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MILPITAS, Calif., February 12, 2001 - Maxtor Corporation (NASDAQ: MXTR) today announced shipments of the new Maxtor 531DX drive family, the first hard disk drive to incorporate an inner diameter load/unload ramp for increased data reliability. The innovative ramp literally locks the recording head into a protective carrier to cradle the head during shipment and any other time the drive is not in operation.

"Maxtor views this new product line as a strategic move into new segments of the storage marketplace," said Mike Cannon, president and CEO of Maxtor. "By applying innovative technology, we have created a superior drive at a reasonable price. As an example of this, Maxtor is the first company in the industry to feature load/unload technology in products that are priced under one hundred dollars. The new line is an excellent choice for applications in the consumer, Internet appliance and entry PC markets."

"Over the next few years, we are going to see most disk drives incorporate load/unload ramp technology," said Pantelis Alexopoulos, vice president, advanced technology, and CTO of Maxtor. "By implementing this technology in a simple, elegant design, Maxtor quickly delivers value to the end customer."

Co-developed with the Maxtor Singapore organisation, the Maxtor 531DX also contains a reduced number of parts and components, providing even greater reliability with fewer points of possible failure. An additional reliability feature is a new slim 17-mm height that reduces the overall space consumed by one-third over traditional hard drive designs. The thinner form factor allows better air circulation, a key factor in promoting long-term reliability.

Along with the introduction of the 531DX, Maxtor also acknowledged the very strong support of the Singapore Economic Development Board (EDB). Ko Kheng Hwa, managing director of Singapore’s EDB, said, "Singapore is a major force in the global hard disk drive industry. We will continue to strengthen Singapore’s capabilities in outstanding technical talent and a strong research and development infrastructure to complement world-class manufacturing."

The Maxtor 531DX features a 5400-rpm spin speed and is offered in both 10 and 15 gigabyte (GB) capacities. Other product specifications and additional information about the ramp load/unload feature and form factor can be found at www.maxtor.com.

About Maxtor
Maxtor Corporation is a leading supplier of information storage solutions. The company's current hard drive products include the award-winning DiamondMaxÒ and DiamondMax Plus line of products for mainstream and high-performance personal computers and consumer electronics applications, as well as the DiamondMax VL line for entry-level PCs. Maxtor also offers a new 1394 External Storage solution and the MaxAttach family of network-attached storage servers. Maxtor's leadership position has been built by consistently providing leadership products, and by delivering high levels of quality and support for its customers. More information about Maxtor and its products can be found at www.maxtor.com or by calling toll-free (800) 2-MAXTOR. Maxtor is traded on NASDAQ under the MXTR symbol.

Media Contacts
Further information is available from Stephen Humphrey or Nicola Welch at MCC International.

Maxtor EMEA
Annie Bernard
Customer Marketing Coordinator
Tel: +33 (0)1 64 53 24 18
Fax: +33 (0)1 69 32 04 10
e-mail : annie_bernard@maxtor.com

MCC International
Stephen Humphrey/Nicola Welch
Tel: +44 (0) 1962 888100
Fax: +44 (0) 1962 888125
stephen.humphrey@mccint.com
nicola.welch@mccint.com

This announcement relating to Maxtor may contain forward-looking statements concerning future technology, products incorporating that technology, and Maxtor’s execution. These statements are based on current expectations and are subject to risks and uncertainties which could materially affect the company’s results, including, but not limited to, market demand for hard disk drives, the company’s ability to execute future production ramps and utilise manufacturing assets efficiently, pricing, competition, and the significant uncertainty of market acceptance of new products. These and other risk factors are contained in Maxtor’s most recent Prospectus as well as in its 10-K for fiscal 1999 and its recent 10-Qs. Maxtor, the Maxtor logo and DiamondMax are registered trademarks of Maxtor Corporation. MaxAttach and 1394 External Storage are trademarks of Maxtor Corporation.

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