OCZT - OCZ Technology Group, Inc. Goes Public on OTCBB

Funding to Enable Continued Development of its SSD Business

OCZ Technology Group, Inc. (OTCBB:OCZT), a leader in high performance and reliable memory and flash-based storage as an alternative to hard disk drives (HDDs), has closed $15.45 million in funding in order to support its growing solid state drive (SSD) business.

Through the transaction, OCZ sold 5,151,662 shares of its common stock (approximately $15.45 million in the aggregate) to several institutional investors. The transaction includes warrants to purchase an aggregate of an additional 2,575,831 shares of common stock. The warrants are immediately exercisable, have a term of five years and contain certain other features. Merriman Curhan Ford (NASDAQ:MERR) acted as the exclusive placement agent for the transaction.

"Over the course of the last few years, we have met the demand for a better storage option head-on, by delivering high performance solid state disk drives to a wide array of customer's globally" said Ryan Petersen, President and Chief Executive Officer of OCZ Technology Group. "This round of funding will enable OCZ to continue its growth in SSDs and accelerate the development of next-generation solutions."

Mr. Petersen further commented, "We believe that OCZ is well-positioned to advance the deployment of flash-based storage solutions. OCZ will continue to design, develop and implement SSD technology with its current base of over 300 customers while opening up new markets through targeting enterprise and OEM customers seeking to adopt flash media as primary storage."

Mr. Petersen concluded, "We very much appreciate the efforts of Merriman who recognized the potential in our markets, understood the intrinsic value in OCZ and worked closely with us to bring this transaction to a successful conclusion."

About OCZ Technology Group, Inc.

Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. ("OCZ"), is a leader in the design, manufacturing, and distribution of high performance and reliable Solid State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well leading-edge computer gaming solutions. For more information, please visit: www.ocztechnology.com.

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