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Overland Now The Fastest Growing Provider Of LTO libraries

Freeman Reports, a California-based research firm specializing in the computer storage industry, recently stated that Overland Storage now leads the industry in shipments of DLT/SDLT libraries with 49 percent of all units sold in 2002. The 2003 Freeman Tape Library Outlook report also states that sales of LTO libraries from Overland increased more than three fold during the same period, making Overland the fastest growing provider of LTO tape automation solutions in the industry.

"Overland's overall revenue growth and market share gain during this economic environment is significant," said Robert Abraham, president of Freeman Reports. "Not only is Overland thriving in these difficult economic times, but it is showing leadership by its quick entry into the LTO market. These actions contribute to Overland's leadership position in the industry."

Overland's award-winning Neo Series tape libraries is considered to be the "best-of-breed" in the mid-range tape storage segment, based on its true modular, field scalability and highly fault-tolerant design.

In November 2002, Overland announced its collaboration with Hewlett-Packard to integrate LTO Generation 2 in the Neo Series, offering Neo customers the largest capacity and fastest performance tape drive available.

"The legacy we are building with our strong customer focus, superior product features, loyal resellers and ability to expand into new markets has solidified the leadership position of the company within the industry," said Christopher Calisi, president and CEO of Overland Storage. "This report is further evidence that Overland is poised to capture more market share in the coming year, emerging stronger and healthier than our competitors."

About Overland Storage

Overland Storage Inc is a leading global supplier of innovative hardware and software storage solutions for mid-range computer networks. The company's reputation for delivering high availability products, including its award-winning automated storage libraries and the industry's first family of fully open storage management software solutions, sets the standard for intelligent, automated and scalable storage. Overland sells its products worldwide through leading OEMs, commercial distributors, storage integrators and value-added resellers. For more information, visit Overland's Web site at www.overlandstorage.com.

Contact: Cynthia A. Bond, Director of Corporate Communications of Overland Storage, 858-571-5555, cbond@overlandstorage.com.