IMATION CORP. ANNOUNCES SALE OF ITALIAN PLANT.

OAKDALE, Minn.--(BUSINESS WIRE)--July 30, 1996--Imation Corp. (NYSE:IMN), the new information and imaging company recently spun-off from 3M, today announced it will sell its offset printing plate production facility in Sulmona, Italy, to LASTRA Group of Manerbio, Italy, a leading worldwide producer of printing equipment. The sale is expected to be completed by August.

Terms of the sale were not disclosed. The transaction will have no impact on Imation's reported financial results for 1996.

Under the terms of the agreement, Imation will continue to distribute its line of conventional Viking(TM) brand PCL and PSM positive plates produced in Sulmona for the European market. Production and distribution of conventional printing plates within the United States and to other non-European markets will not be affected by the sale. The company will continue to focus on its Matchprint(TM) conventional proofing and Rainbow(TM) digital proofing systems.

"This decision is in line with our strategy of reducing costs and increasing operating efficiency by consolidating certain operations and, in the case of the LASTRA Group, outsourcing production to a high-quality manufacturer while retaining the distribution channel to our European customers," said Bill Monahan, chairman and chief executive officer of Imation.

As part of the transaction, the LASTRA Group has signed an exclusive contract with Imation to supply existing Viking(TM) brand plates to the European market.

"This transaction will allow us to continue to cost-effectively supply quality products to our existing European customers," said Chuck Oesterlein, Imation's vice president of operations, Printing and Publishing Systems. "However, to remain a leader in an industry that is quickly adopting new technologies, we need to focus our efforts on creating new leading-edge imaging solutions for our customers. Outsourcing production of our conventional plate products in Europe will help us focus our resources on developing future-oriented solutions for the printing and graphic arts market."

Launched as a spin-off of 3M on July 1, 1996, Imation is a $2.2 billion information and imaging company, based on 1995 revenues of the operations included in the spin-off. The company combines the manufacturing and marketing of products and services formerly produced by 3M's Data Storage Products, Medical Imaging and Photo Color Systems, Printing and Publishing Systems, and Customer Support Technology and Document Imaging operations. By integrating these operations, Imation will leverage the synergies between product development, manufacturing and distribution and create new market opportunities through shared technologies.

Headquartered in Oakdale, Minn., Imation markets more than 10,000 products in more than 60 countries and has approximately 10,000 employees. The company also maintains manufacturing, distribution and administrative operations in a number of international markets. More information on Imation is available on the World Wide Web at http://www.imation.com.

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