MRV, Luminent Set Merger Terms

CHATSWORTH, Calif. -- MRV Communications, Inc. (Nasdaq:MRVC) and Luminent, Inc. (Nasdaq:LMNE) jointly announced today that MRV has established the exchange ratio to affect the previously announced short-form merger of Luminent, its 92.3% owned subsidiary. Each outstanding share of Luminent common stock (except for shares presently held by MRV and shares held by Luminent stockholders who perfect their statutory appraisal rights under Delaware law) will be converted in the merger, entitling each such Luminent stockholder to 0.43 of a share of MRV common stock. MRV will therefore issue up to 5,160,000 shares of its common stock to the stockholders of Luminent. The merger is still subject to the satisfaction of certain conditions including regulatory approvals. MRV Communications Inc.
Luminent Inc.