READ-RITE SHIPPING IN VOLUME ON WESTERN DIGITAL�S INDUSTRY-FIRST 80 GB, HIGH-PERFORMANCE DESKTOP HARD DRIVE

FREMONT, CA � May 2, 2001 � Read-Rite Corporation (Nasdaq: RDRT) today announced that they have begun volume shipments for Western Digital�s newest WD Caviar� hard drive, the first high-performance 7,200 RPM hard drive to market offering 80 GB storage capacity.  

�We are pleased to once again announce our qualification on another industry leading, high performance desktop drive program from Western Digital. This is the result of outstanding team work to bring another leading edge product to market between the companies.� said Alan Lowe, president and chief operating officer.

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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