ADIC Added to Russell Indexes.REDMOND, Wash.--(BUSINESS WIRE)--July 8, 1999-- Advanced Digital Information Corporation (Nasdaq:ADIC) announced today that is has been added to the Russell 3000(R) and Russell 2000(R) indexes, two of the leading indexes used to measure the performance of the largest U.S. companies based on total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. . The Russell indexes Russell Indexes US equity index widely used by pension and mutual fund investors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. serve among the leading benchmarks for investment evaluation, and, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Frank Russell Company, more than $145 billion are invested in funds that use the Russell indexes as investment models. "We're excited to be recognized among the most valuable companies in the country," commented Peter van Oppen, ADIC Chairman and Chief Executive Officer. "ADIC's inclusion in the Russell indexes is one more indication of the importance that electronic information is assuming as the business community grapples with the problems and opportunities presented by the Internet explosion and the emergence of applications such as e-commerce. ADIC has grown into one of the leading providers of systems to manage and protect the data that increasingly runs the world's businesses." Each year, on May 31, the Frank Russell Company compiles and ranks the 3,000 largest U.S. companies by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . The large cap Russell 1000(R) Index comprises the largest 1,000 companies in the ranking, while the Russell 2000(R) Index includes the 2,000 smaller cap members. The final listing is confirmed on June 30, and released in its entirety to the public on July 8. More information about the Russell indexes is available at www.russell.com. About ADIC With more than 40,000 automated tape libraries installed as well as a suite of innovative software solutions and Storage Area Networking (SAN) products, ADIC is a leading global provider in the growing market to manage and protect information in computer networks. Marketed under ADIC, ADIC/GRAU and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partner brands, including Dell, Exabyte and Unisys, the Company's automated tape libraries are available with DLTtape(TM), D2, half-inch, AIT, 4mm and 8mm tape technologies and are supported by leading backup and storage management software products for Windows NT, UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and MVS (Multiple Virtual Storage) Introduced in 1974, the primary operating system used with IBM mainframes (the others are VM and DOS/VSE). MVS is a batch processing-oriented operating system that manages large amounts of memory and disk space. operating systems. The Company's own storage management tools include AMASS (Archive Management And Storage System) Tape management software for Unix from Quantum Corporation, Colorado Springs, CO (www.quantum.com). Originally developed by ADIC, AMASS makes the tape library look like an infinite disk drive to the application. (R) direct data access software which provides network users shared access to information stored in automated libraries. A pioneer in marketing products for Storage Area Networks, ADIC offers Fibre Channel routers and tape libraries with direct Fibre Channel connectivity. Further product information is available via the Internet at www.adic.com. ADIC is a trademark of Advanced Digital Information Corporation. DLTtape is a trademark of Quantum Corporation. Russell 3000, Russell 2000, and Russell 1000 are trademarks of the Frank Russell Company. All other product, trademark, company, or service names mentioned herein are the property of their respective owners. |
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