FOR IMMEDIATE RELEASE

READ-RITE CORPORATION ANNOUNCES FQ3 2001 CONFERENCE CALL AND WEBCAST

FREMONT, CA � July 9, 2001 � Read-Rite Corporation today announced that it will release its third quarter 2001 financial results after the market closes on Wednesday, July 25, 2001.� You are invited to join the conference call, at 2:30 p.m. PDT (5:30 p.m. EDT).

 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.

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:� cancellations or rescheduling of orders by the company�s customers, and the other 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, its Quarterly Reports on Form 10-Q for the first quarter of fiscal 2001 ended December 31, 2000, second quarter of fiscal 2001 ended April 1, 2001 and third quarter of fiscal 2001 ended July 1, 2001.� Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.

###