER:                      LASALLE BANK NATIONAL ASSOCIATION,
                                       individually and as Agent

                                       By:
                                           -------------------------------------
                                       Title:
                                              ----------------------------------

<PAGE>

                                    Exhibit D
                                    ---------

                     REAFFIRMATION OF STOCK PLEDGE AGREEMENT

                  This Reaffirmation of Stock Pledge Agreement dated as of June
28, 2002 (this "Reaffirmation") is entered into between WESTELL TECHNOLOGIES,
INC., a Delaware corporation (herein called the "Pledgor"), and LASALLE BANK
NATIONAL ASSOCIATION, as Agent (herein called the "Pledgee"), and has reference
to the following facts and circumstances:

                  A. Pursuant to that certain Amended and Restated Loan and
Security Agreement dated as of August 31, 2000, (herein as amended or modified
from time to time, the "Loan and Security Agreement") among Pledgee, Pledgor, as
Agent and as a Lender, and the other lenders from time to time a party thereto,
(together with its subsidiaries, Westell, Inc., Westell International, Inc.,
Conference Plus, Inc. and Teltrend LLC, collectively referred to hereinafter as
"Borrowers"), Pledgor granted Pledgee a security interest in its shares of
certain of the Borrowers pursuant to that certain Stock Pledge Agreement dated
as of August 31, 2000 and that certain Stock Pledge Agreement dated as of June
29, 2001 (each as amended, restated, supplemented or otherwise modified from
time to time, collectively, the "Pledge Agreements").

                  B. Borrowers desire to enter into a Sixth Amendment to Loan
and Security Agreement and Waiver dated as of the date hereof (the "Amendment
and Waiver") pursuant to which Pledgee has agreed to restructure certain
provisions of the Loan and Security Agreement.

                  C. Pledgor is financially interested in Borrowers.

                  D. Pledgor desires that Pledgee enter into the Amendment and
Waiver.

                  E. Pledgee is willing to enter into the Amendment and Waiver
only upon the condition that Pledgor execute and deliver this Reaffirmation in
favor of Pledgee.

                  NOW, THEREFORE, in consideration of the foregoing, Pledgor
hereby agrees as follows:

                  1 The preambles to this Reaffirmation are hereby incorporated
herein by this reference thereto.

                  2 Pledgor does hereby expressly ratify, confirm and affirm
without condition, all liens and security interests granted to the Pledgee
pursuant to the Pledge Agreements, and such liens and security interests shall
continue to secure the obligations and liabilities of Borrowers to Pledgee,
including but not limited to, all loans made by Pledgee to Borrowers under the
Loan and Security Agreement and all amendments thereto.

                  3. This Reaffirmation constitutes the valid and legally
binding obligation of Pledgor, fully enforceable against Pledgor, in accordance
with its terms.

                  4. This Reaffirmation shall inure to the benefit of Pledgee
and Lenders, their successors and assigns, and be binding upon Pledgor, and its
successors and assigns.

<PAGE>

                  IN WITNESS WHEREOF, the Pledgor has executed this
Reaffirmation on the date above set forth.

                                       WESTELL TECHNOLOGIES, INC.

                                       By: ___________________________
                                       Its: ___________________________

<PAGE>

                                    Exhibit E
                                    ---------

This instrument was prepared
by (and after recordation
should be returned to):

Scott J. Moore
Jenner & Block, LLC
One IBM Plaza
Chicago, IL 60611

                               SECOND AMENDMENT TO
                          MORTGAGE, SECURITY AGREEMENT,
                ASSIGNMENT OF LEASES AND RENTS AND FIXTURE FILING

         This Second Amendment to Mortgage, Security Agreement, Assignment of
Leases and Rents and Fixture Filing (hereafter, this "Amendment"), is entered
into as of the 28th day of June, 2002, by and between Teltrend LLC, a Delaware
limited liability company, as successor in interest to Teltrend, Inc. (herein,
together with its successors and assigns, called the "Mortgagor") in favor of
LASALLE BANK NATIONAL ASSOCIATION, a national banking association, having an
office at 135 South LaSalle, Chicago, Illinois 60603 (the "Mortgagee").

                                    RECITALS

         WHEREAS, Westell Technologies, Inc., Westell, Inc., Westell
International, Inc., Conference Plus, Inc., and Mortgagor, as successor by
merger with Teltrend, Inc. (collectively, the "Borrowers"), the financial
institutions from time to time parties thereto, including the Mortgagee
(collectively, the "Lenders"), and LaSalle Bank National Association, as agent
(the "Agent") for the Lenders, are parties to that certain Amended and Restated
Loan and Security Agreement dated as of August 31, 2000 (as the same has been
amended, restated, supplemented or otherwise modified from time to time, the
"Loan Agreement");

         WHEREAS, the Borrowers are parties to that certain Amended and Restated
Revolving Note dated as of May 30, 2002 in the original principal amount of
$35,000,000 (the "Original Note");

         WHEREAS, as security for the Indebtedness (as defined under the
Mortgage) under the Loan Agreement and the Original Note, Mortgagor, as
successor by merger with Teltrend, Inc., and Mortgagee are parties to a
Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing
dated as of September 4, 2001 and recorded in the office of the County Recorder
of Kane County, Illinois as Document No. 2001K104543, as amended by that certain
First Amendment to Mortgage, Security Agreement, Assignment of Leases and Rents
and Fixture Filing dated as of May 30, 2002 (as the same has been or shall be
amended, restated, supplemented or otherwise modified from time to time, the
"Mortgage"), pursuant to which the Mortgagor granted to Mortgagee a mortgage on

                                      -1-

<PAGE>

certain real property located in Kane County, Illinois and more particularly
described on Exhibit A attached hereto (the "Premises").

         WHEREAS, the Mortgagor intends to execute and deliver to Mortgagee (i)
a Sixth Amendment to Amended and Restated Loan and Security Agreement and Waiver
(the "Amendment and Waiver"), (ii) an Amended and Restated Revolving Note in the
original principal amount of $30,000,000 in substitution for and replacement of
the Original Note (the "Amended Note"), and (iii) a Term Note in the original
principal amount of $5,000,000 (the "Term Note," and, together with the Amended
Note, the "Notes");

         WHEREAS, Mortgagor and Mortgagee desire to amend the Mortgage as of the
Effective Date so as to provide that the Premises continue to secure the
obligations and liabilities of the Mortgagor to Mortgagee, as amended, under the
Amendment and Waiver and the Notes;

         NOW, THEREFORE, in consideration of the foregoing recitals, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Mortgagor and Mortgagee hereby agree as follows:

         1.       Amendments.
                  ----------

                  1.1 All references in the Mortgage or in any other agreements
executed and/or delivered in connection therewith to the term "Mortgage" shall
hereafter be deemed to mean the Mortgage, as amended by this Amendment.
Capitalized terms used herein, which are defined in the Mortgage, unless
otherwise defined herein, shall have the meanings provided therefor in the
Mortgage.

                  1.2 The Mortgage is hereby amended by deleting the property
address listed on the cover page to Exhibit A.

                  1.3 The Mortgage is hereby amended to provide that the
Mortgage continues to secure the obligations and liabilities of the Mortgagor to
Mortgagee, in each case, under the Loan Agreement, the Notes, and all such other
instruments, documents and agreements executed and/or delivered in connection
therewith, in each case as the same have been amended.

                  1.4 The Mortgage is hereby amended to provide that the term
"Note" shall be amended to mean the Notes made by Mortgagor and payable to the
order of the Mortgagee at Chicago, Illinois.

                  1.5 Mortgagor hereby expressly affirms and assumes all of
Mortgagor's obligations and liabilities to Mortgagee as set forth in the
Mortgage and the other instruments, documents and agreements executed and/or
delivered in connection therewith, in each case as the same have been amended,
and agrees to be bound by and abide by and operate and perform under and
pursuant to and comply fully with all of the terms, conditions, provisions,
agreements, representations, undertakings, warranties, guarantees, indemnities
and covenants contained in the Mortgage and other applicable documents to which
such entity is a party, as such obligations and liabilities may have been
amended, and as amended by this Amendment.

                                      -2-

<PAGE>

                  1.6 The Mortgage is hereby amended in all other respects to
include and give effect to the foregoing amendments. As so amended, the Mortgage
shall remain in full force and effect and shall continue to constitute the valid
and binding obligation of the Mortgagor, enforceable in accordance with its
terms, and the Mortgagor hereby affirms and agrees to remain bound by the
agreements and covenants set forth in the Mortgage, as amended hereby. The
Mortgagor hereby affirms, certifies, makes and confirms all representations and
warranties set forth in the Mortgage, as amended hereby. Nothing herein shall be
deemed to constitute or shall be construed as a waiver of any rights, remedies
or security of or granted to the Mortgagor hereunder or under the Mortgage, and
no subordination of the Mortgagee's interest in or lien or mortgage on the
Collateral is intended or to be implied hereby.

         2.       Representations and Warranties.
                  ------------------------------

                  On the date hereof, after giving effect to this Amendment,
Mortgagor represents and warrants to Mortgagee that:

                  2.1 The affirmative and negative covenants set forth in the
Mortgage are not currently being breached as of the date of this Amendment.

                  2.2 No Default (as such term is defined in the Mortgage) has
occurred and is continuing.

         3.       General Provisions.
                  ------------------

                  3.1 As herein modified or amended, the Mortgage shall remain
in full force and effect and is hereby affirmed, confirmed and ratified in all
respects.

                  3.2 This Amendment shall be governed by and construed in
accordance with the laws of the State of Illinois.

                  3.3 On or after the effective date hereof, each reference in
the Mortgage or any other agreements or documents executed in connection
therewith to "this Mortgage" or words of like import, shall, unless the context
otherwise requires, be deemed to refer to the Mortgage as amended hereby.

                  3.4 This Amendment shall be binding upon the Mortgagor and its
successors, grantees and assigns, any subsequent owner or owners of the Premises
and all persons claiming under or through Mortgagor and shall inure to the
benefit of Mortgagee, its successors and assigns.

                  3.5 Mortgagor hereby agrees to pay all out-of-pocket expenses
incurred by Mortgagee in connection with the preparation, negotiation and
consummation of this Amendment, and all other documents related thereto,
including without limitation, the reasonable fees and expense of Mortgagee's
counsel, and any filing fees required in connection with the filing of any
documents necessary to consummate the provisions of this Amendment.

                  3.6 The recitals to this Amendment are hereby incorporated
into this Mortgage in their entirety and are deemed to be a part thereof.

                                      -3-

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Amendment as of the day and year first above written.

                                   Mortgagor:

                                   TELTREND LLC, a Delaware limited liability
                                   company

                                   By:      WESTELL, INC., its sole member

                                            By:_______________________________
                                            Title:______________________________
Accepted:

LASALLE BANK NATIONAL
ASSOCIATION, a national
banking association

By:    ___________________________
Title: ___________________________

                                      -4-

<PAGE>

STATE OF ILLINOIS                   )
                                    ) SS.
COUNTY OF COOK                      )

         I, ___________________, a notary public in and for said County in the
State aforesaid, do hereby certify that _____________________, personally known
to me to be the _____________________ of Westell, Inc., an Illinois corporation,
the sole member of Teltrend LLC, a Delaware limited liability company, and
personally known to me to be the same person whose name is subscribed to the
foregoing instrument, appeared before me this day in person and acknowledged
they as such he signed and delivered the said instrument pursuant to proper
authority, as the free and voluntary act and deed of said corporation, for the
uses and purposes therein set forth.

         GIVEN, under my hand and notarial seal this ___ day of June, 2002.

                                                  ------------------------------
                                                           Notary Public

My Commission expires:

----------------------

                                      -5-

<PAGE>

STATE OF ILLINOIS                   )
                                    ) SS.
COUNTY OF COOK                      )

         I, ___________________, a notary public in and for said County in the
State aforesaid, do hereby certify that _____________________, personally known
to me to be the _____________________ of the LaSalle Bank National Association,
a national banking association, and personally known to me to be the same person
whose name is subscribed to the foregoing instrument, appeared before me this
day in person and acknowledged they as such he signed and delivered the said
instrument pursuant to proper authority, as the free and voluntary act and deed
of said national banking association, for the uses and purposes therein set
forth.

         GIVEN, under my hand and notarial seal this ___ day of June, 2002.

                                                  ------------------------------
                                                           Notary Public

My Commission expires:

----------------------

                                      -6-

<PAGE>

                        EXHIBIT A TO FIRST AMENDMENT TO
                          MORTGAGE, SECURITY AGREEMENT,
                ASSIGNMENT OF LEASES AND RENTS AND FIXTURE FILING

                        Legal Description of the Premises

                                  See attached.

Property Identification Number:  12-01-400-019

                                      -7-

<PAGE>

                                    Exhibit F
                                    ---------

                                REAFFIRMATION OF
                             SUBORDINATION AGREEMENT
                             -----------------------

                  This Reaffirmation of Subordination Agreement (this
"Reaffirmation"), dated and effective as of the 28th day of June, 2002, is
executed by and between Solectron Corporation ("Solectron Corp.") and Solectron
Technology SDN.BHD. ("Solectron BHD", and, together with Solectron Corp.,
"Junior Creditor") and LaSalle Bank National Association ("Lender"), and has
reference to the following facts and circumstances:

                  A. Pursuant to that certain Amended and Restated Loan and
Security Agreement dated as of August 31, 2000, (as heretofore or hereafter
amended, restated, supplemented or otherwise modified from time to time, the
"Loan Agreement") by and among Lender, individually and as agent (in such
capacity, the "Agent"), the other Lenders from time to time a party thereto,
Westell Technologies, Inc., ("Technologies"), Westell, Inc., ("Westell"),
Westell International, Inc., ("International"), Conference Plus, Inc., ("CPI"),
and Teltrend LLC, as successor by merger to Teltrend, Inc. ("Teltrend," and
together with Technologies, Westell, International and CPI, being, collectively,
the "Borrowers"), Junior Creditor delivered to Lender a certain Subordination
Agreement dated as of May 30, 2002 (the "Subordination Agreement").

                  B. Borrowers intend to enter into a Sixth Amendment to Amended
and Restated Loan and Security Agreement and Waiver (herein, as amended or
modified from time to time, the "Amendment and Waiver") pursuant to which Lender
shall extend the maturity of Borrowers' revolving credit facility and modify and
waive certain financial covenants.

                  C. Junior Creditor will benefit from such modifications and
waivers.

                  D. Junior Creditor desires to induce Agent to execute, deliver
and perform the Amendment and Waiver of even date herewith.

                  E. Agent is willing to enter into the Amendment and Waiver
only upon the condition that Junior Creditor execute and deliver this
Reaffirmation in favor of Bank.

                  NOW, THEREFORE, in consideration of the foregoing, Junior
Creditor hereby agrees as follows:

         1. The preambles to this Reaffirmation are hereby incorporated herein
by this reference thereto.

         2. Junior Creditor hereby reaffirms and agrees that the term "Senior
Debt" as used in the Subordination Agreement shall include and refer to, among
other things, the obligations, indebtedness and liabilities of the Borrowers to
Agent and Lenders pursuant to the Loan Agreement as amended by the Amendment and
Waiver and pursuant to the other Loan Documents (as defined in the Loan
Agreement) as the same may have been, or may hereafter be, amended, restated,
supplemented or otherwise modified from time to time.

<PAGE>

         3. Junior Creditor hereby expressly reaffirms and assumes (on the same
basis as set forth in the Subordination Agreement) all of Junior Creditor's
undertakings, obligations and liabilities as set forth in the Subordination
Agreement, and agrees to be bound by and abide by and operate and perform under
and pursuant to and comply fully with all of the terms, conditions, provisions,
agreements, representations, undertakings, warranties, and covenants contained
in the Subordination Agreement, as such undertakings, obligations and
liabilities may be modified by the Amendment and Waiver and the related
amendments to the other Loan Documents.

         4. This Reaffirmation shall inure to the benefit of Bank, its
successors and assigns and be binding upon Junior Creditor, its successors and
assigns.

                                       SOLECTRON CORPORATION, a Delaware
                                       corporation

                                       By: _____________________________________
                                       Title: __________________________________

                                       SOLECTRON TECHNOLOGY SDN.BHD.

                                       By: _____________________________________
                                       Title: __________________________________

<PAGE>

                                    Exhibit G
                                    ---------

                        CPI 2002 Nonqualified Stock Plan
                        --------------------------------

                                 (see attached)

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