Sep 26, 2006

Digital Security Just Got Stronger - Seagate's Removable Hard Drive Cartridge Solution Powers New Panasonic Network Video Recorder

Seagate Technology (NYSE:STX), the worldwide leader in hard disc drives, announced today that Panasonic System Solutions Company, a Unit Company of Panasonic Corporation of North America, the principal North American subsidiary of Matsushita Electric Industrial Co. Ltd. (NYSE: MC), has selected Seagate's innovative, removable 2.5-inch hard drive cartridge for its newest i-Pro product - the WJ-ND200 Network Video Recorder (NVR) for video surveillance recording applications - to enable the more effective archive and transport of surveillance video. This ground-breaking digital security system will be unveiled at the Panasonic Security Systems Booth 3523 during the ASIS 2006 event (American Society for Industrial Security) held in San Diego at the San Diego Convention Center from September 25 to September 27. According to Panasonic, the WJ-ND200 IP Network Video Recorder will be available in North America in early 2007.

Seagate's removable hard disc drive cartridge is a reliable and rugged solution built around its popular Momentus 5400.2 2.5-inch hard drives, with storage capacities up to 120GB. An exclusive for the Panasonic WJ-ND200, the removable cartridge solution has the potential to be tailored into other surveillance systems and other market segments because of its straightforward, simple way to move digital content where and when you want it.

According to J.P. Freeman Co., the estimated worldwide market for video surveillance equipment is $4.5B at the factory level with a compound average growth rate of 18%. Further, when you take out the analog portion of this market and look just at digital systems, the market is growing at more than double this rate or approximately 42% (CAGR)¹. Panasonic's selection of Seagate's removable cartridge solution is an example of how all segments of the video surveillance market continue to make a rapid transition from tape to hard drive based storage.

Using this convenient cartridge form factor, Panasonic can now offer the WJ-ND200 IP network video recorder and provide unique features to its customers such as:

• Reliable, rugged and removable recording for security and surveillance applications;
• Many hours of recording time and archiving with up to 120GB of capacity; • Reduced initial installation costs;
• Ability to easily save important data for long time periods or provide evidentiary video to authorities by swapping cartridges;
• Save space and energy with a convenient small form factor.

"Panasonic is committed to providing its customers with the best solutions in digital video surveillance," said Paul P. Robinson, Product Marketing Manager, Recording Solutions, of Panasonic System Solutions Company (PSSA). "Seagate's removable hard drive cartridge solution is ideal in several aspects, most importantly the ability to archive video efficiently and easily in a cost-effective manner."

"When video security moves from tape-based recording to hard drive-based systems, security companies will benefit in ways that tie directly into their mission," said Rob Pait, director, global consumer electronics marketing at Seagate. "With Seagate solutions such as the removable cartridge, security companies will be able to store, access, and transport video in ways that will make the job easier and faster. And our worldwide business and technical support teams are committed to helping security equipment manufacturers realize these benefits today."

About Panasonic
Panasonic System Solutions Company, Unit of Panasonic Corporation of North America, is a world leader in analog and IP video surveillance solutions through its Panasonic Security Systems division. Core, cutting-edge technology developments include Super Dynamic III with intelligent camera features, and expanding networking capabilities of the i-Pro Series of intelligent and professional IP products. Based in Secaucus, NJ, Panasonic Corporation of North America is the principal North American subsidiary of Matsushita Electric Industrial Co., Ltd. (NYSE:MC) of Japan. Information about Panasonic Security Systems is available at www.panasonic.com/security. Additional company information for journalists is available at www.panasonic.com/pressroom.

About Seagate
Seagate is the worldwide leader in the design, manufacture and marketing of hard disc drives, providing products for a wide-range of Enterprise, Desktop, Mobile Computing, and Consumer Electronics applications. Seagate's business model leverages technology leadership and world-class manufacturing to deliver industry-leading innovation and quality to its global customers, and to be the low cost producer in all markets in which it participates. The company is committed to providing award-winning products, customer support and reliability to meet the world's growing demand for information storage. Seagate can be found around the globe and at www.seagate.com.

Seagate, Seagate Technology and the Wave logo are registered trademarks of Seagate Technology LLC. Momentus is a trademark or registered trademark of Seagate LLC. All other trademarks or registered trademarks are the property of their respective owners. One gigabyte, or GB, equals one billion bytes when referring to hard drive capacity. One terabyte, or TB, equals 1,000 gigabytes when referring to hard drive capacity. Accessible capacity may vary depending on operating environment and formatting. Quantitative usage examples for various applications are for illustrative purposes. Actual quantities will vary based on various factors, including file size, file format, features and application software.

¹ Source: J.P. Freeman Co. "2006 Worldwide Video Surveillance Market Report," March 1, 2006.