Applied Magnetics Announces Promotion of John Foster to Chief Operating Officer.

GOLETA, Calif.--(BUSINESS WIRE)--Feb. 26, 1999--Applied Magnetics Corp. (NYSE:APM) Friday announced that Dr. John S. Foster has been promoted to the position of chief operating officer, reporting to Craig Crisman, chairman and chief executive officer of the company.

Foster has more than 13 years of experience in the recording head industry and joined the company in 1993. He has held a variety of senior management positions including two years as the company's managing director of its operation in Penang, Malaysia, and most recently as the vice president of Worldwide Operations. Foster holds a doctorate in applied physics from Stanford University.

In a separate matter, with the recently completed merger with DAS Devices, the company's Board of Directors has elected two new members. Phil Micciche, chief executive officer of Oryx Corp. and Bert L. Zaccaria, former chairman of DAS Devices Inc. will join the current board and increase the number of directors serving from five members to seven. Both men previously served on DAS Devices Board of Directors.

Applied Magnetics is an independent manufacturer of magnetic recording heads, head-gimbal assemblies ("HGAs") and headstack assemblies ("HSAs") for computer hard disk drives. Founded in 1957, Applied Magnetics is the oldest independent U.S.-based supplier of disk heads to the merchant market.

With headquarters in Goleta, the company employs more than 4,700 people around the world, with facilities in California, Malaysia, Korea, Singapore and China. The company's world wide Web site can be found at www.appmag.com.