Comdisco Reaches Agreement with Creditors' and Equity Committees on Consensual Plan: Bankruptcy Court Approves Comdisco Disclosure Statement.

Business Editors

ROSEMONT, Ill.--(BUSINESS WIRE)--June 14, 2002

Voting Deadline Set for July 19, 2002

Plan Confirmation Hearing Scheduled for July 30, 2002

Comdisco, Inc., (OTC:CDSOQ) announced that it has reached agreement with its Official Committee of Unsecured Creditors and Equity Committee on a consensual Plan of Reorganization, and that both committees support confirmation of the Plan. The company also announced that yesterday it received approval for its amended Disclosure Statement and procedures for solicitation of votes for the confirmation of its First Amended Plan of Reorganization from the United States Bankruptcy Court for the Northern District of Illinois.

The amended Plan provides for a three-year orderly runoff of the company's remaining assets. The distribution of the net proceeds realized from such runoff, as well as the cash accumulated to date, are anticipated to result in an approximately 90% recovery to creditors. Common shareholders will share in the net proceeds realized, beginning at 3% of the remaining net proceeds once creditors realize an 85% recovery, and scaling up to a 37% recovery in any remaining net proceeds should the creditors realize 100% recovery on their claims.

Beginning next week, copies of the Plan and Disclosure Statement and full details of the procedures for voting on or objecting to the Plan will be mailed to all creditors and stockholders entitled to vote on the Plan. Votes must be properly completed and received by the voting agents no later than July 19, 2002, at 4:00 p.m. (EDT) to be counted. Acceptance of the Plan requires approval of the Bankruptcy Court and the affirmative votes (i.e. 50 percent of the number and 66 2/3 percent of the dollar amount) of each class of claimants entitled to vote on the plan. The Bankruptcy Court may also confirm a plan notwithstanding the non-acceptance of the plan by an impaired class of creditors or equity holders if certain requirements of the Bankruptcy Code are met.

"We've worked hard to gain the support of both of Comdisco's statutory committees, representing the interests of our creditors and stockholders," said Norm Blake, Comdisco chairman and chief executive officer. "We're extremely pleased that they agree with the company that the amended Plan provides the best recoveries possible and that they support confirmation of the Plan. This is an important milestone in our Chapter 11 process and we look forward to emergence from bankruptcy within the next two months."

The Court also approved the retention of Innisfree M&A Incorporated and Logan & Company as Comdisco's special noticing and voting agents and the setting of May 24, 2002 as the record date for claimants to be eligible to vote on the Plan.

A Confirmation Hearing on the Plan is scheduled for July 30, 2002. Comdisco is targeting emergence from Chapter 11 in mid-August of 2002.

About Comdisco

Comdisco (www.comdisco.com) provides technology services to help its customers maximize technology functionality and predictability, while freeing them from the complexity of managing their technology. The Rosemont (IL) company offers information technology and telecommunications equipment leasing to a broad range of customers. 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: 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 March 31, 2002. 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.