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Overland Storage to Present at RBC Capital Markets North American Technology Conference

July 29, 2004

SAN DIEGO, July 29 /PRNewswire-FirstCall/ -- Overland Storage, Inc. (Nasdaq: OVRL), the leading provider of backup and recovery solutions, will present at the RBC Capital Markets North American Technology Conference on Monday, August 2, 2004. Christopher Calisi, Overland president and CEO, and Vern LoForti, vice president and CFO, will provide an overview of the company, its growth strategy and trends affecting the storage industry. The RBC Capital Markets North American Technology Conference will be held at The Ritz-Carlton Half Moon Bay in California, August 1 - 4, 2004. For additional details, contact RBC Capital Markets at 612.371.7752 or visit http://www.rbccm.com/0,,cid-17267_,00.html.

About Overland Storage

For more than 20 years, Overland Storage has delivered world-class data protection solutions designed to ensure business continuity. Focused on backup and recovery, Overland's data protection solutions are designed for midrange-computer environments. These include NEO SERIES, the award-winning automated storage libraries that set the standard for intelligent, automated and scalable storage, and REO, the disk-based backup and recovery acceleration appliance. 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.

Except for the factual statements made herein, the information contained in this news release consists of forward-looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Words and expressions reflecting optimism and satisfaction with current prospects, as well as words such as "believe," "intends," "expects," "plans," "anticipates" and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward looking. Such forward-looking statements are not guarantees of performance and the company's actual results could differ materially from those contained in such statements. Factors that could cause or contribute to such differences include difficulty of predicting sales to the company's major OEM customer, technology spending levels, unexpected shortages of critical components, rescheduling or cancellation of customer orders, loss of a major customer, the timing and market acceptance of new product introductions by the company, including the launch of the company's new REO products, its competitors or its licensees, the timing and amount of licensing royalties, general competition and price pressures in the marketplace, the company's ability to control costs and expenses and economic conditions. 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. These forward-looking statements speak only as of the date of this release and the company undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

All trademarks, trade names, service marks, and logos referenced herein belong to their respective companies.

SOURCE Overland Storage

CONTACT: Investor Relations, Cynthia A. Bond, Director of Corporate Communications, +1-858-571-5555, cbond@overlandstorage.com,
or Media Inquiries, Melinda Hutcheon, PR Manager, +1-858-495-4187, mhutcheon@overlandstorage.com, both of Overland Storage;
or Media Inquiries, Jamie Ernst of Brodeur Worldwide, +1-210-495-5757, jernst@brodeur.com, for Overland Storage

Web site: http://www.rbccm.com/0,,cid-17267_,00.html

Web site: http://www.overlandstorage.com