Recognized by Red Herring Editors for Innovation and Business
Strategy
SANTA CLARA, California, June 3, 2002 — Hitachi Data Systems, the world's fastest growing enterprise storage provider and a wholly owned subsidiary of Hitachi, Ltd. (NYSE: HIT), has been chosen by the editors of Red Herring Magazine as "one of the 100 companies most likely to change the world." The selection was made on the basis of Hitachi Data Systems' superior innovation and business strategy in the past year.
Red Herring, the premier magazine of business technology and innovation, annually recognizes the top 50 public and the top 50 private companies whose services, business models, products and quality of management define business innovation in its "Red Herring 100" list. Hitachi Data Systems was cited as one of the top 50 public companies.
"We are honored to be recognized by Red Herring Magazine for our record performance over the past year," said Dave Roberson, president and chief operating officer, Hitachi Data Systems. "As we continue to build on our momentum and seize the leadership position in the data storage industry, we plan to change the landscape of the information technology industry."
In its sixth year, "The Red Herring 100" has become the most respected list of its kind, previewing the leaders of tomorrow in a number of key technology-related sectors, including software, hardware, biotechnology, wireless, communications services, media, nanotechnology, consumer electronics, and energy. Red Herring editors compile the list by using the same combination of subjective insights and hard metrics favored by venture capitalists and investment bankers: the company's ability to disrupt existing markets or create entirely new ones, execution of its strategy, the quality of its management, and financial performance.
"The Red Herring 100 issue is our annual survey of everything that is great about technology, innovation, and entrepreneurial capitalism," said Blaise Zerega, editor, Red Herring Magazine. "These limit-breaking companies are tackling challenges unique to their sectors. Ultimately, all Red Herring 100 companies are proof that innovations matter — not just technologically, but because they fulfill pressing needs."About Hitachi Data Systems
The Red Herring 100 is featured in the June 2002 issue of Red Herring magazine and is also available on http://www.redherring.com/. It includes a short profile of Hitachi Data Systems.
Hitachi Data Systems, the fastest growing enterprise storage provider, is a leading supplier of storage hardware, software, solutions and services. As a wholly owned subsidiary of Hitachi, Ltd. (NYSE: HIT), Japan's largest electronics company, HDS is committed to providing the storage infrastructure for the world's most information-intensive corporations. With 2,600 employees, Hitachi Data Systems does business through direct sales and resellers in the public and private sectors in 170 countries and regions on six continents. Its customers include more than 50 percent of Fortune 100 companies. For more information, please visit our Web site at www.hds.com.
Hitachi, Ltd., headquartered in Tokyo, Japan, is a leading global electronics company, with approximately 320,000 employees worldwide. Fiscal 2001(ended March 31, 2002) consolidated sales totaled 7,994 billion yen ($60.1 billion*). The company offers a wide range of systems, products and services in market sectors, including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company's Web site at www.hitachi.com.
*At an exchange rate of 133 yen to the dollar.
Contacts: PR
Jodi Reinman, Hitachi Data Systems, (408) 970.1050, jodi.reinman@hds.com
Freedom Storage, Lightning 9900, and HiCommand are trademarks of Hitachi Data Systems.
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