Apr 24, 2001

Seagate to Announce Financial Results April 26, 2001

SCOTTS VALLEY, Calif. - Seagate and its affiliated companies will report third quarter fiscal 2001 financial results on Thursday, April 26, 2001 after the close of the market. A webcast conference call will take place that day at 2:00 PM Pacific Time, which can be accessed from:

http://www.seagate.com/newsinfo/events/events_americas/

A replay will be available from the web site 45 minutes following the end of the webcast.

Seagate and its affiliated companies are controlled by New S.A.C., a Cayman Island limited liability company, organized in late 2000 to acquire the hard disc drive, tape drive, software and storage solutions businesses and certain other assets of Seagate Technology, Inc. These businesses include: Seagate Technology (which includes hard disc drives and XIOtech Corp.), Seagate Removable Storage Solutions, and Crystal Decisions (formerly Seagate Software). These transactions closed November 22, 2000.

About Seagate
Seagate is the world's leading provider of storage technology for Internet, business and consumer applications. The Company's products include disc drives for the Enterprise, PCs and Consumer Electronics, as well as Storage Area Network (SAN) solutions and Server Appliances. Seagate's market leadership is based on 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 http://www.seagate.com.

This press release includes forward-looking statements which are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, delays and difficulties in research and development activities, technical difficulties, changes in the allocation of resources available for research and development, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ materially from management expectations.