updated 4/14/2011 2:15:13 AM ET 2011-04-14T06:15:13

SAN JOSE, Calif., April 13, 2011 (GLOBE NEWSWIRE) -- OCZ Technology Group, Inc. (Nasdaq:OCZ), a leading designer, manufacturer and distributor of high-performance solid state drives, today announced the closing of its previously announced public offering of 10,200,000 primary shares of its common stock at a price of $8.50 per share. The underwriters exercised their over-allotment option in full thereby increasing the number of primary shares sold by 1,530,000 shares.

OCZ received approximately $94 million in net proceeds from the offering, which includes the over-allotment option being exercised in full, after deducting underwriting discounts and commissions and estimated offering expenses. OCZ intends to use the net proceeds from the offering for general corporate purposes.

Stifel Nicolaus Weisel and Needham & Company, LLC acted as joint book-running managers for the offering. Craig-Hallum Capital Group and Merriman Capital served as co-managers for the offering. ROTH Capital Partners acted as an advisor to the Company.

A shelf registration statement relating to the offering of the common stock was filed with the U.S. Securities and Exchange Commission on March 4, 2011 and has become effective. The offering is being made only by means of a prospectus supplement and accompanying prospectus, forming an effective part of the registration statement. Before investing, you should read the prospectus supplement and the accompanying prospectus for information about OCZ Technology Group, Inc. and this offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A copy of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC's website at  www.sec.gov  or by contacting Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, or by calling 415-364-2720.

About OCZ Technology Group, Inc.

Founded in 2002, OCZ Technology Group, Inc. (OCZ) is a leader in the design, manufacturing, and distribution of high performance and reliable solid-state drives (SSDs). 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). In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products. For more information, please visit: www.ocztechnology.com .

The OCZ Technology Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7439

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the "Risk Factors" section of our prospectus supplement and accompanying prospectus, forming an effective part of the registration statement on Form S-3, and other required reports, as filed with the SEC, which are available free of charge on the SEC's website at www.sec.gov or on our website at www.ocztechnology.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.

CONTACT: Investor Relations Contact:
         OCZ Technology Group, Inc.
         Bonnie Mott, Investor Relations Manager
         408-440-3428
         bmott@ocztechnology.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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