Oclaro Announces Offering of Common Stock
April 29, 2010

SAN JOSE, Calif.,  -- Oclaro, Inc. (Nasdaq: OCLR), announced today that it has commenced a public offering of 6,000,000 shares of its common stock. All shares will be offered by the Company. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The net proceeds from this offering will be used for general corporate purposes, including working capital. A portion of the net proceeds may be used to acquire or invest in complementary businesses, products or technologies. Morgan Stanley & Co. Incorporated and Citigroup Global Markets, Inc. will be joint book-running managers, and Foros Securities LLC and Thomas Weisel Partners LLC will be co-managers of the offering.

As previously announced, the Company will effect a 1-for-5 reverse split of its common stock, effective as of 6:00 pm (ET) today. As a result, our common stock will temporarily trade under the symbol "OCLRD" until on or about May 28, 2010. The number of shares presented in this release is on a post-split basis.