Finisar/Optium Merge

SUNNYVALE, Calif. and HORSHAM, Pa. -- Finisar Corporation (NASDAQ: FNSR) and Optium Corporation (NASDAQ: OPTM) jointly announced today that they have entered into a definitive agreement under which the two companies will be combined through an all-stock merger, creating the world's largest supplier of optical components, modules and subsystems for the communications industry. The combined company will leverage Finisar's leadership position in the storage and data networking industries and Optium's leadership position in the telecommunications and CATV industries.

Both companies also jointly announced today that they expect to report new record revenues for their most recent quarters.

Overview of Strategic Combination

• Creates the world's largest supplier of optical components, modules
  and subsystems to the communications industry with the broadest product
  portfolio;
• Generates new growth opportunities in attractive end markets;
• Broadens core customer relationships with complementary product
  portfolios;
• Enhances global manufacturing flexibility combining low cost/high
  volume and mass customization expertise;
• Creates unparalleled combined R&D resources with enhanced ability to
  innovate and bring new products to market;
• Transaction expected to be accretive to non-GAAP earnings on a run-
  rate basis one year from closing;
• Estimated annualized pre-tax cost synergies of approximately $10-$15
  million;
• Jerry Rawls to remain executive Chairman of Finisar's board; Eitan
  Gertel to become President and CEO.

Based on the twelve months through January 2008 reported by each company, the combined company had revenues of approximately $554 million. Based on revenues expected to be reported for the most recent quarter, annualized revenues for the combined company would total approximately $660 million. The combined company will have approximately 5,000 employees world-wide.