Finisar Announces Successful Completion of Acquisition of 100% of Ignis

SUNNYVALE, CA, Jul 05 (MARKET WIRE) --
Finisar Corporation (NASDAQ: FNSR) reported today that it has
successfully completed its acquisition of the entire equity interest in
Ignis ASA, a Norwegian company whose shares are currently listed on the
Oslo Stock Exchange (OSLO: IGNIS). As a result of its
previously-announced recommended voluntary public offer and subsequent
mandatory public offer to acquire all outstanding Ignis shares at a cash
NOK 8 per share, Finisar acquired approximately 97.25% of the outstanding
Ignis shares and subsequently acquired the remaining shares through the
compulsory transfer provisions of Norwegian law.

Ignis is applying to the Oslo Stock Exchange for the delisting of its
shares. The Exchange has suspended trading in the Ignis shares pending
delisting.

SEB Enkilda has acted as Finisar's financial advisor, and DLA Piper has
acted as Finisar's legal advisor, in connection with Finisar's
acquisition of Ignis.

About Ignis

Ignis ASA is an innovative provider of optical components and network
solutions for fiber optic communications. The company operates globally
through four subsidiaries: Fi-ra Photonics in Korea (71.8% owned) and
wholly-owned subsidiaries Syntune in Sweden, Ignis Photonyx in Denmark,
and SmartOptics in Norway. Ignis's product and services portfolio
comprises passive optical components including optical chips, splitters
and multiplexers, active optical components such as tunable lasers and
modulators, and WDM-based solutions enabling the building of simple and
cost effective high-capacity optical networks. Headquartered in Oslo,
Norway, Ignis ASA is listed on the Oslo Stock Exchange under the OSE
ticker IGNIS. www.ignis.com

About Finisar

Finisar (NASDAQ: FNSR) is a global technology leader for fiber optic
subsystems and components that enable high-speed voice, video and data
communications for telecommunications, networking, storage, wireless, and
cable TV applications. For more than 20 years, Finisar has provided
critical optics technologies to system manufacturers to meet the
increasing demands for network bandwidth and storage. Finisar is
headquartered in Sunnyvale, California, USA with R&D, manufacturing
sites, and sales offices worldwide. For additional information, visit
www.finisar.com.

Additional Information

This press release is not an offer to purchase shares of Ignis. A notice
is being separately sent to those former Ignis shareholders whose shares
have been compulsorily transferred to Finisar advising them of Finisar's
decision and related information. The notice contains important
information about the compulsory transfer. Former Ignis shareholders
affected by it are urged to read the notice carefully when it becomes
available.

Contacts:
Investor Contact:
Kurt Adzema
Chief Financial Officer
+1 408-542-5050
Investor.relations@Finisar.com

Press Contact:
Victoria McDonald
Sr. Manager, Corporate Communications
+ 1 408-542-4261

Copyright 2011, Market Wire, All rights reserved.

-0-