March 20, 2001

Finisar Selected by VIPswitch for Gigabit Fiber Optic Components

SUNNYVALE, Calif.--March 20, 2001--Finisar Corporation (Nasdaq:FNSR) a leading provider of gigabit fiber optic solutions, today announced a strategic relationship with VIPswitch, the developer of a new class of Terabit Switch/Router for next generation service providers.

"Finisar is a key technology partner for the integration of the VIPswitch Terabit edge switch/router for MAN Service Providers," said Marc Bage, Director of Optics. "Their Small Form Factor Pluggable (SFP) Gigabit Ethernet and OC-48 Transceivers have shown excellent performance in data integrity and stability, including low-jitter eye patterns and very fast rise/fall times."

VIPswitch delivers a new class of backbone Switch/Routers for Next Generation Metropolitan Networks. VIPswitch breakthrough routing technology serves the needs of a new breed of Service Providers who are shaping the metropolitan network of tomorrow. VIPswitch enables those new Service Providers to offer their customers new broadband real-time applications (i.e.: video on demand etc.), develop new services as well as new business models, and have the opportunity to generate new revenue streams from these time sensitive, high-value, real-time applications. All, for a fraction of the cost of current metropolitan network solution, while preserving existing telecommunication services revenue streams.

"We are very pleased to be working with VIPswitch in support of their new Terabit switch edge/router," said Christian Urricariet, Finisar's Product Marketing Manager. "We are also looking forward to supporting VIPswitch with our new FTRX family of 10Gbps transceivers that we have recently announced, and which will be a key element in the new, cost-effective metropolitan area network (MAN) architectures," added Urricariet.

About Finisar
Finisar Corporation (Nasdaq:FNSR) is a leading provider of fiber optic subsystems and network performance test systems which enable high-speed data communications over Gigabit Ethernet local area networks (LANs), Fibre Channel storage area networks (SANs), metropolitan data network applications (MANs), and CATV. The Company is focused on the application of digital fiber optics to provide a broad line of high-performance, reliable, value-added optical subsystems for networking, storage and telecommunications equipment manufacturers. The Company's headquarters are located at 1308 Moffett Park Drive, Sunnyvale, CA 94089. For more information, visit the Company's web site at http://www.finisar.com.

About VIPswitch
Launched in 1998, VIPswitch is the leading developer of a new class of Terabit Switch/Routers for Next Generation optical Ethernet MAN Service Providers. VIPswitch has developed an advanced networking architecture to deliver the missing link between Next Generation optical metro and the optical long haul. VIPswitch is a privately held company with offices in Boston and Montreal. For more information, please visit VIPswitch on the web at www.VIPswitch.com, send an email to info@VIPswitch.com or call 800/638-2677.

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 31, 2000, and other reports filed from time to time with the Securities and Exchange Commission.


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