Bankruptcy Court Approves Sale of Comdisco's Availability Solutions Business to Sungard for $825 Million.

Business Editors

ROSEMONT, Ill.--(BUSINESS WIRE)--Nov. 9, 2001

Comdisco, Inc. (NYSE: CDO) announced today that, at the conclusion of a three day hearing in the U.S. Bankruptcy Court for the Northern District of Illinois, Judge Ronald Barliant approved the sale of Comdisco's Availability Solutions (Technology Services) business to Wayne, Pennsylvania-based SunGard Data Systems Inc. (NYSE: SDS) for $825 million. Closing of the transaction will occur as soon as possible, subject to a favorable ruling by the United States District Court for the District of Columbia in the antitrust case filed against Comdisco and SunGard by the U.S. Department of Justice on October 22, 2001. All proceedings in that case were also completed today, and the parties are awaiting the District Court's ruling, which is expected by November 15, 2001.

Norm Blake, chairman and chief executive officer of Comdisco, said, "We are very pleased that the Court today approved our motion filed at the commencement of our chapter 11 reorganization cases to sell our Availability Solutions business. We have been working closely with SunGard since the summer to successfully resolve the antitrust situation and we expect to continue to work closely with them to ensure a seemless transition for our customers and employees. We are also pleased that the Court today clearly found that our Availability Solutions sale is in the best interests of our stakeholders and that our Company exercised all appropriate business judgment in reaching this outcome."

On July 16, 2001, Comdisco announced that it had entered into an agreement to sell the Availability Solutions business to Hewlett-Packard Company (NYSE: HWP) for $610 million and, with 50 of its domestic U.S. subsidiaries, commenced voluntary chapter 11 reorganization cases. The HP bid was subject to higher or otherwise better offers in a Court-authorized auction process approved on August 9, 2001. Following an auction held on October 11, 2001, SunGard's $825 million offer had been selected by Comdisco as the highest or otherwise best offer. On October 23, 2001, following commencement of the DOJ antitrust litigation and the receipt of an unsolicited increased bid from HP in the amount of $750 million supported by Comdisco's Official Committee of Unsecured Creditors, Comdisco announced that it would present both the HP and SunGard transactions to the Bankruptcy Court at the sales hearing completed today. At today's hearing, the Bankruptcy Court ruled in favor of the SunGard bid because the Court found that HP's $750 million offer was submitted outside the auction process and not in accordance with the Court-approved bidding procedures.

About Comdisco

Comdisco (www.comdisco.com) provides technology services worldwide to help its customers maximize technology functionality, predictability and availability, while freeing them from the complexity of managing their technology. The Rosemont, (IL) company offers a complete suite of information technology services including business continuity, managed web hosting, storage and IT Control and Predictability Solutions SM. Comdisco offers leasing to key vertical industries, including semiconductor manufacturing and electronic assembly, healthcare, telecommunications, pharmaceutical, biotechnology and manufacturing. Through its Ventures division, Comdisco provides equipment leasing and other financing and services to venture capital backed companies.

Safe Harbor:

The foregoing contains forward-looking statements regarding Comdisco. They reflect the company's current views with respect to current events and financial performance, are subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the actual results of the company to be materially different from any future results, express or implied by such forward-looking statements. The company intends that such forward-looking statements be subject to the Safe Harbor created by Section 27(a) of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The words and phrases "expect," "estimate," and "anticipate" and similar expressions identify forward-looking statements. Certain factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the DIP Facility; Court approval of the Company's first day papers and other motions prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 Cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a Chapter 11 trustee or to convert the Company's cases to Chapter 7 cases; the ability of the Company to reduce its workforce and related expenses and to achieve anticipated cost savings; year end audit and other procedures which may affect the Company's 2001 financial results; the ability of the Company to obtain trade credit, and shipments and terms with vendors and service providers for current orders; potential adverse developments with respect to the Company's liquidity or results of operations; the ability to fund and execute its business plan; the ability of the Company to attract, retain and compensate key executives and associates; the ability of the Company to attract and retain customers; potential adverse publicity; and adjustments arising in the course of completing the analysis of information with respect to the review of the company's businesses and evaluation of impairment charges; continuing volatility in the equity markets, which can affect the availability of credit and other funding sources to the high technology sector companies in the Ventures portfolio, resulting in the inability of those companies to satisfy their obligations in a timely manner and an increase in bad debt experience beyond current reserves; continued consolidation in the telecommunications industry and curtailment of the growth plans of the remaining companies in that sector, which could result in fewer buyers and reduced prices for available Prism assets, and a further reduction in the proceeds actually received from the sale of those assets compared to prior estimates and an increase in the losses associated with the discontinued operation. Other risk factors are listed from time to time in the company's SEC reports, including, but not limited to, the report on Form 10-Q for the quarter ended June 30, 2001. Comdisco disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.