News ****OCLR & OPXT Oclaro: Opnext stockholders approve merger; Oclaro stockholders approve one of two merger-related proposals (OCLR) 2.43 +0.01 : Co and Opnext (OPXT) today provided an update regarding their proposed merger. At their respective stockholder meetings today, stockholders of Opnext approved the merger of the two companies. This approval was the final milestone needed from Opnext stockholders to close the merger. The stockholders of Oclaro were asked to approve two proposals. The first proposal was to issue Oclaro shares to the Opnext stockholders as consideration in the merger. This proposal was approved. Oclaro stockholders were also asked to approve a second proposal to increase the number of authorized shares, in order to have sufficient shares to deliver to the Opnext stockholders. During today's stockholder meeting, Oclaro received approximately 46% of the >50% majority vote needed to approve this proposal and close the merger. Of the votes cast today, approximately 89% were in favor of the proposal. As a result, Oclaro stockholders approved a proposal to adjourn the stockholder meeting until July 23, 2012, 5:00 p.m. PDT, at the company headquarters at 2560 Junction Ave., San Jose, California, in order to solicit the additional votes required to complete the merger.