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Technology Stocks : Advanced Digital Information Corp. (ADIC) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (1875)	3/23/2000 7:57:00 AM
From: Jim Oravetz	Read Replies (1) \| Respond to of 2283

REDMOND, Wash.--(BUSINESS WIRE)--March 23, 2000--Advanced Digital Information Corporation (Nasdaq:ADIC) announced today that it will nearly double the size of its Redmond Washington facilities with the signing of a lease to add a 78,000-sq. ft. building to its current operation. The new facility will provide for increased manufacturing capacity, additional office space, and expanded test and systems engineering labs. Occupancy of the new building is expected to take place this summer, just over two years after ADIC(R) moved into its current Redmond headquarters. Company officials noted that new space is needed to support the new products and customers that are fueling ADIC's growth. ADIC has sustained a compound annual growth rate in excess of 50% since 1995. Today, the Company is the industry's largest drive-independent supplier of automated tape libraries, which it markets under the ADIC brand as well as through OEM partners. During the last year, new OEM agreements with IBM, Fujitsu Siemens and Tandberg Data were added to existing relationships with Dell, Unisys, and Exabyte. The company is also one of the leading suppliers of storage management software, offering several products that allow data to be shared between different network users, including the CentraVision(TM) file sharing system which enables high-bandwidth collaborative workflow in SAN environments. Other recent expansion of the Company's product line include the addition of complete SAN backup solutions and the introduction of the Scalar 100, the first automated tape storage library designed to also operate as a NAS appliance. "ADIC is growing because we are expanding the kinds of data storage solutions we offer, because of new OEM relationships with rapidly growing partners, and because data itself continues to grow throughout the enterprise," noted Chuck Stonecipher, ADIC president and chief operating officer. "We need this space in order to continue to satisfy the growing demand for innovative products that can help our customers manage and access their network information." The additional space does not affect other ADIC facilities. The Company will continue to operate major corporate, manufacturing, and R&D centers in Denver, Colorado; Boehmenkirch, Germany; and Paris, France.