FOR IMMEDIATE RELEASE
READ-RITE ANNOUNCES NEW SUPPLY AGREEMENT WITH QUANTUM FOR Super DLTtape� data CONTROL MODULES
MILPITAS, CA � April 27, 2000 -- Read-Rite Corporation (Nasdaq: RDRT) today announced Read-Rite and Quantum Corporation�s DLT & Storage Systems Group (NYSE: DSS) have signed a supply agreement for Read-Rite to produce Data Control Modules for Quantum's Super DLTtape� technology tape-drive products. This agreement follows the Development Agreement under which Read-Rite has developed magnetoresistive (MR) recording heads for Super DLTtape, establishing Read-Rite as a strategic manufacturing and technology partner to Quantum. Under the terms of the new supply agreement, Read-Rite will manufacture the Data Control Module (DCM) for the Super DLTtape-based products, which includes the Read-Rite head assembly, optical servo, tape guiding mechanisms, baseplate, and take up reel in its factory in Manila, Philippines.
"Quantum and Read-Rite have been working closely in the development of this new head technology and we are pleased that Quantum has selected Read-Rite to supply the Data Control Module for the Super DLTtape� tape-drive products," said Cyril J. Yansouni, chairman and chief executive officer of Read-Rite Corporation. "This agreement expands our relationship with Quantum, leveraging not only our core head technology but also Read-Rite�s world class manufacturing operations."
"Super DLTtape�s unique, modular design leverages Read-Rite�s leadership in tape head technology and low cost manufacturing" adds William Boles, vice president of marketing, Quantum�s DLTtape Division. "This agreement exemplifies the unparalleled industry wide support for Super DLTtape technology, the next generation tape storage platform designed to meet the growing needs of today�s e-businesses."
About Read-Rite
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 Milpitas, California and has operations in Japan, Thailand, the Philippines and Singapore. The company�s home page on the world wide web can be reached at http://www.readrite.com.
About Super DLTtape Technology
With more than 1.4 million DLTtape drives and over 45 million DLTtape media cartridges installed to date, DLTtape technology is the defacto standard for back up and archiving of business-critical data from mid-range servers and high-end workstations. Information on the DLTtape platform can be found at http://www.DLTtape.com Information about Super DLTtape can be found at www.DLTtape.com/super_dlttape
About Quantum
Founded in 1980, Quantum Corporation (www.quantum.com) is the world�s leading storage supplier in four of the six markets it serves: desktop hard disk drives, tape drives, network attached storage (NAS) appliances and solid state systems. Quantum is also the second largest supplier of mid-range tape automation systems and a leading supplier of high capacity hard disk drives. Selling its products through OEM and distribution channels worldwide, Quantum's sales for the fiscal year ending March 1999 were $4.9 billion. In 1999 Quantum became the first Silicon Valley company to issue tracking stock, replacing its existing common stock with the ticker symbols DSS and HDD, which track the separate performance of the company's DLT and Storage Systems and Hard Disk Drive businesses. Both stocks are traded on the New York Stock Exchange. Quantum Corp., 500 McCarthy Blvd., Milpitas, Calif., 95035, http://www.quantum.com , phone: 408 894-4000.
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 Milpitas, California and has operations in Japan, Thailand, the Philippines and Singapore. The company�s home page on the world wide web can be reached at http://www.readrite.com.
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