Micropolis Corporation Enters Into Definitive Agreement To Sell Disk Drive
Assets to Singapore Technologies

SINGAPORE, January 26, 1996 --- Micropolis Corporation (NASDAQ NMS:MLIS)
today announced that it had entered into a definitive agreement with
Singapore Technologies to sell to it the inventory, property, plant, and
equipment related to the hard disk drive business of Micropolis
Corporation. As consideration for these assets, Singapore Technologies
will assume the disk drive-related accounts payable and the mortgage debt
on the factory under construction in Singapore. Singapore Technologies
will make a cash payment to the Company to compensate for the difference
between the value of assets acquired and the value of liabilities assumed.
The estimated value of the cash payment, based on year- end December 29,
1995 data, is US$40 million. The exact amount of the payment will be based
on the closing date balance sheet. In addition, Singapore Technologies
will pay to Micropolis Corporation US$7 million for the value of
intangibles, including the name Micropolis.

The agreement is subject to approval by Micropolis shareholders, regulatory
approval and other conditions. The target closing date is March 29, 1996.

Singapore Technologies, through its new subsidiary Micropolis Pte. Ltd.,
will focus on the disk drive business. Micropolis Pte. Ltd. will be headed
by president Dr. Joe Chen, who has held executive senior management
positions in the disk drive industry since 1982.

Dr. Chen said, "We are pleased with this opportunity to add value to the
Micropolis disk drive business which has long been associated with
technology leadership. We will accelerate the new product development
schedules, continue to provide high level support and satisfaction to our
customers, and we also look forward to having good relationships with our
suppliers."

The remaining part of Micropolis Corporation will focus on value- added
storage systems including video servers, digital disk recorders, the
RAIDION family of fault- tolerant disk arrays, and external storage
devices such as MICRODISK. The corporation is expected to be renamed
StreamLogic. Mr. Larry Smart will continue as chairman of the board, CEO
and president of StreamLogic.

Founded in 1976, Micropolis Corporation products are sold to OEMs and
system integrators and through distributors and VARs. Micropolis is
headquartered in Chatsworth, California, with sales offices throughout the
world and manufacturing facilities in Singapore and Thailand.

Singapore Technologies is a technology-based conglomerate headquartered in
Singapore, with strategic businesses in the following areas: Aerospace,
Automotive, Data Storage, Electronics, Financial and Management Services,
Food, Information Technology, Infrastructure, Lifestyle, Logistics,
Ordnance, Precision Engineering, Semiconductor, Shipbuilding and
Engineering and Telemedia. Singapore Technologies has a network of offices
in the Pacific Rim, the U.S. and Europe, with about 90 operating
subsidiaries. Its 1995 annual revenues is about US$2 billion with a
workforce of some 16,000 including more than 4,000 technical and
engineering staff.

Contact:

Peggy Garcia
Public Relations Manager
(818) 718-5264

Internet email: peggy_garcia@micropolis.com
 
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