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To: John Wang who wrote (7700)	11/18/1997 6:12:00 PM
From: xamir	Read Replies (2) \| Respond to of 11057

Tuesday November 18, 6:00 pm Eastern Time Company Press Release SOURCE: Seagate Technology, Inc. Seagate Technology, Inc. Second Fiscal Quarter to be Below Expectations SCOTTS VALLEY, Calif., Nov. 18 /PRNewswire/ -- Seagate Technology, Inc., (NYSE: SEG - news) today announced that due to continued weakness in demand for its high performance products and greater than anticipated pricing pressure, it will not meet current Wall Street expectations for its second fiscal quarter ending January 2, 1998. As previously noted in Seagate's October 16, 1997 press release, the Company is currently reviewing its operations worldwide and is contemplating actions which will result in significant restructuring and other one-time charges. These charges are likely to exceed the high end of a range previously estimated to be $50-$100 million. The Company believes it will be marginally profitable for the quarter before any such charges. This release contains forward-looking statements relating to the Company's business, pricing, earnings outlook and restructuring and other one-time charges. These forward-looking statements are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. These risks and uncertainties include demand for computer systems, competitive factors, pricing environment, future movements in currency exchange rates, the extent to which facilities and equipment are determined to be excess or unusable for alternative operations of the Company and severance costs to be incurred, if any. Seagate undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. 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, a market leader in tape drives, and a leading developer of software for information availability, access and analysis. With nearly $9 billion in revenues for its 1997 fiscal year, Seagate can be found around the globe and on the World Wide Web at seagate.com. SOURCE: Seagate Technology, Inc. More Quotes and News: Seagate Technology Inc (NYSE:SEG - news) Related News Categories: computer hardware, computer peripheral, computers, internet