FOR IMMEDIATE RELEASE
MILPITAS, CA -- July 29, 1999 -- Read-Rite Corporation (Nasdaq: RDRT) today announced Dr. Robert M. White, University Professor of Electrical and Computer Engineering and Director of the Data Storage Systems Center at Carnegie Mellon University, has accepted appointment to the company's board of directors.
"We are extremely pleased to have Dr. White join our board. His vast knowledge and expertise in magnetic recording technology, coupled with his broad perspective in academia, business and the government sectors, make Dr. White a real asset to Read-Rite," said Cyril J. Yansouni, chairman and chief executive officer. Dr. White's appointment expands the board of directors to six members.
Dr. White, with Carnegie Mellon University since 1993, is also a Professor of Engineering and Public Policy at CMU. Prior to joining CMU, Dr. White served as the first Under Secretary for Technology in the Commerce Department from 1990-1993 in the Bush administration. His industry experience includes positions at Control Data Corporation as vice president and chief technology officer, and at Xerox's Palo Alto Research Center as a principal scientist. Dr. White has written extensively, and is the author of over 120 technical publications. He is on the board of directors for STMicroelectronics NV (Geneva), Ontrack Data International, Inc. (Minneapolis), and ENSCO, Inc. (Springfield, VA). In addition, Dr. White is a member of the National Academy of Engineering, and a Fellow at the American Physical Society, the IEEE and the American Association for the Advancement of Science (AAAS). Dr. White received a Bachelor of Science degree in physics from MIT and a Ph.D. in physics from Stanford University.
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 .
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. These statements include, but are not limited to: the company's expectation that shipments will begin in September; and the company's expectation that its renewed relationship with Quantum will continue. 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 ramping HGA production for Quantum; the company may be unsuccessful in obtaining additional design wins for other Quantum desktop and enterprise programs; and the 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 1998 and quarterly reports on Form 10-Q for the first, second and third quarters of Fiscal Year 1999 ended December 27, 1998, March 28, 1999 and June 27, 1999 respectively. Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.