Sep 08, 1997

New Seagate Management Structure Reflects Company's Global Growth

SCOTTS VALLEY, Calif. - In a move that reflects the significant growth experienced by the company in recent years, Alan Shugart, Seagate Technology chairman and chief executive officer, today announced that Stephen J. Luczo has been appointed to the new role of president and chief operating officer for Seagate Technology, Inc. Mr. Luczo will continue to report to Mr. Shugart. Organizations reporting to Mr. Luczo will include Seagate Storage Products, Recording Media and Recording Heads. Additionally, Mr. Luczo will continue in his role as chairman of Seagate Software.

"Over the last five years Seagate has continued to grow, both by acquisition and internal development, from a $3 billion company to one of nearly $9 billion in annual revenues with operations in 22 countries," said Shugart. "Through our extensive internal capabilities and our strategic investments, Seagate's businesses now include disc drives, disc and tape recording heads, recording media, precision motors, tape drives, network and storage management software, and data access and analysis software, as well as research and development efforts in optical drives, and investments in flash memory and storage networking hardware. Seagate's new executive management structure will efficiently accommodate the size of our organization, and provide additional focus on the breadth of Seagate's daily worldwide operations.

"Steve's appointment to this position reflects his expertise in strategic business planning and tactical execution, as evidenced in his most recent role as Seagate's executive vice president of Corporate Development, and president and chairman of the board for Seagate Software. Since joining the company in 1993, Steve has been an integral member of Seagate's executive council, and has contributed greatly to the company's overall corporate growth, and the subsequent enhancement of shareholder value."

Since 1994, Mr. Luczo has led the effort to build Seagate Software from an idea to what is now a software business with annual revenue in excess of $200 million. Combining these new capabilities with its core Storage Products business, Seagate is transforming itself into a leading provider of technology and products which enable people to store, access and manage information.

Mr. Luczo joined Seagate from the investment banking firm of Bear Stearns & Company, where he was a senior managing director of Finance and co-head of Bear Stearns' Global Technology Group. His primary focus was strategic advisory assignments for large technology companies. Mr. Luczo has worked with many of the largest computer systems and peripherals companies on a variety of strategic assignments, including the reshaping of Control Data Corporation, and the spin-off of Control Data Systems in 1992.

Seagate Technology, Inc. (NYSE:SEG) is a leading provider of technology and products enabling people to store, access, and manage information. Seagate is committed to providing best-in-class products to help people get their information when, where and how they need it. Seagate is the world's largest manufacturer of disc drives, magnetic discs and read-write heads, a market leader in tape drives, and a leading developer of software for information availability, access and analysis. With nearly $9 billion in revenues for its 1997 fiscal year, Seagate can be found around the globe and on the World Wide Web at http://www.seagate.com.

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