Seagate Technology Announces Full Redemption of 8% Senior Notes Due 2009

Seagate Technology (NYSE:STX) announced today that it has called for full redemption on October 25, 2006 (the “Redemption Date”) its 8% Senior Notes Due 2009 (the “Notes”). The aggregate principal amount of Notes issued and outstanding remains at $400 million.

The redemption price for the Notes is $1,040 per $1,000 principal amount of Notes, plus accrued interest to, but excluding, the Redemption Date. Accordingly, interest will cease to accrue on all Notes after the close of business on October 24, 2006.

A Notice of Redemption is being sent by U.S. Bank National Association, the trustee for the Notes, to all registered holders of the Notes. Copies of the Notice of Redemption and additional information related to the procedure for redemption may be obtained from U.S. Bank National Association by calling 415-273-4512.

Read the complete Press Release