… And Quantum Commenced Tender Offer for Up to $142 Million

Quantum Corp. has commenced a tender offer for up to $142 million in aggregate principal amount of its outstanding 4.375% Convertible Subordinated Notes due 2010. Quantum intends to finance the tender offer with the net proceeds of a term loan it expects to receive from EMC Corporation, pursuant to a financing commitment for a term loan credit facility of up to $100 million.

The tender offer will expire at 5:00 p.m. EDT, on May 12, 2009, unless extended (as such time may be extended). Noteholders who validly tender, and do not properly withdraw, their Notes at or prior to the expiration date will receive $700 for each $1,000 principal amount of Notes purchased in the tender offer, plus accrued and unpaid interest to, but not including, the date of payment for the Notes accepted for payment. Tenders of Notes must be made at or prior to the expiration date, and Notes may be withdrawn at anytime at or prior to the expiration date.

To the extent that acceptances of all validly tendered Notes would require the Company to purchase more than $142 million in aggregate principal amount of Notes in connection with the Offer, Quantum will allocate acceptances on a pro rata basis among the tendering noteholders.

The tender offer is contingent upon the satisfaction of certain conditions, including that no less than $135 million in aggregate principal amount of Notes have been tendered to Quantum and that Quantum has received at least $100 million in gross proceeds from the EMC Loan. The closing of the EMC Loan is subject to the execution of definitive loan documentation and customary closing conditions.