CreekPath Emerges from Exabyte to Provide Easy e-Storage Services for e-Business.Business Editors & High-Tech Writers BOULDER, Colo.--(BUSINESS WIRE)--July 17, 2000 CreekPath Systems, Inc. and Exabyte Corporation (Nasdaq:EXBT) today jointly announced the formation of a groundbreaking storage company, CreekPath Systems. Exabyte transfers considerable intellectual property and resources to launch CreekPath, including an undisclosed amount of "angel funding" capital. CreekPath's charter is to make e-storage easy for e-businesses by providing storage as a utility service. A Storage Service Provider (SSP (1) (Service Switching Point) The local exchange node in an SS7 telephone network. The SSP can be part of the voice switch or in a separate computer connected to it. ) such as CreekPath is a valuable resource for companies outsourcing Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. or application requirements at an Internet Data Center (IDC) or co-location facility See telecom hotel. . A CreekPath customer can easily budget storage expenses on a very high-performance Storage Area Network (SAN) that is provisioned and managed by CreekPath at a cost far less than purchasing and maintaining its own less robust storage equipment and software. CreekPath will supply e-storage services at Internet Data Centers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Three IDCs in major metropolitan regions will be operational in the next 90 days, with more than a dozen cities targeted by the end of the year. Businesses locating their Internet servers in any IDC providing CreekPath services can immediately benefit from easy e-storage. "Exabyte developed an outstanding mix of SAN management software and SAN integration expertise over the past several years," said Bill Marriner, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Exabyte. "The catalyst for CreekPath came when some very experienced managers developed an impressive business plan to deliver customer value from it." About Exabyte www.exabyte.com Exabyte Corporation is the leading supplier of tape storage devices and network storage solutions for the data intensive application and database server markets. Exabyte engineers and manufactures the Mammoth family of tape drives, premier storage media and libraries for MammothTape(TM), DLTtape(TM), and Ultrium(TM) tape technologies. About CreekPath Systems www.creekpath.com Boulder-based CreekPath Systems partners with ISPs to provision world-class Virtual Private Storage Networks (VPSN VPSN Virtual Private Storage Network (Web Office) VPSN Vancouver Public Space Network (Vancouver, British Columbia, Canada) ) at Internet Data Centers. E-storage services such as pay-as-you-grow capacity, 24x7 data availability Refers to the degree to which data can be instantly accessed. The term is mostly associated with service levels that are set up either by the internal IT organization or that may be guaranteed by a third party datacenter or storage provider. and backup protection are sold to the IDC's hosted and co-located e-businesses. An expanded version of this news release is available online at www.Creekpath.Com/prnews. Note to Editors: CreekPath Systems(TM), CreekPath i-SAN Attendant(TM), and the CreekPath "bobber" logo are trademarks of CreekPath Systems. Exabyte(R) and MammothTape(TM) are marks of Exabyte Corporation. Other marks are the property of their respective owners. Statements included in this news release that are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements are subject to risks and uncertainties. Actual events or results may differ materially from the forward-looking statements set forth herein. Exabyte has no obligation to update forward-looking statements. Readers are encouraged to refer to Exabyte's reports from time to time filed with the Securities and Exchange Commission for a further discussion of Exabyte's business and risk factors that may affect operating and financial results and forward-looking statements. |
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