Storage Computer Elects New CFO; Peter N. Hood Elected Chief Financial Officer As Company Builds Management Team

Business Wire,  May 30, 2000  

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Business/Technology Editors

NASHUA, N.H.--(BUSINESS WIRE)--May 30, 2000

Storage Computer Corporation (AMEX:SOS), a leading worldwide provider of high-performance storage, today announced that its Board of Directors has elected Peter N. Hood to the position of Chief Financial Officer. Mr. Hood's responsibilities also include management of the Company's Investor Relations and internal IT infrastructure.

Mr. Hood, was most recently owner and Chief Executive Officer of Phoenix Custom Molders, Inc., a custom manufacturer of plastic parts. From 1985 to 1993 he was a co-founder and Vice President of Phoenix Distributors, Inc., a business involved in the acquisition and consolidation of independent industrial gas distributors. From 1965 to 1985, Mr. Hood was with the accounting firm of Ernst & Young, becoming a Partner in 1976 specializing in corporate finance, mergers and acquisitions. He received his bachelor's degree from Northeastern University and is a CPA.

Ed Gardner, President and COO of the Company stated "Peter, who is joining our management team at a time of renewed growth and expansion opportunities, brings with him the unique combination of skills and experience of a seasoned senior financial executive needed by the Company at this juncture and will focus on creating a strong balance sheet through placement of private investments, and management of working capital.

About Storage Computer

Storage Computer Corporation develops and manufactures software-driven multi-host storage solutions used to drive core business applications. Storage Computer solves its customer's business problems through its StorageSuite(TM) product line and patented OmniRAID and OmniFORCE storage software. Storage Computer Corporation is a publicly held company traded on the American Stock Exchange under the symbol SOS. The Company's worldwide headquarters are in Nashua, New Hampshire, with subsidiaries and distribution in over 30 countries. Company information may be found on the World Wide Web at http://www.storage.com.

The Private Securities Litigation Reform Act of 1995 contains certain safe harbors regarding forward-looking statements. From time to time, information provided by the Company or statements made by its directors, officers or employees may contain `forward-looking' information, which involve risk and uncertainties. Any statements in this report that are not statements of historical fact are forward-looking statements (including, but not limited to, statements concerning the characteristics and the growth of the Company's market and customers, the Company's objectives and plans for future operations, possible acquisitions and the Company's expected liquidity and capital resources, and the possible outcome of litigation. Such forward-looking statements are based on a number of assumptions and involve a number of risks and uncertainties, and accordingly, actual results could differ materially. Factors that may cause such differences include, but are not limited to: the continued and future acceptance of the Company's products and services, the rate of growth in the industries of the Company's customers; the presence of competitors with greater technical, marketing and financial resources; the Company's ability to promptly and effectively respond to technological change which meets evolving customer needs; capacity and supply constraints or difficulties; and the Company's ability to successfully integrate new operations.

Storage Computer and RAID 7 are registered trademarks; and OmniRAID Server, OmniRAID SuperServer, and OmniForce are trademarks of Storage Computer Corporation. Windows NT is a registered trademark of Microsoft Corporation. All other trademarks and registered trademarks are the properties of their respective holders.

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