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Compellent Announces Proposed Public Offering

For an underwritten offering of 3 million shares of its common stock

Compellent Technologies, Inc. filed a registration statement with the Securities and Exchange Commission for an underwritten offering of 3,000,000 shares of its common stock.

The shares of common stock expected to be sold in the offering include 300,000 shares to be sold by Compellent and 2,700,000 shares to be sold by existing stockholders of Compellent. Compellent will not receive any proceeds from the sale of shares by the selling stockholders. Compellent expects to grant the underwriters of the offering an option to purchase additional shares of common stock constituting up to 15 percent of the total number of shares offered. There can be no assurance as to whether or when any such offering would be commenced or completed or as to the actual size or terms of any such offering.

Morgan Stanley & Co. Incorporated and Piper Jaffray & Co. will act as joint book-running managers of the proposed offering. Thomas Weisel Partners LLC, Needham & Company, LLC, Pacific Crest Securities, Merriman Curhan Ford & Co., and Craig-Hallum Capital Group will act as co-managers.

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