High Court of Justice in England Rules in Amstrad v. Seagate

SCOTTS VALLEY, Calif. - Seagate Technology, Inc. (NYSE:SEG) announced that the High Court of Justice, Queen's Bench Division, Official Referees' Court, issued its post trial order in an action entitled, Amstrad PLC v. Seagate Technology Incorporated and Seagate Technology Singapore PTE. Ltd. involving the 1988-1989 sales of disc drives to Amstrad.

The court awarded Amstrad (57,560,000 (approximately $93 million U.S.), not including interest and costs which could increase the award by an estimated $60 million U.S. The award will result in a charge of a like amount to the Company's current quarter's financial results, even though an appeal of the decision may be filed. The Company is currently evaluating the Court's decision.

Seagate Technology, Inc. is a leading data technology company providing products for storing, managing and accessing digital information. Seagate develops and manufactures some of the industry's most advanced information technologies, including disc and tape storage devices, magnetic recording heads and media, precision motors, microelectronics, and data access and management software. With $9.0 billion in revenue, operations in 22 countries and over 100,000 employees worldwide, the Scotts Valley, CA-based company is the world's largest manufacturer of disc drives and related components, and one of the globe's largest industrial corporations. Seagate's home page address on the World Wide Web is http://www.seagate.com.

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