Jul 21, 1998

Stephen J. Luczo Elected Chief Executive Officer of Seagate Technology

SCOTTS VALLEY, Calif. - Seagate Technology, Inc. (NYSE:SEG) today announced that Stephen J. Luczo, President and Chief Operating Officer, has been elected Chief Executive Officer and appointed as a member of its Board of Directors. Alan Shugart will be leaving Seagate at the request of the Company's Board of Directors. The Board requested Mr. Shugart's retirement from the Company, citing that the time had come to make a change in the leadership of the Company.

On behalf of the entire Board of Directors, Larry Perlman said, "Under Al's leadership, Seagate has become the clear leader in disc drives and components, with the industry's largest market share, highest revenues, broadest product offering and technology ownership in key storage components. Given Al's total dedication and contribution to all aspects of Seagate's success, it is difficult to adequately and appropriately articulate our appreciation for his efforts. His contributions to this organization and to the industry will endure."

"On behalf of all Seagate employees, customers and suppliers, I wish to thank Al for the leadership, effort and accomplishments he has displayed throughout his career," commented Mr. Luczo. "Seagate is well positioned to continue its leadership as a result of our strong management capabilities and employee base, technology ownership, manufacturing expertise and significant financial resources. It is a privilege to be called on to lead Seagate and I look forward to the challenge. During the last several quarters, Seagate has undertaken a variety of actions in order to improve the Company's competitive position and financial performance. We believe that as we implement these changes the Company's long-term competitive position will continue to improve, resulting in enhanced value for our employees and shareholders."

"Clearly, storage and related technologies are becoming more important to end-users as they focus on effectively delivering information throughout their organization," Luczo continued. "Over the last several years, we have positioned Seagate to take advantage of these trends in storage-centric computing through our extensive investments in new hardware and software technologies. As a result, we feel confident that Seagate will continue its leadership in storage as these markets evolve."

Luczo joined Seagate in October, 1993 and was named President and Chief Operating Officer as part of a broad management restructuring in September, 1997. As President, Luczo has had overall responsibility for Seagate's disc drive and component operations, including Product Development, Sales and Marketing, Customer Service, Quality, and Manufacturing. Prior to being named President, Luczo had operating responsibility for the Company's software subsidiary, the Quinta subsidiary, and Seagate's tape operations. In addition, Luczo was responsible for the Company's business strategy including related merger and acquisition and partnership activities.

Further, in addition to his Board position at Seagate Technology, Luczo is Chairman of Seagate Software and serves on the Board of Directors of two private companies in which Seagate Technology has equity positions, Dragon Systems, Inc., and Gadzoox Networks, Inc.

Prior to joining Seagate, Luczo had spent 10 years in investment banking, most recently as a Senior Managing Director, co-head of Global Technology at Bear Stearns & Co. He graduated from Stanford University in 1979 and received his MBA from the Stanford Graduate School of Business in 1984.

The Company also announced the appointment of current directors Gary B. Filler and Larry Perlman as non-executive Co-Chairmen of the Board of Directors.

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 their 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 on the World Wide Web 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.