News Release

SAN DIEGO--(BUSINESS WIRE)--Jan. 27, 2009--Overland Storage, Inc. (Nasdaq: OVRL):

Who:              Overland Storage, Inc. (Nasdaq: OVRL) Executives:

                  Vernon A. LoForti, President and CEO

                  Kurt Kalbfleisch, Vice President and CFO

What:             Conference call and live audio Webcast

                  (http://www.overlandstorage.com/webcast):

                  Detailing financial results for the second fiscal quarter
                  ended December 31, 2008

When:             Thursday, Feb. 5, 2009

                  2:00 p.m. PST

                  A press release discussing earnings will be issued after the
                  market closing.

Call Info:        (800) 899-6991

                  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 line. To reserve a line, please call Jessica Sepulveda
                  at (858) 495-4232 or email her at
                  jsepulveda@overlandstorage.com

Audio

Replay Info:      Domestic: (800) 633-8284

                  International: (402) 977-9140

                  To access the replay, enter passcode 21413339. The audio
                  replay of the conference call will be available until 11:30
                  p.m. PST on February 27, 2009.

Webcast

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

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

CONTACT: Overland Storage, Inc.
Ravi Pendekanti, 858-495-4171

Source: Overland Storage, Inc.