Subject: READRITE (RDRT) HUGE UNIT GROWTH ACCORDING TO CEO!!!

From: [email-masked]
Date: Thu, 21 Sep 2000 14:46:23

Read-Rite
launches Scion, a new Fibre
optics company

Read-Rite CEO gets into
growth

By Janet Haney,
CBS.MarketWatch.com

Last Update: 1:51
PM ET Sep 21, 2000

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SAN FRANCISCO (CBS.MW) -- Read-Rite Chief Executive
Officer Alan Lowe waxed positive about the future growth prospects for the
magnetic-recording-head supplier.

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Updated:
9/21/2000 11:47:04
AM ET

Lowe told a crowd of investors and analysts during a
presentation at the Banc of America Securities Investment Conference in San
Francisco on Thursday that he expects huge unit growth potential for Read-Rite's
(RDRT:
news,
msgs)
December quarter, as well as the possibility of profitability.

Lowe added that the company is hiring people as fast as
it can for its wafer fabrication facility.

For the September quarter, the CEO said Read-Rite has a
"lot of product to ship in the last 10 days of the quarter."

Additionally, Lowe talked about Read-Rite's recent
formation of an independent fiber optic company called Scion Photonics which he
said hopes to go public.

Scion received funding from Tyco, which will make a
presentation at the conference later Thursday.

Janet Haney is a reporter for CBS.MarketWatch.com.

Read-Rite Corp <RDRT>
said late on Wednesday it has formed a new fibre optics company, Scion Photonics
Inc, with $25 million in initial funding from Tyco Ventures and Integral Capital
Partners. Read-Rite also said it was in discussions with several other
interested parties for more technology and capital investments into Scion.

Scion's business
charter is "to design, manufacture and market high-performance optical
components to the fibre optics communications market," Read-Rite said in a
statement.

Scion will act as a
separate company, but will have access to Read-Rite's resources and
manufacturing infrastructure, Read-Rite chairman Cyril Yansouni said in a
statement. Read-Rite is contributing its Milpitas, California wafer fabrication
plant, technical and management resources and its knowledge and experience in
thin-film technology and materials science to Scion, which will be based in
Milpitas.

Tyco Ventures, the
venture capital unit of Tyco International Ltd. <TYC>, invested $15
million in Scion and also invested $15 million in Read-Rite through a private
placement with the company, Tyco Ventures president Richard Kashnow said in a
statement.

CBS article:

http://cbs.marketwatch.com/archive/20000907/news/current/screamers.htx?source=blq/yhoo&dist=yhoo

For the complete
streaming audio story users should access

http://www.on24.com/index.html?id=36870&type=av&ref=bizwire

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