FOR IMMEDIATE RELEASE

READ-RITE BREAKS AREAL DENSITY BARRIER ACHIEVING WORLD RECORD OF 130 GIGABITS PER SQUARE INCH

FREMONT, CA � April 29, 2002 -- Read-Rite Corporation (Nasdaq: RDRT) today announced the achievement of a new areal density data storage world record of 130 billion bits per square inch.  The areal density breakthrough equates to 170 billion bytes (or gigabytes) per 3.5-inch platter, and represents more than a 100% increase in areal density from the 63.2 billion bits per inch attained in October 2000.  The areal density achieved with these heads will enable consumers to record 134 VHS full-length motion pictures on a, two-disk personal video recorder when the technology reaches the marketplace. 

                �In less than three years, our skilled team of engineers and strategic partners pushed areal density levels over 950%, from 13.5 billion bits per square inch in July 1998, to today�s achievement of 130 billion bits per square inch,� said Mark Re, senior vice president of research and development.   �Our focus on a systems level approach to advanced technologies, working with our strategic media and channel partners, continues to prove very successful.   Our research and development team continues to push recording density levels, providing the foundation for our customers� future products,� he added.   

The demonstration utilized fully integrated read/write heads manufactured using Read-Rite�s production wafer fab process, and the Company�s advanced technology in its slider fab and assembly processes; technology currently used on today�s products.   Technology utilized included an ultra-low flying, low-stiction air-bearing design, lapping technology for sub-micro inch strip height control and an automated assembly process for superior mechanical performance.

                The 130 gigabits per square inch was accomplished with the use of the fully integrated read/write head flying at a nominal magnetic spacing of 15 nm over an advanced longitudinal disk from MMC Technology.  The media used in the demonstration was MMC Technology�s low glide, low noise and thermally stable media with a coercivity of 4000 Oersted and Mrt of .35 memu per sq. cm.   A trellis-coded noise predictive read channel from Marvell Semiconductor, Inc. was also used in achieving the areal density record.

 �MMC Technology was delighted to partner with Read-Rite in this areal density demonstration�, said Ken Johnson, vice president of research and development at MMC. �The disk design and materials used by MMC reflects our commitment to extend current media technology to meet future areal density requirements�.

�Read-Rite�s areal density record is very impressive,� stated Dr. Alan Armstrong, Marvell�s Vice President of Marketing of the Storage Business Group.  �Marvell is proud to have contributed to this technology achievement.  Marvell designed the 88C550 read channel with programmable targets, matching the detector to leading-edge recording head designs, thus enabling an unprecedented level of signal-to-noise ratio performance at even the highest areal density.�  

 The 130 billion bits per square inch of data were written with a linear density of 610,000 bits per inch along the concentric tracks packed at a density of 213,000 per radial inch.  The on-track data was read with an uncorrected bit error rate of less than one error in over ten million bits, and with an off-track capability of 15% of the track pitch.  The data rate used for this demonstration was 166 megabits per second and the sensitivity of the advanced GMR head was 20 millivolts per micron.

                                Read-Rite Corporation (www.readrite.com) 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.  .

 This news release contains statements which include forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Act of 1934, as amended, and is subject to the �safe harbor� created by those sections.  The Company�s actual results for future periods could differ materially from those projected in such forward-looking information.   Factors that could cause actual results to differ include, but are not limited to:  the Company may be unsuccessful in transitioning its processes to volume production and other factors described in the Company�s reports filed with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for Fiscal 2001 and the Quarterly Report of Form 10-Q for the first quarter of Fiscal Year 2002 ended December 30, 2001.  Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.

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