Move further focuses Imation on strategic product platforms, business goals

OAKDALE, Minn., (Nov. 20, 1996) -- Imation Corp. (NYSE: IMN), the new information and imaging company recently spun off from 3M, today announced that it expects to end the sale of Imation Onyx™ brand polyester plates, effective June 30, 1997. The action is not expected to have a material impact on the company's total revenue in 1997 or beyond.

"Imation's strategy is to expand our leadership position in digital and conventional proofing and to strengthen our ability to deliver digital workflow solutions that are of greater value to our customers and Imation," said Chuck Oesterlein, vice president of Imation's Printing and Publishing Systems unit. "In addition to retaining our highly successful Viking™ line of metal plates, we are strongly committed to developing differentiated conventional film and plate products that feature both wet and our new dry process technology."

Oesterlein added that Imation is committed to helping its current Onyx customers evaluate alternative options, whether by assisting in the conversion of machines to accommodate other manufacturers' plates, or by assisting the customer in choosing new technology solutions.

Imation will no longer sell the 3M 1190 Onyx Platemaker, effective immediately, but will continue to provide parts and service for equipment under its existing customer agreements.

Imation expects to produce Onyx plates at its facility in Rochester, N.Y., through mid-December 1996, and, based on current demand, expects to supply customers through June 30, 1997. (In April 1996, 3M announced that the Rochester facility would be closed by July 1, 1997.)

New Strategy Gathers Pace

According to Oesterlein, Imation's strategy of providing differentiated conventional products is well under way.

"In the past three months, we've announced new 'no-process' plates, alliances to develop dry imaging film capabilities and extensions to our 3M Matchprint™ proofing line from Imation," Oesterlein said. "We've also acquired Luminous Corporation, a leading developer of prepress software, and announced extensions to our Imation Rainbow™ digital proofing line, including software for Windows NT™ and a large-format proofing system. Overall, we're uniquely positioned to guide customers toward productive solutions throughout the printing and publishing workflow."

Imation already has a successful history in dry film for the medical imaging industry. The company's DryView™ laser imaging systems revolutionized medical imaging technology with its 1995 introduction. To date, more than 1,500 DryView systems have been shipped and installed in various locations worldwide.

Imation supplies a variety of products and services worldwide for the information processing industry, specializing in imaging applications and information storage. The company manufactures and markets digital and conventional proofing systems, including the industry standard Matchprint™ color proofing system, imagesetting materials, printing plates, graphic arts films, carbonless paper products and chemistries to customers worldwide. The business units that make-up Imation had 1995 revenues of $2.2 billion while part of 3M.

The company employs approximately 9,400 people worldwide and is based in Oakdale, Minn. Additional information about Imation is available on the company's website at http://www.imation.com.

3M is trademarks of Minnesota Mining and Manufacturing Company. Imation, Onyx, Viking, Matchprint, Rainbow and DryView are trademarks of Imation Corp. Windows NT is a trademark of Microsoft Corporation.

96-PPS-35

Copyright 1996 Imation. All rights reserved.