FOR IMMEDIATE RELEASE

FREMONT, CA � February 21, 2002 - You are invited to listen to Read-Rite Corporation�s (Nasdaq: RDRT) Annual Meeting of Shareholders which will be broadcast live over the internet or via telephone on Thursday, February 28, 2002, at 10:00 a.m. PST (1:00 p.m. EST).  

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.