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Oclaro and Newport Close Deal to Exchange Strategic Assets

Oclaro to Become Leading Merchant Supplier of High Power Laser Diodes

Oclaro, Inc. announced it has closed the transaction announced on June 3, 2009 with Newport Corporation (NASDAQ: NEWP) under which Newport has acquired the New Focus business of Oclaro's Advanced Photonics Solutions division in exchange for the Newport Spectra Physics high power laser diodes business. Oclaro has also received $3 million in cash proceeds which is expected to fund related transition and integration costs.

With this transaction, Oclaro believes it becomes the largest merchant supplier to the high power laser diodes market. The Newport transaction complements the #1 or #2 position in the long haul and metro markets that Oclaro has achieved as a result of the merger of Bookham and Avanex. Oclaro's leading presence in key markets helps insure its ability to invest in R&D and innovate for the future. The transaction also increases the utilization of Oclaro's wafer fabrication facilities, which is expected to benefit the gross margin performance of products within its metro and long haul business as well as in its high power laser diodes business.

Further details on this transaction are available in the press release issued by Oclaro on June 3, 2009, and which is available in the investor relations section of www.oclaro.com.

About Oclaro Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its broad customer base with cost-effective and innovative optical solutions. The company's Advanced Photonics Division is chartered with driving Oclaro's diversification and growth into new markets, leveraging Oclaro's strong brand, chip design and manufacturing expertise. Oclaro is a global company, with leading chip fabrication facilities in the U.K., Switzerland and Italy, and manufacturing sites in the US, Thailand and China.

More information: http://www.oclaro.com


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