Osicom Becomes Sorrento

SAN DIEGO, Calif. -- Osicom Technologies' (Nasdaq:FIBR - news) shareholders approved yesterday the change of the company's name to Sorrento Networks Corporation in recognition of the growth and momentum created by its flagship optical networking subsidiary.

The name change was one of six major initiatives approved yesterday at the company's annual shareholder meeting in San Diego. In line with the company's plan, announced in September 2000, to enhance the value of its flagship subsidiary, Sorrento Networks, the company's shareholders also elected the company's board of directors, increased the number of authorized shares of common stock to 150 million, approved the company's stock option plan, and approved the employee stock purchase plan. Sorrento Networks Corporation will continue to trade on the NASDAQ under the symbol FIBR.

"Now that we are a `pure play' in the optical networking space, it is appropriate that our name reflects our new focus," said Xin Cheng, CEO of Sorrento Networks Corporation. "The marketplace has demonstrated strong demand for our portfolio of optical networking products and we have made changes to the company to capitalize on that opportunity. The new management team and the entire company are now focused on maintaining our momentum and continuing our strong growth."

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