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Technology Stocks : Storage Technology- STK -- Ignore unavailable to you. Want to Upgrade?

To: Charles Broderick who wrote (543)	10/15/1999 9:42:00 AM
From: bob gauthier	Read Replies (1) \| Respond to of 560

Friday October 15, 9:02 am Eastern Time Company Press Release StorageTek Engages Goldman, Sachs & Co. and Mckinsey & Company LOUISVILLE, Colo.--(BUSINESS WIRE)--Oct. 15, 1999-StorageTek(TM) (Storage Technology Corp., NYSE: STK) today said that it has engaged Goldman, Sachs & Co. and McKinsey & Company to assist StorageTek in its on-going analysis, evaluation, and consideration of various strategic alternatives, such as financial restructuring, acquisitions, divestitures, spin-offs, joint ventures, and business combinations that could include a sale, mergers or partnerships. The company said it will have no further comment until it has completed its review of strategic alternatives. About StorageTek StorageTek is the preeminent provider of network storage. The company's strategy is to provide ''Open, Intelligent and Integrated''(TM) solutions that combine storage products, storage management software and storage services. StorageTek solutions help customers collect, move, store, share and protect all types of digital content on platforms ranging from laptops to enterprise servers. The company, with headquarters in Louisville, Colo., reported revenue of $2.3 billion in 1998. Information on StorageTek is available on the World Wide Web at www.storagetek.com or phone 1-800-786-7835. The assumptions, expectations and forecasts contained herein regarding StorageTek's future plans, financial results and performance may constitute ''forward looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks and uncertainties that could cause actual results to differ materially. Some of these risks and uncertainties include, without limitation, the successful implementation of any strategic alternatives, the timely introduction, manufacture and market acceptance of products; successfully containing operating expense levels while increasing revenue; managing aggressive competition and pricing pressures on the Company's products and services; developing new distribution channels for the Company's products; the impact of year 2000 preparations on the company's customers and suppliers and purchasing patterns; and other risks that are discussed in StorageTek's reports on Forms 10-K, 10-Q and 8-K that are filed with the Securities and Exchange Commission (SEC) and which are available on the Internet.