3M Announces Filing of Preliminary Information Statement for Businesses To
Be Spun Off

ST. PAUL, MINN. -- April 3, 1996 -- 3M announced today that it has filed a
preliminary information statement with the Securities and Exchange
Commission relating to the proposed spin-off of its data storage and
imaging systems businesses.

Once the spin-off is completed, the new company will be a leader in
developing, manufacturing and marketing a wide variety of products and
services worldwide for data storage and imaging applications within the
information processing industry.

Under the current plan for the spin-off, each 3M shareholder would receive
shares of the new company's common stock through a special pro-rata
dividend. At the time of the spin-off, the new entity would become a
separately traded, public company with its own stock and board of
directors. 3M has applied for a ruling from the Internal Revenue Service
that the distribution of stock will be tax-free to the shareholders of 3M.
Application also will be made to list the common stock on the New York
Stock Exchange.

3M plans to be in a position to complete the spin-off by July 1. The
company is currently in the final stages of identifying a name for the new
enterprise and expects to make an announcement by the middle of April.

As previously announced, the management team of the new company will be led
by William T. Monahan, previously group vice president, 3M Electro and
Communications Group. Monahan will serve as chief executive officer of the
new company.

Monahan said of the transaction: "The spin-off makes perfect sense. It will
enable us to compete as a more efficient organization and achieve greater
profitability. We will continue to deliver innovative solutions driven by
our ability to anticipate customer needs worldwide."

L.D. DeSimone, chairman of the board and chief executive officer, 3M,
stated, "This transaction is clearly in the best interests of both 3M and
the new company, which will be led by a strong management team at a time
when the new company's businesses are positioned for growth."

3M first announced its plans to spin-off its data storage and imaging
systems businesses in November 1995. In 1995, sales of those businesses
totaled more than $2 billion.

During the coming months, the management of the new company will continue
to work with 3M to finalize this filing and complete the spin-off. Upon
completion of the process, the new company will discuss its plans with the
public and its representatives will be available to answer questions.
 
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