Seagate Technology, Inc. and Conner Peripherals, Inc. Confirm Merger
Discussion

SCOTTS VALLEY, CALIF. -- September 20, 1995 -- Seagate Technology, Inc.,
(NYSE: SEG) and Conner Peripherals, Inc. (NYSE: CNR) jointly announced
today that they are involved in negotiations concerning a business
combination of the two companies and have agreed in principle that the
stockholders of Conner Peripherals would receive a 0.442 share of Seagate
Technology common stock for each share of Conner Peripherals common stock.
It is intended that the transaction would be accounted for as a pooling of
interests. The transaction is subject to completion of due diligence,
negotiation and execution of a definitive agreement and the approvals of
the Boards of Directors of both companies. If a definitive agreement is
reached, it will be subject to normal conditions of closing, stockholder
approval of both companies and the required regulatory approvals. There
can be no assurance that the parties will enter a definitive agreement
regarding any such business combination or that any such business
combination will be consummated.
 
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