SAN DIEGO –September 3, 2003 – Overland Storage, Inc. (Nasdaq: OVRL), the leading provider of backup and recovery solutions trusted by Fortune 10,000 companies to ensure zero downtime, today announced a new family of tape libraries designed to revolutionize the tape automation industry by providing customers with outstanding overall value.
Designed for storage area network operations, Overland will deliver the new NEO 8000 SERIES of enterprise libraries by the end of 2003. The family consists of a base model and numerous expansion models, each with unique storage capacity breakpoints. Capacity ranges from 100 to 500 cartridges in a 19-inch rack footprint making these the highest density libraries on the market.
Scalability Provides Investment Protection
To provide customers with the strongest investment protection available and easily enable future growth, the libraries utilize both internal and external scalability. Easy-to-implement capacity increases are field-enabled with a software key, and no hardware changes or additions are required. External scalability, due out in mid-2004 is accomplished through the implementation of Overland's Xpress channel technology and by horizontal connection of additional library modules in a side-by-side orientation.
"Overland's new NEO 8000 tape library offers enterprise-class features with a strong value proposition," said Robert Amatruda, research manager tape and removable storage at IDC. "Overland Storage will address an expanding group of value-conscious customers who have large tape automation requirements."
Patented Library Partitioning
Partitioning for the new NEO 8000 tape library provides an opportunity to simplify storage management with consolidation. Many IT organizations are frustrated by the need to maintain disparate and incompatible backup environments while at the same time knowing that centralization of their backups will reduce cost and improve reliability. Neo Series partitioning makes it possible to centralize these existing environments without expensive software conversions.
Built-in Self Monitoring Makes Nonstop Operation Easy
With built-in self-monitoring capabilities, the new libraries protect themselves from unexpected disruptions of service. Features such as drive performance monitoring, predictive failure notification and system fault isolation ensure that IT managers can correct potential problems before they occur.
"Overland invented library scalability, and our newest library family represents a fourth generation of scalable tape solutions," said Robert Scroop, vice president and general manager of Overland's storage resource business unit. "Each brings outstanding data protection features to the upper end of the mid-range library market and does so at a very attractive price."
The libraries include all the high-availability, nonstop features the market expects, for making the IT professional's task easier. In addition to full redundancy, hot-swap drive replacement and browser-based remote library monitoring and control, the system's robotics also includes NoTouch functionality. This innovative cartridge inventory routine ensures fast and accurate inventory of all tape cartridges within the system, whether barcode labels are applied or not.
Pricing and Availability
The end user price point for Overland's new family of libraries will be announced in mid September. This family of libraries will be delivered at a lower price point than any existing or announced comparable tape library in the upper end of the mid-range market today.
Selected Overland partners will begin offering these systems in December 2003.
About Overland Storage
Overland Storage, Inc. (NASDAQ: OVRL) is a leading global supplier of innovative hardware and software storage solutions for mid-range computer networks. The Company delivers high availability products, including award-winning automated storage libraries that set 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 website at www.overlandstorage.com.
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Additional NEO SERIES LXN 8000 Information
CONTACT INFORMATION:
OVERLAND STORAGE INVESTOR RELATIONS:
Cynthia A. Bond, Director of Corporate Communications
cbond@overlandstorage.com
(858) 571-5555
OVERLAND STORAGE PUBLIC RELATIONS:
Melinda Hutcheon, PR Manager
mhutcheon@overlandstorage.com
(858) 495-4187
MEDIA INQUIRIES:
Jamie Ernst
Brodeur Worldwide
jernst@brodeur.com
(310) 316-9335
Except for the factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties. The Company's actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include unexpected shortages of critical components, rescheduling or cancellation of customer orders, the timing and market acceptance of new product introductions by the Company and its competitors, and general competition and price pressures in the marketplace. Reference is also made to other factors set forth in the Company's filings with the Securities and Exchange Commission including the "Risk Factors", "Management's Discussion and Analysis" and other sections of the Company's Form 10-K for the most recently completed fiscal year.
