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MRV Sends Letter to Stockholders
Wednesday, September 16, 2009 4:53 PM


(Source: Business Wire)trackingMRV COMMUNICATIONS, INC. (Pink Sheets: MRVC) ("MRV" or the "Company") today sent the following letter to stockholders.

September 16, 2009

Dear Fellow Stockholder:

MRV has faced a number of challenges recently, some of which limited our ability to communicate with you, but we believe that we are on the right path and poised to put our recent issues behind us. We are writing today to provide you with an update on some of the most recent developments at the Company.

On August 31, 2009 we announced that the staff of the Securities and Exchange Commission ("SEC") completed its investigation of MRV's historical stock option grants and practices and does not intend to recommend any enforcement action. We are pleased with the outcome of this matter.

We are working hard to finalize the restatement of our financial results and plan to hold our Annual Meeting in November. Once the restatement is complete, we look forward to sharing with you our historical results and our plans to create future stockholder value.

MRV is committed to strong corporate governance and, as part of our long-term plan we are strengthening our Board of Directors. As we previously communicated, we have already implemented recommendations of the Board's Special Committee, including appointing two co-Presidents to strengthen upper management, and the hiring of a General Counsel and internal auditor to improve legal and regulatory compliance. We are also conducting a thorough search for qualified Board members who can make a positive contribution to MRV. The Company recently appointed Michael E. Keane, Senior Vice President and Chief Financial Officer of Clipper Windpower, Inc. to the Board, and will be adding additional qualified Directors. Michael, who has more than 30 years of experience in accounting, finance and corporate governance, was previously the Chief Financial Officer of Computer Sciences Corporation, a $16.5 billion company, and of Unova, Inc.

MRV has a rich 20-year history of unique innovation and excellence in engineering. We leverage our top notch engineering resources to create products, solutions, services and value for our customers, including both large and emerging telecommunications carriers, enterprise customers, utilities and state and local governments.Our innovative products also make a contribution to our national security.



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