Class Action Suit Filed By Hagens Berman Against Osicom Technologies, Inc. and Certain of its Officers and Directors for Violations of the Federal Securities Laws.

SEATTLE--(BUSINESS WIRE)--April 24, 1999--

A class action has been commenced in the United States District Court for the District of Colorado on behalf of all purchasers of the common stock of Osicom Technologies, Inc. (Nasdaq: FIBR) during the period from July 2, 1998 through April 20, 1999 (the "Class Period").

The complaint charges that FIBR and certain of its officers and directors with violations of the federal securities laws. Specifically, plaintiffs have brought claims sections 10(b) and 20 of the Securities Exchange Act of 1934.

The complaint alleges that FIBR and certain of its officers and directors participated in a fraudulent scheme by issuing materially false and misleading statements regarding Osicom's exclusive agreement to supply products to a major customer. The complaint alleges that these misrepresentations caused FIBR shares to trade at an artificially inflated price during the Class Period.

Specifically, the Complaint alleges that Osicom and certain of its officers and directors misrepresented the status of Osicom's exclusive agreement to supply wireless personal digital assistant "PDA" equipment to a major customer in Japan. In its July 1, 1998 press release, Osicom Technologies estimated the value of that PDA agreement at $90 million. But by April 21, 1999, Osicom's CEO admitted that the PDA agreement was for a mere $175,000 in engineering work. In reaction to this admission, Osicom shares plunged 49 percent.

The Plaintiff seeks to recover damages on behalf of all purchasers of Osicom Technologies, Inc. during the Class Period (the "Class"). The plaintiff is represented by Hagens Berman, P.S. Hagens Berman has concentrated its practice in the field of class action and multi-plaintiff litigation, representing plaintiffs in numerous securities and investment fraud actions throughout the country. Hagens Berman has been appointed lead or co-lead counsel on behalf of defrauded investors, including individual and institutional shareholders in numerous complex financial cases, and has been responsible for many large recoveries which, in the aggregate, total more than $260 billion. For more information about the firm, visit our website at www.Hagens-Berman.com

If you are a member of the Class described above, you may, no later than 60 days from the date of this notice move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel Steve W. Berman or Karl P. Barth at Hagens Berman, P.S. at [phone] or toll free at [phone] or via e-mail at [e-mail].