SYSTEMS

SANTA CLARA, CA -- Hitachi Data Systems, a wholly-owned subsidiary of Hitachi, Ltd. (NYSE:HIT), today announced the arrival of its new president and chief executive officer, Mr. Shinjiro Iwata. The company further announced two significant, new additions to its executive management team: Marlene Woodworth, vice president and general manager, global marketing and operations; and Christine Wallis, vice president global strategy and planning. Iwata, a seasoned executive with a 29-year career at Hitachi, Ltd., will also serve as Hitachi Data Systems' managing director and chairman of the executive committee. Mr. Iwata succeeds Dr. Jun Naruse, who will return to Japan as executive officer of Hitachi Ltd.'s Information Systems & Telecommunications Group. "I am very pleased to return to Hitachi Data Systems as CEO," said Shinjiro Iwata. "I am also extremely impressed with the growth and progress achieved by the company since my earlier tenure here as executive vice president at Hitachi Data Systems just one year ago. Under my leadership the new executive team will continue to focus heavily on strategic direct sales, global alliances, and technology innovation to forge ahead with our goal of becoming the number one storage company by 2004." As executive vice president and general manager, global marketing and operations, Marlene Woodworth will focus on continuing the expansion of Hitachi Data Systems' direct sales engagements and worldwide channel initiatives. Woodworth formerly served as vice president of product marketing & management at Hitachi Data Systems and led marketing teams responsible for the successful global launches of the Hitachi Lightning 9900 and Thunder 9200 storage arrays. As vice president, global strategy and planning, Christine Wallis will collaborate closely with Hitachi, Ltd. to pursue investment and M&A opportunities for Hitachi's global storage business, a business where Hitachi, Ltd. is considering investing up to $1.25B for M&A within the next year (with an exchange rate of 124 yen to the dollar). Wallis formerly served as vice president of global storage marketing for Hitachi Data Systems from 1998-1999, and was promoted to vice president of the OEM business unit where she successfully managed the growth of Hitachi Data Systems' OEM sales to Hewlett-Packard until March, 2000. Wallis most recently served as vice president of the Corporate Venture Capital (CVC) unit of Hitachi America, Ltd., where she was a core member of the $80M fund, which created new business opportunities through investments in emerging technology companies. "It truly is an exciting time to welcome Mr. Iwata as the new leader of Hitachi Data Systems, especially now as the company gears up to take full advantage of its unique position in the storage marketplace," said Dave Roberson, COO, Hitachi Data Systems. "Our new senior executive team is comprised of the best talent and the most comprehensive experience, and will enable us to achieve our strategic goals in 2002, and continue to gain share in key market segments."