READ-RITE QUALIFIED AND IN VOLUME PRODUCTION FOR SAMSUNG�S SPIN POINT 30 GB PER PLATTER PROGRAM

FREMONT, CA � May 2, 2001 � Read-Rite Corporation (Nasdaq: RDRT) today announced that it has been qualified by Samsung Corporation to supply their 30 GB per platter GMR heads and head stack assemblies for its Spin Point V30000, 5400 RPM disk drive program.   Volume production and shipments have already begun.

�This 30 GB per platter qualification confirms Read-Rite�s standing as the time-to-market GMR leader and validates our ability to provide the technology demanded by our customers as areal density continues to increase and as hard disk drive technology becomes more complex.  We look to strengthen and build upon this relationship as we move into even higher areal density programs in the near future,� said Jim Murphy, senior vice president of customer programs.  Dr. N.B. Park, president of Samsung�s storage systems division added, �as one of our supplier of the year recipients, Read-Rite continues to execute and develop with us the ever increasing and demanding recording head technologies required in our competitive hard disk drive environment.�

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 Dense Wavelength Division Multiplexers (DWDM), contract manufacturing services and fiber optic assembly equipment.  Scion's website is located at http://www.scionphotonics.com.  

This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained in such forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, the factors described in the company's reports filed with the SEC, including, but not limited to, its Annual Report on Form 10-K for fiscal 2000 and Quarterly Report on Form 10-Q for the first quarter of Fiscal Year 2001 ended December 31, 2000. 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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