Jun 01, 1999

Seagate Technology Announces Extension of Exchange Offer for Seagate Software Common Stock

SCOTTS VALLEY, Calif. - Seagate Technology, Inc., (NYSE:SEG) today announced it has extended its offer to acquire from Seagate Software stockholders all outstanding shares of Seagate Software Common Stock in exchange for shares of Seagate Technology Common Stock. The offer, commenced on April 23, 1999, is now scheduled to expire on June 9, 1999 at 12:00 midnight New York City time, unless extended.

As of 5:00 p.m. New York City time May 28, 1999, 392,318 shares of Seagate Software Common Stock have been validly tendered into the exchange offer. These shares of Seagate Software Common Stock would exchange into 666,548 shares of Seagate Technology Common Stock. Seagate Technology anticipates that additional eligible participants in the exchange offer may tender a significant number of additional Seagate Software Shares prior to the expiration of the exchange offer.

Seagate Technology, Inc. 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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