Mar 08, 1999

Seagate Anticipates One-Time Restructuring Charge in Q3FY99

Seagate Technology, Inc. (NYSE:SEG) today announced that the Company expects to take a one-time charge in the current fiscal quarter related to the restructuring of certain worldwide operations. This includes the previously announced closure of the Company's microelectronics manufacturing facility in Livingston, Scotland, consolidation of global customer service facilities, and additional actions necessary to further increase the productivity and efficiency of worldwide operations. The Company expects the charge to be in the range of $50 - 60 million. Seagate also stated that the sale of its Seagate Software NSMG operation to Veritas is now expected to close during its fourth fiscal 1999 quarter.

Seagate Technology, Inc. (NYSE:SEG) is a leading provider of technology and products enabling people to store, access, and manage information. The Company is committed to providing best-in-class products to help people get information when, where and how they want it. Seagate is the world's largest manufacturer of disc drives, magnetic discs and read-write heads, an innovator in tape drives, and a leading developer of Enterprise Information Management software. Seagate can be found around the globe and at http://www.seagate.com. For automated news, stock and financial information by phone, dial toll-free 877-SEG-NYSE. Outside the U.S. and Canada, dial 760-704-4368.

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