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Overland Storage Schedules Second Quarter Fiscal Year 2003 Financial Results Conference Call and Webcast

January 14, 2003

Who: Overland Storage, Inc. (Nasdaq: OVRL) executives: Christopher Calisi, President and CEO Vernon A. LoForti, Vice President and CFO

What: Conference call and live audio Webcast detailing second quarter fiscal year 2003 financial results ended Dec. 31, 2002, at: http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=ovrl&script=100&layout=6

When: Thursday, Jan. 23, 2003 10:30 a.m. EST A press release discussing earnings will be issued prior to the market opening.

Call Info: (888) 391-0089

Please dial-in at least five minutes prior to the start of the call.

NOTE: Pre-registration is required for access to the call via phone. To reserve a line, please call Aimee Reinard at (858) 503-4316 or email her at areinard@overlandstorage.com

Audio Replay Info: Domestic: (800) 633-8284

International: (402) 977-9140 To access the replay, enter passcode 21104298. The conference call audio replay will be available until midnight EST on Thursday, Jan. 30, 2003.

Webcast

Replay Info: To access an archived audio replay of the Webcast, please visit the audio archive section of our Website at: http://www.corporate-

ir.net/ireye/ir_site.zhtml?ticker=ovrl&script=1100&layout=6

The Webcast replay will become available approximately two hours after the completion of the call.

SOURCE Overland Storage, Inc.

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/PRNewswire-FirstCall -- Jan. 14/