Oplink Expands Technology Portfolio and Advances Photonic Foundry Strategy.

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--March 9, 2004

Oplink Communications, Inc. (Nasdaq:OPLK), a leading Photonic Foundry and provider of optical networking components, today announced the acquisition of privately held Accumux Technologies, Inc., adding important tunable dispersion compensation technology to its photonic hardware service offerings.

This acquisition expands Oplink's portfolio of leading edge tunable dispersion compensation module (TDCM) technologies. The TDCM technology developed by Accumux allows for tunability, multi-channel compensation in the entire C-band, independent slope correction, zero nonlinearity, low ripples in insertion loss and group delay, low polarization dependent loss and low polarization mode dispersion, all in one compact size.

Oplink has continued to strengthen its integrated photonic-electronic design and manufacturing services capabilities both at its San Jose, CA and offshore facilities in Zhuhai, China, and through this, has created the industry's leading Photonic Foundry business model, offering customers the lowest cost products and services. Oplink will continue to expand its leading edge photonic foundry capabilities to include an even broader range of subsystem and system level hardware solutions, which expand network capacity and extend network reach for its customers.

"With our integrated passive and active hybrid design service and full service offshore manufacturing capabilities, Oplink offers the most competitive and comprehensive Photonic Foundry Solutions in the industry," stated Mr. Joe Liu, President and CEO of Oplink. "We will continue to strengthen our business model and enhance our Photonic Foundry leadership position through the acquisitions of leading complementary transmission technologies."

About Oplink

Incorporated in 1995, Oplink is a leading provider of design, integration and optical manufacturing solutions (OMS) for optical networking components and subsystems. The Company offers advanced and cost-effective optical-electrical components and subsystem manufacturing through its facilities in Zhuhai, China. In addition, Oplink maintains a full complement of optical-centric front-end design, application, and customer service functions at its headquarters in San Jose, California. The Company's customers include telecommunications, data communications and cable TV equipment manufacturers around the globe. Oplink is committed to providing fully customized, Photonic Foundry services which incorporate its subsystems manufacturing capabilities. To learn more about Oplink, visit its web site at: http://www.oplink.com/.

This news release contains forward-looking statements, including statements regarding Oplink's ability to acquire and effectively integrate additional technologies and achieve market acceptance with respect to its new products and designs, that involve risks and uncertainties which may cause Oplink's actual results to differ substantially from expectations. These risks include, but are not limited to, the potential widespread downturn in the overall economy in the United States and other parts of the world and the telecommunications industry, including reductions in telecommunication spending activity, possible reductions in customer orders, challenges to successfully integrate and realize anticipated benefits of acquisitions of businesses or technologies, our reliance upon third parties to supply our raw materials and equipment, intense competition in our target markets and potential pricing pressure that may arise from changing supply-demand conditions in the industry, the need to retain and motivate key personnel, risks associated with the protection of our, and possible infringement of others', intellectual property, and other risks detailed from time to time in our periodic reports filed with the Securities and Exchange Commission, including our quarterly report filed on Form 10-Q for the quarter ended December 31, 2003.

The foregoing information represents Oplink's outlook only as of the date of this press release, and Oplink undertakes no obligation to update or revise any forward-looking statements, whether as a result of new developments or otherwise.