Quantum Revised Its Tender Offer

Quantum Corp. announced, in connection with its previously announced tender offer for its 4.375% Convertible Subordinated Notes due 2010 (CUSIP Nos. 747906 AD 7 and 747906 AE 5), that it is increasing the purchase price pursuant to the tender offer from $740 per $1,000 principal amount of Notes to $850 per $1,000 principal amount of Notes and extending the expiration date from 5:00 p.m. EDT today to 5:00 p.m. EDT on May 27, 2009.

Noteholders who have validly tendered and not properly withdrawn their Notes prior to the new expiration date of 5:00 p.m. EDT on May 27, 2009 (as such date and time may be further extended), including noteholders who tendered their Notes prior to today’s announcement, will be eligible to receive the increased purchase price, subject to the terms and conditions of the tender offer. Noteholders may withdraw tendered Notes at any time on or before the new expiration date.

Quantum also announced today that it is decreasing the aggregate principal amount of Notes it is offering to purchase pursuant to the tender offer from $135 million to $117 million. To the extent that acceptances of all validly tendered Notes would require Quantum to purchase more than $117 million in aggregate principal amount of Notes in the tender offer, Quantum will allocate acceptances on a pro rata basis among the tendering noteholders. In addition, Quantum announced today that it is waiving the minimum tender condition to consummation of the tender offer. Previously, acceptance for payment of any Notes in the tender offer was conditioned upon the valid tender (without proper withdrawal) of a minimum of $135 million in aggregate principal amount of Notes. As a result of the waiver, Quantum will accept for payment all Notes that are validly tendered and not properly withdrawn in the tender offer, up to a maximum of $117 million in aggregate principal amount, and subject to the remaining terms and conditions of the tender offer.

Except for the new terms announced today, all terms and conditions of the tender offer remain unchanged. The complete terms and conditions of the tender offer are set forth in an Offer to Purchase, dated March 27, 2009, and the related Letter of Transmittal, each as amended or supplemented from time to time.

As of 5:00 p.m. EDT today, approximately $27 million in aggregate principal amount of Notes have been validly tendered and not properly withdrawn pursuant to the tender offer.