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OCZ Technology Appoints Rafael Torres as Chief Financial Officer

OCZ Technology Appoints Rafael Torres as Chief Financial Officer 
High-Tech Financial Executive to Lead OCZ's Global Finance
Organization  
SAN JOSE, CA  -- (Marketwire) -- 03/25/13 --  OCZ Technology Group,
Inc. (NASDAQ: OCZ), a leading provider of high-performance
solid-state drives (SSDs) for computing devices and systems, today
announced the appointment of Rafael Torres as Chief Financial Officer
(CFO) reporting directly to Ralph Schmitt, Chief Executive Officer
(CEO) effective immediately. Torres, age 45, joins OCZ with over 15
years of experience as a senior leader in finance and over 10 years
serving as CFO. Torres replaces Arthur Knapp, age 64, who is leaving
the Company to begin his retirement.  
"We are very excited that Rafael has joined our team as CFO and
believe that his proven track record in all aspects of financial
management will provide immediate benefits to our Company," said
Ralph Schmitt, CEO for OCZ Technology. "We also would like to take
this opportunity to thank Art Knapp for his nine years of service to
OCZ as CFO and wish him the very best in his retirement. Art helped
build OCZ to be a leading provider of solid-state storage and power
management solutions, and will continue to assist us as we complete
our restatement. He played a critical role in first identifying and
then rectifying the problems surrounding our recent financial
reporting." 
"I enjoyed being involved with a very talented team who built a multi
hundred million dollar SSD business basically from scratch," stated
Art Knapp, Retiring CFO for OCZ Technology. "While we uncovered some
issues in recent times, with achievements such as the recent
financing, I feel that we have made significant progress to put the
Company back on the right path. Rafael will inherit a good business,
with clean financials, to use as a base to build a profitable
business." 
Prior to joining OCZ, Torres served as CFO and Vice President of
Finance for Capella Photonics where he successfully raised new
capital and developed a financial infrastructure to support a
fast-growing start-up. Before joining Capella, Torres was the CFO and
Vice President of Finance for Power Integrations (NASDAQ) where he
led a financial turnaround that he successfully achieved. Prior to
that, Torres was CFO and Vice President of Finance for PLX Technology
(NASDAQ) and through his leadership, returned the company to
profitability and significantly increased their cash position. 
"I am very excited to join OCZ at this time of its evolution being
highly regarded for its technological advances and extensive
portfolio of award-winning client and enterprise solid-state drives
and power supply units," said Rafael Torres. "My skill set and
experience in strategic business planning, risk management, SEC
reporting, treasury operations, accounting and tax management are an
ideal fit for helping make an immediate contribution to the success
of the Company moving forward." 
Mr. Torres holds a Bachelors of Science degree in Accounting from
Santa Clara University and is a Certified Public Accountant.  
About OCZ Technology Group, Inc.
Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. (OCZ)
is a global leader in the design, manufacturing, and distribution of
high-performance solid-state storage solutions and premium computer
components. Offering a complete spectrum of solid-state drives
(SSDs), OCZ provides SSDs in a variety of form factors and interfaces
(i.e. PCIe, SAS and SATA) to address a wide range of client and
enterprise applications. Having developed firmware and controller
platforms, to virtualization and endurance extending technologies,
the company delivers vertically integrated solutions enabling
transformational approaches to how digital data is captured, stored,
accessed, analyzed and leveraged by customers. For more information,
please visit: www.ocztechnology.com. 
Forward Looking Statements
Certain statements in this release relate to future events and
expectations and as such constitute forward-looking statements
involving known and unknown factors that may cause actual results of
OCZ Technology Group, Inc. to be different from those expressed or
implied in the forward-looking statements. In this context, words
such as "will," "would," "expect," "anticipate," "should" or other
similar words and phrases often identify forward-looking statements
made on behalf of OCZ. It is important to note that actual results of
OCZ may differ materially from those described or implied in such
forward-looking statements based on a number of factors and
uncertainties, including, but not limited to, the risk that
additional information may arise from the oversight of the audit
committee; the risk that the process of preparing and auditing the
financial statements or other subsequent events would require OCZ to
make additional adjustments; the time and effort required to complete
the restatement of the financial reports; the ramifications of OCZ's
potential inability to timely file required reports; including
potential delisting of OCZ's common stock on NASDAQ; the risk of
litigation or governmental investigations or proceedings relating to
such matters; the risk that OCZ may not be able to successful
negotiate an amendment to its credit facility; market acceptance of
OCZ's products and OCZ's ability to continually develop enhanced
products; adverse changes both in the general macro-economic
environment as well as in the industries OCZ serves, including
computer manufacturing, traditional and online retailers, information
storage, internet search and content providers and computer system
integrators; OCZ's ability to efficiently manage material and
inventory, including integrated circuit chip costs and freight costs;
and OCZ's ability to generate cash from operations, secure external
funding for its operations and manage its liquidity needs. Other
general economic, business and financing conditions and factors are
described in more detail in "Item 1A -- Risk Factors" in Part I in
OCZ's Annual Report on Form 10-K filed with the SEC on May 14, 2012,
and statements made in other subsequent filings. The filing is
available both at www.sec.gov as well as via OCZ's website at
www.ocztechnology.com. OCZ does not undertake to update its
forward-looking statements.
All trademarks or brand names referred to herein are the property of
their respective owners. 
OCZ Press Contact:
Scott Harlin
Director of Marketing Communications - Enterprise
(408) 440-3484
sharlin@ocztechnology.com 
OCZ Investor Relations Contact:
Bonnie Mott
Senior Manager of Investor Relations
(408) 440-3428
bmott@ocztechnology.com