News release

DVD+RW Alliance Adds Write-Once Capability to DVD+RW Format

DVD+R will offer consumers all benefits of DVD+RW

SAN FRANCISCO, Calif., May 17, 2001

The DVD+RW Alliance, a group of companies committed to the benefits of the DVD+RW format, today announced the addition of write-once (DVD+R) capabilities to rewritable DVD+RW products slated to be introduced this summer.

The DVD+RW Alliance discussed DVD+R during an Alliance-sponsored conference with software vendors in San Francisco.

"With rewritable CD technology, consumers preferred a choice between rewritable discs and those that can be written only once, for permanent storage," said John Spofford, vice president and general manager, HP Personal Storage Solutions. "Given this, the DVD+RW Alliance will support a write-once DVD+R capability that allows consumers to safely archive their scanned documents, presentations, home videos, and photos."

DVD+R discs will offer seven times the storage capacity of a CD-R, can be written and read by DVD+RW drives, and can be played back in the majority of DVD-ROM drives and DVD Video players in use today. Because of this, the DVD+RW Alliance believes DVD+R is the logical extension of CD-R technology and will enable a new level of convergence for digital video.

"CD-R and CD-RW gave the world a seamless media exchange between the personal computing and consumer electronics environments for data and music," said Spofford. "Now, DVD+R and DVD+RW will do the same for digital video and images."

Further information about DVD+R and DVD+RW can be found by visiting www.dvdrw.com.

About The DVD+RW Alliance

Hewlett-Packard Company (NYSE: HWP), MCC/Verbatim, Philips Electronics (NYSE: PHG), Sony Corporation, Ricoh Company Ltd. and Yamaha Corporation, the developers, promoters and leaders in CD-R and CD-RW technology, are developing the next generation of optical storage technology with the DVD+RW format. The companies promote the universally compatible, rewritable DVD format that enables true convergence between personal computing and consumer electronics products. DVD+RW discs written on a DVD+RW recorder can be read and played on the vast majority of existing and future DVD-Video players and DVD-ROM drives. Thomson Multimedia (NYSE: TMS), manufacturer of RCA entertainment products, recently joined the companies to actively support and promote DVD+RW. More than 25 additional companies have formally pledged support for DVD+R and DVD+RW technology.

About HP

Hewlett-Packard Company -- a leading global provider of computing and imaging solutions and services -- is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and solutions for an Internet infrastructure that's always on.

HP had total revenue from continuing operations of $48.8 billion in its 2000 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.

About Mitsubishi Chemical Corporation

Mitsubishi Chemical Corporation (MCC) is Japan's largest chemical company and one of the world's leading manufacturers of information storage products. In a line-up of data and image storage media, MCC holds a strong market share in markets such as DVD-R discs, CD-R and CD-RW discs, 90 mm and 130 mm MO discs, 130 mm WORM discs, hard disc media, as well as tape cartridges and floppy discs. Many of these products are marketed through Verbatim Corporation, which is a wholly owned subsidiary of MCC. Mitsubishi Chemical Corporation has approximately 10,000 employees, and on a consolidated basis recorded revenues of approximately $13 billion for the year ended March 31, 1999. Interested parties can contact the company by calling 81-3-3283-6631 or by faxing to 81-3-3283-6966.

About Philips Electronics

Royal Philips Electronics of the Netherlands is one of the world's biggest electronics companies and Europe's largest, with sales of EUR 37.9 billion in 2000. It is a global leader in color television sets, lighting, electric shavers, color picture tubes for televisions and monitors, and one-chip TV products. Its 219,400 employees in more than 60 countries are active in the areas of lighting, consumer electronics, domestic appliances, components, semiconductors, and medical systems. Philips is quoted on the NYSE (symbol: PHG), London, Frankfurt, Amsterdam and other stock exchanges. News from Philips is located at www.news.philips.com.

About Ricoh Company, Ltd.

Ricoh Company, Ltd. is one of the world's leading manufacturers of office equipment. Ricoh is the first manufacturer of CD-RW media and CD-R/RW drives, and is also a manufacturer of CD-R media. Ricoh immediately incorporates the latest CD-RW standards to produce high-speed reliable products. With the combination of media and drive technology, Ricoh is offering high performance and reliable optical disc products. One example is the unique MP9120A drive, which can handle not just CD-ROM, CD-R or CD-RW media, but can even play back DVD-ROMs in one unit. Additionally, "JustLink", which is new buffer under run prevention technology, is applied on the drive. The Ricoh group consists of 122 consolidated subsidiaries and affiliates in Japan and 268 overseas, which include production, sales as well as research and development facilities. As of March 2001, the Ricoh group employed approximately 67,300 people with recorded annual revenues of \1,538 billion. Additional information about Ricoh and its products can be found at http://www.ricoh.co.jp.

About Sony Corporation

Sony Corporation is a leading manufacturer of audio, video, game, communications and information technology products for the consumer and professional markets. With its music, pictures, computer entertainment and on-line businesses, Sony is uniquely positioned to be a leading broadband entertainment company in the world. Sony recorded consolidated annual sales of more than $63 billion for the fiscal year ended March 31, 2000. Sony's Home Page URL: http://www.world.sony.com/.

About Thomson Multimedia

With sales of 9.1 billion Euros (U.S. $8.3 billion) in 2000 and 67,000 employees in more than 30 countries, Thomson multimedia (Paris Sicovam: 18453) (NYSE: TMS), provides a wide range of technologies, systems, finished products and services to consumers and professionals of the entertainment and media industries. To advance and enable the digital media transition, Thomson multimedia has five principal activities: Displays and Components, Digital Media Solutions, Consumer Products, New Media Services, and Patents and Licensing. The company distributes its products under the popular THOMSON and RCA brand names. For more information: http://www.thomson-multimedia.com.

About Yamaha Corporation

Yamaha Corporation is the world's largest musical instrument manufacturer. While Yamaha products have changed with the times and have seen extensive diversification, neither the products nor the foundation of Yamaha's business has strayed far from its original focus on sound. New Yamaha business ventures are expanding from its fundamental expertise in sound, music and multimedia, and innovative products such as Yamaha sound and image LSIs are used widely in computers and game units. Yamaha also anticipates a substantial increase in sales of CD-RW drives and other products central to the fast-developing field of information technology. The Yamaha Group now has 61 subsidiaries and representative offices in overseas markets in addition to numerous related companies in Japan. Yamaha recorded consolidated annual sales of approximately $5 billion in the fiscal year ended March 31, 2000. More information about Yamaha can be found on their website at http://www.yamaha.co.jp/.