Hutchinson Announces Results of Exchange Offer

Hutchinson Technology Incorporated announced the final results of its previously announced offer to exchange for new securities and cash, at the election of each holder and subject to certain limitations, up to $60,000,000 of its 3.25% Convertible Subordinated Notes due 2026 (the Old Notes). The exchange offer for the Old Notes expired at midnight, New York City time, on July 15, 2011.

The company has been advised by Global Bondholder Services Corporation, the exchange and information agent for the exchange offer, that, as of the expiration of the offer, $45,963,000 aggregate principal amount of Old Notes had been tendered for exchange, representing approximately 38 percent of the principal amount of the outstanding Old Notes. The consideration for the exchange offer will be delivered promptly by the exchange and information agent.

In accordance with the terms of the exchange offer, the company will issue $45,170,000 aggregate principal amount of its 8.50% Convertible Senior Notes due 2026 (the New Notes), and will make aggregate cash payments of $2,987,595, plus cash amounts to be paid for fractional interests, in exchange for the $45,963,000 aggregate principal amount of Old Notes tendered for exchange.

A total of $76,243,000 principal amount of Old Notes will remain outstanding after completion of the exchange offer.

Citadel Securities, LLC acted as the dealer manager in connection with the exchange offer.