  A procedure for computing the dimensions of the moduli spaces of reducible,
holomorphic vector bundles on elliptically fibered Calabi-Yau threefolds X is
presented. This procedure is applied to poly-stable rank n+m bundles of the
form V + pi* M, where V is a stable vector bundle with structure group SU(n) on
X and M is a stable vector bundle with structure group SU(m) on the base
surface B of X. Such bundles arise from small instanton transitions involving
five-branes wrapped on fibers of the elliptic fibration. The structure and
physical meaning of these transitions are discussed.
