ADIC Announces Two-For-One Stock Split; University of Washington President McCormick Joins Board of Directors.Business Editors REDMOND, Wash.--(BUSINESS WIRE)--Feb. 17, 2000 ADVANCED DIGITAL INFORMATION CORPORATION (Nasdaq:ADIC) today announced that its Board of Directors had approved a two-for-one split of the Company's issued and outstanding common stock. The stock split will be implemented as a 100 percent stock dividend payable on March 13, 2000 to shareholders of record as of March 1, 2000. On March 13, shareholders will be entitled to receive one additional share for every share they own on the record date. Following the payment date, ADIC will have approximately 51 million shares outstanding. Separately, during its meeting yesterday, the Board named University of Washington President Richard L. McCormick as a member. Dr. McCormick's term begins immediately and he will stand for election at the next scheduled shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. . He has served as President of the University of Washington (UW) since September 1, 1995 and holds a Ph.D. in History from Yale University Yale University, at New Haven, Conn.; coeducational. Chartered as a collegiate school for men in 1701 largely as a result of the efforts of James Pierpont, it opened at Killingworth (now Clinton) in 1702, moved (1707) to Saybrook (now Old Saybrook), and in 1716 was . The UW is the largest institution of higher education in the State of Washington and currently enrolls approximately 35,000 students. About ADIC With more than 55,000 automated tape libraries installed and 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 for computer networks. Marketed under ADIC and ADIC/GRAU brands and the brands of 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 partners, including Dell, Fujitsu Siemens, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Exabyte and Unisys, the Company's automated tape libraries are available with DLTtape, AIT, D2, half-inch, and 4mm 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 mainframe 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), FileServ and CentraVision, software products which provide users with shared access to network data. A pioneer in Storage Area Networks, ADIC's Open SAN solutions combine open-system SAN hardware and software with installation services and single-call support. Further ADIC information is available at http://www.adic.com. ADIC, FastStor, Scalar, FileServ, CentraVision and AMASS are trademarks of Advanced Digital Information Corporation. DLT (Digital Linear Tape) A magnetic tape technology originally developed by Digital for its VAX line. The technology was later sold to Quantum, which makes it available to other manufacturers. DLT uses half-inch, single-hub cartridges similar to IBM's 3480/3490/3590 line. is a trademark of Quantum Corporation. All other product or company names should be considered the property of their owners. |
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