Avanex Regains Compliance Related to Nasdaq Minimum Bid Price Rule

Avanex Corporation (NASDAQ:AVNX), a pioneering provider of intelligent photonic solutions enabling next-generation optical networks, today announced that it received a letter from The Nasdaq Stock Market on June 10, 2008, indicating that the Company has regained compliance with the $1.00 per share minimum closing bid price requirement for continued listing on the Nasdaq Global Market, pursuant to Nasdaq Marketplace Rule 4450(a)(5). In the letter, Nasdaq advised the Company that the matter of the Company’s compliance with the requirement is now closed.

About Avanex

Avanex Corporation meets the needs of fiber optic communications networks for greater capacity, longer distance transmissions, improved connectivity, higher speeds and lower costs. Our solutions enable optical wavelength multiplexing, dispersion compensation, switching and routing, transmission, and amplification, and include network-managed subsystems. Avanex Corporation, incorporated in 1997, is headquartered in Fremont, California, and maintains facilities in New York, Florida, China, France, Italy, and Thailand. To learn more about Avanex Corporation, visit our Web site at: www.avanex.com.

Contacts

Avanex Corporation
Brooke Deterline, 415-775-1788 (Investor Relations)
IR {at} Avanex(.)com