OpNext, Inc., a global supplier of active fiber optic components and modules, announced it has closed a $321 million investment from Clarity Group, an equal partnership between Clarity Partners, a Los Angeles-based private equity investment firm, and Marubeni Group, a Japan-based trading house.

OpNext will use this capital to expand its manufacturing capacity, establish a worldwide sales and marketing team, grow its research and development program and develop products to meet the future needs of its customers.

OpNext will be launching a line of 40 Gb/s transceiver modules in 2002 that will be designed to offer the fastest optical transmission available, and will continue to expand its range of active components and modules.

OpNext, Inc.:

OpNext, Inc. is a global supplier of optical components and modules for the data and telecommunications industries. OpNext was formed from the Fiber Optic Components Business Unit of Hitachi Ltd.'s (NYSE: HIT; YSE: 6501) Telecommunications & Information Infrastructure Systems Group. For more information, visit www.opnext.com.