StorageTek and Avid Sign Strategic Alliance Agreement to Provide Digital Content ArchivingLAS VEGAS--(BUSINESS WIRE)--April 18, 2004--StorageTek^® (Storage Technology Corporation, NYSE:STK), the data storage solutions expert, and Avid Technology, Inc. (NASDAQ: AVID), the worldwide leader in digital nonlinear media creation, management and distribution solutions, today announced a strategic alliance agreement that enables Avid^® to resell StorageTek's premier L-Series and SL-Series tape libraries and associated tape drives to enterprises in the broadcast and postproduction industries. Through this agreement, customers will benefit from the combined expertise of two industry leaders to achieve advanced management and protection of their valuable digital media assets.

"Today's broadcast and postproduction enterprises require high performance, reliable storage management solutions to help them archive and protect their ever growing digital content repositories," said Bob Koecheler, StorageTek vice president, global partners and alliances. "Our world-class tape storage solutions extend the value of Avid's industry-leading media management infrastructure, which has become a staple in both broadcast and postproduction content creation environments. With StorageTek products offered as part of Avid's end-to-end solution, customers can further maximize production efficiencies, widening the potential for growth and expanded revenue opportunities in the future."

David Schleifer, director of Broadcast and Workgroups for Avid Technology, Inc. said, "StorageTek's best-of-breed tape library solutions complement Avid's storage and asset management systems, enabling our customers to seamlessly integrate powerful archiving capabilities into their existing workflows. Our agreement with StorageTek streamlines the process, making it easier for customers to evaluate their archival needs and clearly understand how Avid and StorageTek products work together to improve production efficiencies."

StorageTek and Avid Technology will be exhibiting and demonstrating their respective digital media management solutions at NAB 2004 in Las Vegas, April 17 - 22. Show attendees can visit StorageTek at booth # SL2769H and Avid Technology at booth # SL4761. Avid will be hosting live demonstrations of StorageTek's next-generation StreamLine SL8500 automated tape library throughout the week.

About Avid Technology, Inc

Avid Technology, Inc. is the world leader in digital nonlinear media creation, management and distribution solutions, enabling film, video, audio, animation, games, and broadcast professionals to work more efficiently, productively, and creatively. For more information about the company's Oscar ^®, Grammy ^®, and Emmy ^® award-winning products and services, please visit: www.avid.com.

About StorageTek

StorageTek is a $2 billion global company that enables businesses, through its information lifecycle management strategy, to align the cost of storage with the value of information. The company's innovative storage solutions manage the complexity and growth of information, lower costs, improve efficiency and protect investments. For more information, see www.storagetek.com, or call 1.800.786.7835.

TRADEMARKS: StorageTek and the StorageTek logo are registered trademarks of Storage Technology Corporation. Other names mentioned may be trademarks of Storage Technology Corporation or other vendors/manufacturers.

Avid is either a registered trademark or trademark of Avid Technology, Inc. in the United States and/or other countries.

    CONTACT: StorageTek
             Joe Fuentes, 303-661-2523
             joe_fuentes@storagetek.com
             or
             Avid Technology, Inc
             Amy Paladino, 978-640-3051
             amy_paladino@avid.com

    SOURCE: Avid Technology, Inc