Centron Expands European Presence Through Joint Venture With U.K.-based Xyratex.

MINNEAPOLIS--(BUSINESS WIRE)--Jan 7, 1997--

Companies team up to offer European customers a comprehensive

line of networking products and services

Centron announced today that it has formed a joint venture with Xyratex, an information storage company based in Havant, England. Through this joint venture, the two companies will offer networking products and services to the European market under the name Centron International. Terms of the agreement were not disclosed.

This venture marks an increase commitment to the European marketplace for Centron, a leading provider of networking products and services. The company offers design and consulting services for customers with a wide range of networking technologies, including packet and ATM switching as well as SNA environments. Centron also provides finance and leasing for network equipment. For Xyratex, this venture accelerates its growth in the networking markets.

"By combining our technical skills and knowledge of networks with Xyratex' proven technical and logistical capabilities, we can provide European customers with world-class products and technology," said Rick Soskin, president and chief executive officer of Centron. "Our combined expertise will help customers grow their networks while protecting their existing protocols and investments."

"The demand for networking systems is greater than ever, and the combined attributes of Xyratex and Centron will provide the basis for rapid growth," said Ken Wilkie, chief executive, Xyratex. "This new company will bring to the European marketplace an unparalleled service in the provision of networking solutions."

Several distinct competencies of both Centron and Xyratex will contribute to this venture. Centron specializes in the development of large corporate networks and has in-depth knowledge of switching technologies. Many of these networks have been integrated with existing SNA systems, allowing customers to save costs by building on existing systems rather than replacing them.

Xyratex has many years of experience in the manufacture and supply of networking products, including IBM's range of network communications controllers. In supporting this business, the company has developed specialized technical skills in networks and extensive experience in the European marketplace.

"We will offer integrated solutions for switched, open systems and SNA networks, combining one or more of these environments on a common network infrastructure or providing migration from one to the other," said Bob Smyth, director of European operations for Centron.

Centron is the largest Industry Remarketer of IBM products in the United States and is a licensed reseller for 3Com, Bay Networks, Cascade and Xylan. The company was founded in 1975 and is a wholly-owned subsidiary of GATX Capital Corporation.

GATX Capital is a diversified international financial services company which provides asset-based financing for transportation, industrial and information technology equipment. GATX Capital is a subsidiary of GATX Corporation (NYSE:GMT), which provides approximately $6 billion of service-enhanced asset primarily used to help its customers transport, store or distribute their products and information.

Xyratex is a major manufacturer of information storage and networking equipment and provides development and manufacturing services to the IT industry as well as storage subsystems and test system. Xyratex was established as an independent company in December 1994 and is headquartered in Havant, England. It also has facilities in the Netherlands, United States and Singapore.

CONTACT: Pam Cronin

Centron

612/903-2405

[e-mail]

or

Val Russell

Xyratex

44-170-544-3135

or

Mary Ellen Amodeo

Shandwick USA

612/832-5000 ext. 375

[e-mail]