FOR IMMEDIATE RELEASE          

READ-RITE IS QUALIFIED AND SHIPPING ON WESTERN DIGITAL'S NEW 20 GB PER PLATTER PROT�G�� PRODUCT LINE 

FREMONT, CA - September  29, 2000 -- Read-Rite Corporation (Nasdaq: RDRT)  today announced that it has been qualified and is in volume production for Western Digital's new 20 GB per platter Prot�g�� product line, which is their new value EIDE desktop companion to the performance desktop brand. This Western Digital drive is to be supplied to Microsoft for its forthcoming Xbox� video game console and other cost-sensitive personal entertainment and PC markets. Western Digital's new low cost 5,400 RPM hard disk drives have capacities of 10 GB and 20 GB. Read-Rite has ramped production and volume shipments began in September.

"This is a very exciting time for Read-Rite as we are at the forefront with Western Digital on their performance line products and now their value line products. We began shipping 20 GB per platter heads for Western Digital's Caviar� 7,200 RPM disk drives in August and their Prot�g�� product line in September. Read-Rite is proud to be a full-line supplier to Western Digital again on their leading edge time to market products," said James J. Murphy, Read-Rite's senior vice-president of customer business units. 

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 and Singapore. The company's website is located at http://www.readrite.com.

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 and Singapore. The company's website is located at http://www.readrite.com.

Read-Rite is also the majority shareholder of Scion Photonics, Inc. which designs, develops, manufactures and sells both custom and standard Dense Wavelength Division Multiplexers (DWDM) and other optical communication components to address the rapidly growing worldwide fiber-optic network expansion. The company is well funded by the backing of Read-Rite Corporation, Tyco Ventures and Integral Capital Partners. Scion's website is located at http://www.scionphotonics.com.

This news release may contain 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 ability to attract and retain other optical experts, the ability to be a time to market leader for optical components, the ability to leverage the strengths of the Read-Rite business with that of Scion; 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 1999 and Quarterly Reports on Form 10-Q for the first, second and third quarters of Fiscal Year 2000 ended December 31, 1999, April 2, 2000 and July 2, 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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