Hutchinson Extends Exchange and Tender Offers

Hutchinson Technology Inc. has extended its previously announced exchange offer and tender offers relating to its 3.25% Convertible Subordinated Notes due 2026 and 8.50% Convertible Senior Notes due 2026.

The Tender/Exchange Offers, as defined below, have been extended because the registration statement under which they are being conducted has not yet been declared effective by the Securities and Exchange Commission. Except for an extension of the expiration dates described below, all other terms, conditions and provisions of each of the Tender/Exchange Offers remain unchanged as of the date hereof.

The offer to exchange (any and all of the Outstanding 3.25% Notes for a news series of 8.50% Senior Secured Second Lien Notes due 2017 and the offer to purchase for cash up to $49,250,000 aggregate principal amount of Outstanding 3.25% Notes were scheduled to expire at 9:00 a.m., New York City time, on March 19, 2012. As extended, the Exchange Offer and the Outstanding 3.25% Notes Tender Offer will now expire at 9:00 a.m., New York City time, on March 28, 2012, unless further extended or terminated by the Company.

The offer to purchase for cash up to $26,666,000 aggregate principal amount of Outstanding 8.50% Notes and, together with the Outstanding 3.25% Notes Tender Offer and the Exchange Offer was scheduled to expire at 9:00 a.m., New York City time, on March 26, 2012. As extended, the Outstanding 8.50% Notes Tender Offer will now expire at 9:00 a.m., New York City time, on April 12, 2012, unless further extended or terminated by the Company.

The New Notes may not be issued prior to the time the registration statement under which the Tender/Exchange Offers are being conducted becomes effective. The full terms of the Tender/Exchange Offers, including descriptions of the New Notes and the material differences between the New Notes and the Outstanding 3.25% Notes, as well as other information related to the Tender/Exchange Offers, are contained in the preliminary prospectus and offer to purchase and the related transmittal documents, each filed as an exhibit to the Schedule TO, as amended, filed by the Company with the SEC on March 12, 2012.

As of 9:00 a.m., New York City time, on March 19, 2012, $43,256,750 aggregate principal amount of Outstanding 3.25% Notes had been tendered for exchange pursuant to the Exchange Offer, $21,088,000 aggregate principal amount of Outstanding 3.25% Notes had been tendered for purchase pursuant to the Outstanding 3.25% Notes Tender Offer, and $49,167,000 aggregate principal amount of Outstanding 8.50% Notes had been tendered for purchase pursuant to the Outstanding 8.50% Notes Tender Offer.

Houlihan Lokey has been retained to act as the dealer manager in connection with the Tender/Exchange Offers. The exchange agent and information agent for the Tender/Exchange Offers is D.F. King & Co.