Oplink Acquires RedClover

SAN JOSE, Calif. -- Oplink Communications, Inc. (Nasdaq: OPLK), a leading provider of optical networking components and subsystem design, integration and optical manufacturing solutions (OMS), today announced that it has entered into a definitive agreement to acquire substantially all of the assets, including intellectual property, of privately held RedClover Networks, Inc. Oplink will pay $250,000 in cash, assume certain liabilities of approximately $1.2 million and incur other costs of approximately $100,000. RedClover Networks designs and manufactures highly integrated, adaptive, and cost-effective broadband optical interface products for access, storage, metro, and long-haul networks. Its leading-edge adaptive universal 10Gb/s transponder (Transdaptor(TM)) is designed to be capable of transmission over 240 km of SMF-28 fiber without dispersion compensating fiber (DCF) modules, offering customers significant cost savings advantages. The acquisition illustrates Oplink's strategy to expand its core optical competencies and strengthen its higher-level integration capabilities to serve telecom, datacom and cable TV customers. Oplink believes that this acquisition will establish its capabilities in optical transmission technology, and further its position as a full-service optical networking subsystems designer, integrator and OMS provider. "The addition of transmission technology will significantly broaden Oplink's comprehensive capabilities to better serve our customers, who look to us to design and manufacture their most technically advanced equipment at highly competitive costs. We expect that RedClover's technology will give us access to new, high-growth market segments as well as enhance our existing business." In connection with the acquisition, Oplink will hire certain key employees who are expected to relocate to the Company's headquarters in San Jose, CA. All manufacturing will take place at the Company's facilities in China. The acquisition is expected to close in early November 2003 and is subject to various customary conditions. Oplink Communications Inc.