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Finisar Wins OFC 2003 Attendees' Choice Award

SUNNYVALE, CA, Jul. 22, 2003 (MARKET WIRE via COMTEX) -- Finisar Corporation (NASDAQ: FNSR), a technology leader in gigabit fiber optic solutions for high-speed data and telecommunication networks, announced today that it has been awarded Lightwave's OFC 2003 Attendees' Choice Award for its 40km DWDM XFP 10Gb/s optical transceivers. The FTRX-3611-3xx, which was demonstrated at OFC on a live link over more than 40km of optical fiber, utilizes a temperature-controlled 1550nm EML and an APD receiver, and complies with the 40km 10-Gigabit Ethernet (10GBASE-ER/EW per IEEE 802.3ae) and SONET OC-192 IR-2 Standards. It supports ITU-Grid 100GHz-spacing DWDM and its power consumption is under 3.5W.

"The Lightwave Attendees' Choice Awards are designed to recognize achievement in the eyes of the people who matter most -- the people who buy and use optical components, subsystems, systems, test equipment, design tools, and manufacturing equipment," said Stephen Hardy, Editorial Director and Associate Publisher at Lightwave. "Only people actually at the show are eligible to vote. Therefore, Finisar's victory should be considered a significant achievement," he added.

These industry-first 40km XFP optical transceivers provide the cost and power savings inherent to XFP, enabling very cost-effective 10Gb/s optical links for extended-reach and metropolitan-area DWDM applications. They have the same mechanical footprint as the 10km version of XFP and fit in the standard XFP cage.

"We are extremely proud to receive this award from both our peers and customers at the OFC conference and Lightwave," said Finisar CEO Jerry Rawls. "We feel this award validates our leadership in XFP optical transceivers."

More information on the application-agnostic, ultra-small XFP optical transceiver can be found at the XFP MSA Group (www.xfpmsa.org) or at www.finisar.com/xfp.

About Finisar

Finisar Corporation (NASDAQ: FNSR) is a technology leader for fiber optic subsystems and network performance test systems. These products enable high-speed data communications for networking and storage applications over Gigabit Ethernet local area networks (LANs), Fibre Channel storage area networks (SANs), and metropolitan area networks (MANs). The Company's headquarters is in Sunnyvale, California, USA. www.finisar.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding Finisar Corporation's expectations, beliefs, intentions, or strategies regarding the future. All forward-looking statements included in this document are based upon information available to Finisar Corporation as of the date hereof, and Finisar Corporation assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to Finisar Corporation's business are set forth in Finisar Corporation's Form 10-K, as filed with the Securities and Exchange Commission on July 29, 2002, and other reports filed from time to time with the Securities and Exchange Commission.

Shelby Palmer Investor Relations 408-542-5050 Christian Urricariet Product Marketing 408-548-1000

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