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August 3, 2004 at 5:01 AM EDT

Antitrust Clearances Received for Finisar's Acquisition of Infineon Fiber Optics Business

SUNNYVALE, CA, Aug. 03, 2004/Market Wire -- Finisar Corporation (NASDAQ: FNSR), reported today that Finisar and Infineon Technologies AG (NYSE: IFX) have received clearances from antitrust and merger control authorities in the United States and Europe to proceed with Finisar's previously announced acquisition of Infineon's fiber optics business. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired on July 15, 2004, and the merger control and antitrust regulatory authorities of the Federal Republic of Germany and the Czech Republic have notified Finisar and Infineon Technologies AG that they will not initiate proceedings with respect to the acquisition.

The acquisition remains subject to approval by Finisar's stockholders, which will be sought at Finisar's annual meeting, now expected to be held in late September or October 2004.

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) using IP and SONET/SDH-based protocols. The Company's headquarters is in Sunnyvale, California, USA. www.finisar.com.

<?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /?>SafeHarbor Statement under the Private Securities Litigation Reform Act of 1995

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The statements contained in this document 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 (SEC) on July 14, 2004 and amended on August 27, 2004, and other reports filed from time to time with the Securities and Exchange Commission, including the Preliminary Proxy Statement on Schedule 14A, as filed with the SEC on July 23, 2004.

 

Additional Information and Where to Find It

 

This document may be deemed to be solicitation material in respect of the proposed acquisition of the fiber optics business unit of Infineon Technologies AG by Finisar Corporation. In connection with the proposed transaction, Finisar has filed with the Securities and Exchange Commission (SEC) a preliminary proxy statement regarding the proposed acquisition transaction on Schedule 14A. The information contained in the preliminary proxy statement is not complete and may be changed. Investors are urged to read the definitive proxy statement when it becomes available and any other relevant documents filed with the SEC because they will contain important information. The definitive proxy statement will be sent to the stockholders of Finisar seeking their approval of the issuance of Finisar common stock to Infineon in connection with the proposed transaction. You may obtain copies of documents filed with the SEC by Finisar free of charge by requesting them in writing from Finisar Corporation, Moffett Park Drive, Sunnyvale, California 94089, Attention: Investor Relations, or by telephone at 408-542-5050 or by email at investor.relations@finisar.com. In addition, you may obtain any of the documents filed with the SEC free of charge at the website maintained by the SEC at www.sec.gov.

 

Participants in Solicitation

 

Finisar and its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies from the stockholders of Finisar in connection with the acquisition. Finisar's preliminary proxy statement filed with the SEC contains information regarding Finisar's directors, executive officers and employees and their interests in the solicitation.

 

 

Contact:
Shelby Palmer
Investor Relations
408-542-5050
investor.relations@finisar.com
Velvet Rimert
Public Relations
408-541-5659
velvet.rimert@finisar.com

SOURCE: Finisar Corporation