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 October 8, 1999

Seagate shifting annual report to online reading

BOULDER– Seagate Technology Inc. is breaking from the traditional format for annual reports and developing an integrated strategy for communicating corporate financial information.

After sponsoring a study to discover how investment professionals obtain information to make financial decisions, Seagate determined that traditional annual reports were no longer the most efficient, cost-effective way to provide year-round corporate financial information.

The report, conducted by the Rival Research Group, found that investment professionals value the information available in annual reports, but would like to receive it in a more timely and efficient manner. Of those polled, the majority wanted to access annual reports online.

In response to these findings, Seagate developed a new standard for disclosing financial information. In addition to publishing a printed version, Seagate will communicate annual report information through a four-page spread in the Wall Street Journal, a Webcast interview with Seagate=s chief executive officer on the future of storage and an online version of the annual report accessible through Seagate=s Web site.

Making this information available through a variety of sources, Seagate is expecting to reach a broader audience. The summary annual report appearing in the Wall Street Journal will include a letter to investors, financial highlights and some insights into Seagate=s view on the future of storage. The Webcast, which will address Seagate=s business strategy, will be available at www.seagate.com/corp/ar. The complete annual report will also be available at the site.

— Anjanette Mudd

BOULDER– Seagate Technology Inc. is breaking from the traditional format for annual reports and developing an integrated strategy for communicating corporate financial information.

After sponsoring a study to discover how investment professionals obtain information to make financial decisions, Seagate determined that traditional annual reports were no longer the most efficient, cost-effective way to provide year-round corporate financial information.

The report, conducted by the Rival Research Group, found that investment professionals value the information available in annual reports, but would like to receive it in a more timely and efficient manner. Of those polled, the majority wanted to access annual reports online.

In…

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