Here is the press release
AMPEX CORPORATION AND MAXTORr SET TERMS FOR USE OF
KEEPERED MEDIA TO IMPROVE PERFORMANCE OF HARD DISK
DRIVES
REDWOOD CITY, CA., December 23, 1996
Ampex Corporation (Amex:AXC) and Maxtor Corporation announced today that they have agreed
to terms upon which Maxtor may acquire disk drive platters incorporating Ampex's keepered media
technology for inclusion in disk drive programs during 1997.
The agreement sets prices and other terms but does not oblige Maxtor to complete any disk drive
program or to purchase any minimum quantity of keepered media disk platters.
The new disk drive programs would use keepered media to achieve leading-edge capacity at a
lower cost than alternative technologies. The agreement permits Maxtor to use keepered media with
both inductive and magneto-resistive heads.
Maxtor Corporation, headquartered in Milpitas, Calif., develops, manufactures and markets
information storage products for desktop and mobile computer systems. A wholly-owned,
independently operated subsidiary of Hyundai Electronics America, Maxtor had sales of $1.2 billion
in the calendar year 1995.
Maxtor's parent company, Hyundai Electronics America, has begun the establishment of an
operation, Max Media, that will manufacture disk drive platters for use by Maxtor commencing in
1997. Initially, the keepered media that Ampex will supply to Maxtor is expected to be produced by
one or more commercial manufacturers of disk drive platters and by Max Media. Ampex has
previously announced that it presently does not have the facilities to manufacture commercial
quantities of disk media and has not decided whether or not to invest in such facilities in the future.
Ampex Corporation is one of the world's leading innovators in the fields of magnetic recording,
digital image processing and high-performance digital storage for the visual information age. Ampex
is currently focusing its technology on the emerging market for mass data storage. During its 52-year
history of innovation, Ampex has been granted thousands of patents and numerous awards for
technical achievement. Headquartered in Redwood City, California, Ampex's customers today
include such leading organizations as Boeing, Eastman Kodak, Mobil Oil, Time Warner and NASA.
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, which relate to the Company's keepered media development
program and which involve certain risks and uncertainties. Information on potential factors that could
cause the Company's actual results or outcomes to differ materially from those anticipated are
discussed in the Company's letter to its stockholders dated the date hereof, and under the caption
"Keepered Media Research and Development" and elsewhere in the Company's filings with the
Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K
for the fiscal year ended December 31, 1995 and its Quarterly Reports on Form 10-Q for the fiscal
quarters ended March 31, June 30, and September 30, 1996. The Company undertakes no
obligation to release publicly any revisions to such forward-looking statements in order to reflect
events or circumstances occurring after the date hereof.
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