Maxtor Corporation Announces Move to the New York Stock Exchange; New Ticker Symbol to Be 'MXO'

Apr 11, 2001, 01:00 ET from Maxtor Corporation

    MILPITAS, Calif., April 11 /PRNewswire/ -- Maxtor Corporation
 (Nasdaq:   MXTR) today announced that it will transfer its listing to the New
 York Stock Exchange (NYSE), under the new ticker symbol "MXO".  The new
 listing will be effective on, or close to, April 30, 2001.  On April 2, Maxtor
 completed its merger with Quantum Corporation's Hard Disk Drive Group,
 creating the world's largest disk drive company in terms of units shipped.
     "We look forward to our move to the NYSE," said Mike Cannon, Maxtor
 president and CEO.  "With the completion of the merger, we now have the
 breadth of products and financial resources to ensure that Maxtor is very well
 positioned to benefit from the future growth opportunities in storage.  We
 appreciate the potential of a NYSE listing to further enhance visibility for
 Maxtor and to broaden our investor base."
     "The Exchange is proud and privileged to welcome Maxtor Corporation to our
 growing family of listed companies," said NYSE chairman and CEO Richard A.
 Grasso.  "A global leader in information storage solutions, Maxtor is an
 enterprise built on innovation and tireless commitments to quality,
 responsiveness and customer support.  Maxtor's mission, brand and stakeholders
 will be well served by the Exchange's outstanding liquidity, transparency and
 market quality."
     Combined revenues from Maxtor and Quantum HDD were approximately
 $6 billion in 2000.  The combined company will have cash of approximately
 $700 million and long-term debt of approximately $200 million.
 
     Safe Harbor
     This press release contains certain "forward-looking" statements within
 the meaning of the Private Securities Litigation Reform Act of 1995.  These
 statements are based on management's current expectations and are naturally
 subject to uncertainty and changes in circumstances.  Actual results may vary
 materially from the expectations contained herein.  The forward-looking
 statements contained herein include statements about future financial and
 operating results of the combined company and benefits of the merger between
 Quantum HDD and Maxtor.  Factors that could cause actual results to differ
 materially from those described herein include: the inability to successfully
 integrate the businesses of Quantum's HDD operations and Maxtor; costs related
 to the merger; the economic environment of the hard disk drive and network
 attached storage industries; and the general economic environment.  More
 detailed information about these factors is set forth in the reports filed by
 Maxtor with the Securities and Exchange Commission, including, but not limited
 to, Form 10-K for fiscal 2000, recent 10-Qs and the Form S-4 Registration
 Statement.  Maxtor is under no obligation to (and expressly disclaims any such
 obligation to) update or alter its forward-looking statements, whether as a
 result of new information, future events or otherwise.
 
     About Maxtor
     Maxtor Corporation (www.maxtor.com) is one of the world's leading
 suppliers of information storage solutions.  The company has an expansive line
 of storage products for desktop computers, network storage, high-performance
 Intel-based servers, and consumer electronics.  Maxtor has a reputation of
 being a proven market leader built by providing consistent high-quality
 products, and service and support for its customers.  Maxtor and its products
 can be found at www.maxtor.com or by calling toll-free (800) 2-MAXTOR.  Maxtor
 is traded on the NASDAQ under the MXTR symbol.
 
 

SOURCE Maxtor Corporation
    MILPITAS, Calif., April 11 /PRNewswire/ -- Maxtor Corporation
 (Nasdaq:   MXTR) today announced that it will transfer its listing to the New
 York Stock Exchange (NYSE), under the new ticker symbol "MXO".  The new
 listing will be effective on, or close to, April 30, 2001.  On April 2, Maxtor
 completed its merger with Quantum Corporation's Hard Disk Drive Group,
 creating the world's largest disk drive company in terms of units shipped.
     "We look forward to our move to the NYSE," said Mike Cannon, Maxtor
 president and CEO.  "With the completion of the merger, we now have the
 breadth of products and financial resources to ensure that Maxtor is very well
 positioned to benefit from the future growth opportunities in storage.  We
 appreciate the potential of a NYSE listing to further enhance visibility for
 Maxtor and to broaden our investor base."
     "The Exchange is proud and privileged to welcome Maxtor Corporation to our
 growing family of listed companies," said NYSE chairman and CEO Richard A.
 Grasso.  "A global leader in information storage solutions, Maxtor is an
 enterprise built on innovation and tireless commitments to quality,
 responsiveness and customer support.  Maxtor's mission, brand and stakeholders
 will be well served by the Exchange's outstanding liquidity, transparency and
 market quality."
     Combined revenues from Maxtor and Quantum HDD were approximately
 $6 billion in 2000.  The combined company will have cash of approximately
 $700 million and long-term debt of approximately $200 million.
 
     Safe Harbor
     This press release contains certain "forward-looking" statements within
 the meaning of the Private Securities Litigation Reform Act of 1995.  These
 statements are based on management's current expectations and are naturally
 subject to uncertainty and changes in circumstances.  Actual results may vary
 materially from the expectations contained herein.  The forward-looking
 statements contained herein include statements about future financial and
 operating results of the combined company and benefits of the merger between
 Quantum HDD and Maxtor.  Factors that could cause actual results to differ
 materially from those described herein include: the inability to successfully
 integrate the businesses of Quantum's HDD operations and Maxtor; costs related
 to the merger; the economic environment of the hard disk drive and network
 attached storage industries; and the general economic environment.  More
 detailed information about these factors is set forth in the reports filed by
 Maxtor with the Securities and Exchange Commission, including, but not limited
 to, Form 10-K for fiscal 2000, recent 10-Qs and the Form S-4 Registration
 Statement.  Maxtor is under no obligation to (and expressly disclaims any such
 obligation to) update or alter its forward-looking statements, whether as a
 result of new information, future events or otherwise.
 
     About Maxtor
     Maxtor Corporation (www.maxtor.com) is one of the world's leading
 suppliers of information storage solutions.  The company has an expansive line
 of storage products for desktop computers, network storage, high-performance
 Intel-based servers, and consumer electronics.  Maxtor has a reputation of
 being a proven market leader built by providing consistent high-quality
 products, and service and support for its customers.  Maxtor and its products
 can be found at www.maxtor.com or by calling toll-free (800) 2-MAXTOR.  Maxtor
 is traded on the NASDAQ under the MXTR symbol.
 
 SOURCE  Maxtor Corporation