FOR IMMEDIATE RELEASE

FREMONT, CA � January 11, 2002 � Read-Rite Corporation (Nasdaq: RDRT) today announced that it will release its first quarter 2002 financial results after the market closes on Wednesday, January 30, 2002.  You are invited to join the webcast and conference call, at 2:00 p.m. PT (5:00 p.m. ET).

 Read-Rite Corporation is one of the world's leading independent manufacturers of magnetic recording heads, head gimbal assemblies (HGAs) and head stack assemblies (HSAs) for disk drives and tape drives. The company is headquartered in Fremont, California and has operations in California, Thailand, the Philippines, Japan, Singapore and South Korea. The company's website is located at http://www.readrite.com. Read-Rite is also the majority shareholder of Scion Photonics, Inc., an integrated solution provider to the fiber optics industry whose offerings include advanced DWDM products, fiber optic assembly equipment and application specific photonic components. Scion's website is located at http://www.scionphotonics.com.