Avanex Approves 15-to-1 Reverse Stock Split

Avanex's Board of Directors approved a reverse split of its common stock at a ratio of 15-for-1, with a planned effective date of August 12, 2008. Accordingly, as of the effective date, each fifteen shares of issued and outstanding common stock and equivalents will be converted into one share of common stock. http://www.avanex.com