Berman, DeValerio & Pease Says MTI Technology Corp. Shareholders Face September 29 Deadline To File Lead Plaintiff Petition.

Business Editors and Legal Writers

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 12, 2000

MTI Technology Corp. (NASDAQ:MTIC) shareholders have until September 29 to file for lead plaintiff status in a pending securities fraud case brought by Berman, DeValerio & Pease LLP (www.bermanesq.com).

Berman, DeValerio & Pease, which has represented wronged shareholders for nearly two decades, filed the class action in the United States District Court for the Central District of California. The lawsuit seeks damages on behalf of anyone who purchased MTI common stock between July 22, 1999 and July 27, 2000 (the "Class Period").

The complaint charges that MTI and certain of its officers broke federal securities laws by issuing false and misleading statements about the company's financial condition and business prospects during the Class Period. In particular, the complaint accuses MTI of failing to tell shareholders about revisions to its compensation plan that cost the company more than $3 million in commissions and bonuses during the fourth quarter of 2000; MTI eventually reported a loss that quarter. In addition, the company failed to reveal that sales to dot-com companies were flagging and that it couldn't collect payments for products from dot-com companies, revelations which resulted in a substantial earnings shortfall for both the fourth quarter 2000 and the first quarter 2001. As a result of these disclosures, MTI's stock collapsed, falling from a Class-Period high of $54 3/8 to a low as $4 per share. Moreover, during the Class Period, but before the disclosures, top MTI executives sold company stock for more than $24 million.

The lawsuit seeks to recover damages on behalf of all those who purchased or otherwise acquired MTI common stock during the Class Period.

If you purchased MTI common stock during the period of July 22, 1999 through July 27, 2000, and suffered a loss on your investment, you may wish to contact the lawyers at Berman, DeValerio & Pease to discuss your rights and interests:

Jeffrey C. Block, Esq.

Jennifer L. Finger, Esq.

Berman, DeValerio & Pease LLP

One Liberty Square, Boston, MA 02109

E-Mail: [e-mail].

[phone]

or

Jennifer Abrams, Esq.

Berman, DeValerio, Pease & Tabacco

425 California Street, Suite 2025,

San Francisco, CA 94104

[phone]

You can also visit us at our website at www.bermanesq.com.

If you wish to apply to be lead plaintiff in this action, a motion must be filed on your behalf with the court no later than September 29, 2000. To be a member of the class you need not take any action at this time and you may retain counsel of your own choice. To serve as lead plaintiff, however, you must meet certain legal requirements. You may contact the attorneys at Berman, DeValerio & Pease to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action.

With offices in Boston and San Francisco, Berman, DeValerio & Pease LLP has prosecuted shareholder class actions since 1982, recovering more than $1 billion for defrauded investors during that time. The firm has acted as lead counsel in numerous lawsuits in which its clients accused companies of violating federal securities laws. It has successfully litigated these actions and has been singled out for its excellence by many courts.