Adaptec Announces the Resignation of CFO; Advises That Second Quarter Expectations are in Line With Estimates.

Business Editors

MILPITAS, Calif.--(BUSINESS WIRE)--Sept. 6, 2000

Adaptec, Inc. (Nasdaq:ADPT), the global leader in innovative storage solutions, today announced that Chief Financial Officer and Vice President Andy Brown has resigned to pursue other interests.

"During the past twelve years Andy has made significant contributions to Adaptec's growth and success," said Bob Stephens, Adaptec's CEO and President. "We wish him well in his future endeavors."

Bob Stephens will serve as interim Chief Financial Officer until a replacement is named. The company has engaged a search firm to help in the recruitment of Brown's replacement.

"The last twelve years have been incredibly rewarding, both professionally and personally," said Brown. "I have seen Adaptec grow from a small cap company to gain NASDAQ 100 and S&P 500 status."

In addition, the company reiterated its financial guidance for the second fiscal quarter, which continues to be in line with current Wall Street estimates.

About Adaptec

Adaptec (Nasdaq:ADPT) is the global leader in innovative storage solutions. Adaptec's hardware and software solutions for business and Internet applications move, manage, and protect critical data and digital content. Adaptec's direct-attached storage, network storage solutions and desktop software solutions for digital content are found in high-performance networks, servers, workstations and desktops from the world's leading manufacturers, and are sold through distribution channels to ISPs, enterprises, medium and small businesses and consumers. Adaptec is an S&P 500 and a NASDAQ 100 member. More information is available at www.adaptec.com.

Safe Harbor Statement

This press release contains forward-looking statements regarding Adaptec's financial guidance for the second fiscal quarter. Actual events could, of course, differ materially as a result of many factors including the precise timing of the recovery of the distribution channel business, the ongoing impact of component shortages on Adaptec's customers, supply and demand changes in the industry, changes in Adaptec's product mix, rapid or unexpected changes in customer requirements, purchasing decisions by key customers, competitive pricing pressures, overall conditions in the high-performance PC, server and software markets, and general economic conditions. For a more complete discussion of these and other factors, please refer to the section entitled "Certain Factors Bearing on Future Results" in Item I of the company's Annual Report on Form 10-K for the fiscal year ended March 31, 2000."