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Finisar Announces Spinoff

SUNNYVALE, Calif. -- Finisar Corporation
(NASDAQ: FNSR), a global technology leader in fiber optic
communication and test and measurement solutions for high-speed
networks, today announced that it had completed a transaction whereby
it spun-off certain assets of its Network Tools business associated
with its NetWisdom(R) business to an investment group of storage and
software sector veterans, led by Mark Urdahl, a former IBM executive
who co-founded the Fibre Channel Systems Initiative, Jim Davidson, a
founding partner of Silver Lake Partners, and Steve Mankoff, a former
senior executive at Siebel Systems. Finisar will retain a minority
stake in the spin-off.

The NetWisdom product line, an
industry-leading software and hardware solution, is used for
monitoring and analysis of SAN environments within enterprise data
centers. NetWisdom provides real time monitoring and proactive
analysis of complex SAN issues. The award-winning solution has been
adopted by leading Global 500 enterprise data centers to ensure
uninterrupted access to business critical information.

"Our commitment to customers is always a top priority, and we believe
a dedicated, stand-alone entity will better serve our customers. We
expect a smooth transition for existing NetWisdom customers as a
result of this transaction," said Jerry Rawls, Chairman and CEO of
Finisar. "We have made excellent progress in this part of our
business, but we have confidence that this team of private equity
investors will provide the growth capital and singular focus desired
for this business grow rapidly and satisfy customer demand in the
enterprise data center market."

Finisar Corp.