SAN DIEGO -- Sorrento Networks (Nasdaq:FIBR), a leading supplier of end-to-end, intelligent optical networking solutions for metro and regional applications, announced today that cash proceeds from the merger of NetSilicon and Digi International (Nasdaq:DGII) amounted to $13,574,000. In addition to the cash distribution, Sorrento also received 2,325,000 shares of Digi International common stock or approximately $13,253,000 in equivalent marketable securities, as of March 5, 2002, representing an 11 percent ownership of the total outstanding shares of Digi International. "We are pleased with the results of the merger and are very supportive of Digi International's efforts to position their company for future growth and enhanced shareholder value," said Joe R. Armstrong, CFO of Sorrento Networks. "The cash and securities obtained in the merger has allowed Sorrento Networks to gain liquidity from a major asset that has been held on the Company's books since the IPO of Net Silicon in 1999. This transaction leaves Sorrento with a substantial equity holding in Digi International that can be monetized at a later date." In other news the company announced that an earnings conference call for its fourth quarter and fiscal 2002 year-end of Jan. 31, 2002 will be held on Thursday, March 28, 2002 at 1:30 p.m. PST. The call will be Webcast and information regarding the Webcast can be obtained from the company's Web site at www.sorrentonet.com. Sorrento Networks Corp.