News Release

     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 fourth quarter
             and full fiscal year 2002 financial results ended June 30, 2002
             at: http://www.corporate-
             ir.net/ireye/ir_site.zhtml?ticker=OVRL&script=1010&item_id=613774

     When:   Wednesday, Aug. 14, 2002
             10:30 a.m. (EDT)
             A press release discussing earnings will be issued prior to the
             market opening.

     Call
     Info:   800-576-7258
             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 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 20809038.  The audio replay
             of the conference call will be available until 12:30 p.m. EDT on
             Sunday, Aug. 18, 2002.

     Webcast
     Replay
     Info:   To access an archived audio replay of the Webcast on the
             Internet, please visit our audio archive section of our website
             at: http://www.corporate-
             ir.net/ireye/ir_site.zhtml?ticker=ovrl&script=1100.

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

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CONTACT:          Aimee Reinard of Overland Storage, Inc, +1-858-503-4316,
                  areinard@overlandstorage.com
                  (OVRL)

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