Seagate Technology Announces Commencement Of Quarterly Dividends In Quarter Ending March 28, 2003

Seagate Technology (NYSE:STX) today announced that pursuant to the Company's previously established dividend policy, it intends to commence payment of quarterly dividends, with a dividend payment for the quarter ending December 27, 2002 to be made during the fiscal quarter ending March 28, 2003.

Seagate expects to pay its shareholders quarterly dividends of $0.03 per share ($0.12 annually). All dividends are subject to the approval of Seagate's board of directors and certain contractual restrictions.

Seagate is the worldwide leader in the design, manufacturing and marketing of hard disc drives for Enterprise, PC and Consumer Electronics applications. The Company is committed to delivering 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.