Comdisco Announces Fiscal Year End Financial Results.

ROSEMONT, Ill. -- Bankruptcy Court Approves Shared Investment Plan Guaranty Settlement; Company Offers Shared Investment Plan Participants New Settlement Proposal

Comdisco Holding Company, Inc. (OTC:CDCO) today reported financial results for its fiscal year ended September 30, 2004. Comdisco emerged from Chapter 11 on August 12, 2002. Under its Plan of Reorganization, Comdisco's business purpose is limited to the orderly runoff or sale of its remaining assets.

Operating Results: For the fiscal year ended September 30, 2004, the company reported net earnings of approximately $23 million, or $5.40 per common share (basic and diluted). The per share results for Comdisco Holding Company, Inc. are based on the 4.2 million shares of common stock outstanding on average for the year ended September 30, 2004.

For the year ended September 30, 2004, total revenue decreased by 64 percent to $108 million and net cash provided by operating activities decreased by 91 percent to $134 million, compared to the year ended September 30, 2003.

The company's total assets decreased by 47 percent to $198 million as of September 30, 2004 from $373 million at September 30, 2003. The $198 million of total assets as of September 30, 2004 included $157 million of unrestricted cash.

As a result of bankruptcy restructuring transactions, adoption of fresh-start reporting and multiple asset sales, Comdisco Holding Company, Inc.'s financial results are not comparable to those of its predecessor company, Comdisco, Inc. Please refer to the company's annual report on Form 10-K filed on December 14, 2004 for complete financial statements and other important disclosures.

Shared Investment Plan Guaranty Claim Settlement: On December 9, 2004, the Bankruptcy Court entered an order approving a settlement between the Shared Investment Plan (SIP) lenders and Comdisco of the SIP Guaranty Claim. The allowance of the claim had been appealed by Comdisco and during a mediation at the appellate level, Comdisco and the SIP lenders reached a settlement. The general terms of the settlement provide for an allowed claim of $133,000,000 that will be satisfied by a cash payment of $126,350,000 (less $ 3,456,496.74 credit for an interest swap setoff); assignment of the SIP notes and the related subrogation rights to either Comdisco or the litigation trustee; mutual releases; and the SIP lenders foregoing any and all rights: 1) to receive shares (and any dividends thereon) in Comdisco and 2) any right to receive future distributions from the disputed claims reserve. The settlement agreement must be closed by January 31, 2005 or the SIP lenders, at their sole discretion, may terminate the settlement agreement.

New Shared Investment Plan Relief: On December 13, 2004, Comdisco offered a new SIP relief proposal to those SIP participants that had not accepted the SIP relief previously offered by Comdisco. The new SIP relief is subject to approval by the Bankruptcy Court and requires that the SIP participants pay 20 percent of an adjusted amount (based on a standardized formula) of their respective obligation under the SIP notes. SIP participants with financial hardship may be eligible for additional relief and Comdisco will engage a debt reconciliation company to work with it and such SIP participants. Subject to Comdisco's discretion, if less than 40% of the SIP participants to whom the new SIP relief is proposed accept it, then Comdisco will not be obligated to offer it to any SIP participant or to seek Bankruptcy Court approval.

About Comdisco

Comdisco emerged from chapter 11 bankruptcy proceedings on August 12, 2002. The purpose of reorganized Comdisco is to sell, collect or otherwise reduce to money in an orderly manner the remaining assets of the corporation. Pursuant to Comdisco's plan of reorganization and restrictions contained in its certificate of incorporation, Comdisco is specifically prohibited from engaging in any business activities inconsistent with its limited business purpose. Accordingly, within the next few years, it is anticipated that Comdisco will have reduced all of its assets to cash and made distributions of all available cash to holders of its common stock and contingent distribution rights in the manner and priorities set forth in the Plan. At that point, the company will cease operations and no further distributions will be made. The company filed on August 12, 2004 a Certificate of Dissolution with the Secretary of State of the State of Delaware to formally extinguish Comdisco Holding Company, Inc.'s corporate existence with the State of Delaware except for the purpose of completing the wind-down contemplated by the Plan.

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 27A of the Securities Act of 1933 and Section 21E of the Securities 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 are listed from time to time in the company's SEC reports, including, but not limited to, the report on Form 10-K for the fiscal year ended September 30, 2004. 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.