X0201 4 2004-01-05 0 0001018074 CARRIER ACCESS CORP CACS 0001233841 KELD LLC 5395 PEARL PARKWAY BOULDER CO 80301 0 0 1 0 Common Stock 2004-01-05 2004-01-05 4 S 0 3000 14.1281 D 10100500 D Common Stock 2004-01-06 2004-01-06 4 S 0 3000 14.25 D 10097500 D Common Stock 2004-01-07 2004-01-07 4 S 0 3000 14.7477 D 10094500 D The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 20, 2003. /s/ Keld LLC by Nancy Pierce, Managing Member 2004-01-07