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To: J Fieb who wrote (704)	7/31/1998 9:08:00 AM
From: trendmastr	Respond to of 4808

Adaptec CEO and Chairman Saviers Resigns; Company Founder Larry Boucher Appointed Interim CEO MILPITAS, Calif.--(BUSINESS WIRE)--July 30, 1998--Adaptec, Inc. today announced the resignation of Grant Saviers, 54, Chairman of the Board and CEO, effective immediately. The Board of Directors has appointed company founder Larry Boucher, 55, as interim CEO. A search for his replacement will begin immediately. In addition, John Adler, 61, former Adaptec chairman and CEO, has been named to the Board. Grant Saviers commented, "I came to an agreement with the Board that it was time for a change in the leadership of the company. Adaptec has an abundance of talent, technology and a strong balance sheet. I'm confident the company can prosper in the future." Interim CEO Larry Boucher commented, "Adaptec has grown more than 400% since Grant joined as president in 1992. We thank him for his many contributions." Boucher is currently president and CEO of Alacritech. While Boucher is interim CEO of Adaptec, he will continue his involvement with Alacritech, Inc., another company he founded. Alacritech, headquartered in San Jose, Calif., is a developer of advanced networking products. Last year Adaptec signed a technology licensing agreement with Alacritech. About Adaptec Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high performance I/O, connectivity, and network products are incorporated into the systems and products of major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Calif., Adaptec (NASDAQ:ADPT) employs people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is adaptec.com. CONTACT: Adaptec, Inc. Adam Trunkey, 408/957-6761