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
                  (http://www.overlandstorage.com/webcast):
                  Detailing financial results for the second quarter ended
                  December 31, 2005.

    When:         Thursday, January 26, 2006
                  9:30 a.m. EST
                  A press release discussing earnings will be issued prior to
                  the market opening.

    Call Info:    (888) 740-1975
                  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 Alisa Kesler
                  at (858) 503-4316 or email her at
                  akesler@overlandstorage.com.

    Audio
    Replay Info:  Domestic: (800) 633-8284
                  International: (402) 977-9140
                  To access the replay, enter passcode 21281993.  The audio
                  replay of the conference call will be available until
                  12:30 p.m. EST on Friday, February 17, 2006.

    Webcast
    Replay Info:  To access an archived audio replay of the Webcast on the
                  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.


SOURCE  Overland Storage, Inc. 
 
    /Web site:  http://www.overlandstorage.com/replay /
 
    /Web site:  http://www.overlandstorage.com/webcast /
 
    (OVRL)