Symantec Acquires Ghost, Expanding Corporate Solutions Set

Disk cloning simplifies and significantly reduces the time required to roll out and upgrade PCs

TORONTO, July 8-10, 1998 - Symantec Corporation (NASDAQ:SYMC), the world leader in utility software for business and personal computing, has announced that it purchased the assets of Binary Research Limited, the Auckland, New Zealand-based company that developed Ghost. The (US)$27.5 million acquisition of Ghost, the industry leading disk cloning technology, enhances Symantec's solutions for corporate customers by providing them with software tools that help to manage personal computer (PC) systems more effectively and cost efficiently.

Ghost is the clear leader in the disk cloning market with more than 3.5 million seats installed in the last 18 months. The product is used by more than half of the Fortune 500. Following Symantec's recent alliance with IBM, this announcement further enhances the company's strategy for serving corporate customers. The addition of Ghost to the Norton product family strongly supports Symantec's vision of making its customers as productive as possible and keeping their computers safe and reliable. The acquisition, which is non-dilutive, will also help Symantec reach its ongoing growth objectives. The company expects that between (US)$12 - $14 million of the purchase price will be expensed as in process R & D.

Customers use Ghost to more efficiently roll out and standardise new PCs, as well as upgrade current PCs. VARs and configuration centres use Ghost to apply a customer-defined image onto PC hard drives before they are sent to the customer. University computer labs and computer training centres use Ghost to "reset" many PCs to a known configuration at the end of each day. PC manufacturers also use the product to speed the process of applying an image to many new PCs.

Symantec will incorporate Ghost into other upcoming corporate solutions. The company plans to release a Norton-branded product in the September/98 quarter with European and Asian Double-Byte Character Set localised product to follow thereafter.

"Corporations suffer a tremendous amount of wasted productivity when they rollout out new PCs, whether it is 100 or 100,000, by manually installing the operating system and applications on each system," says Enrique Salem, vice president of Symantec's Security and Assistance Business Unit. "Our customers have clearly communicated a tangible need to address this problem. The addition of Ghost to our corporate solution set will help our customers make the rollout process faster, more efficient and reliable, resulting in reduced cost of ownership and increased productivity."

"The combination of Symantec and Ghost will greatly benefit the disk cloning market," adds Murray Haszard, president of Binary Research Limited. "There is exciting synergy at work here and Symantec's ability to more broadly market the product means that significantly more corporations and customers will benefit from Ghost's technology."

Haszard will remain with Symantec as general manager of the Ghost business, reporting to Enrique Salem. The Auckland, New Zealand facility will remain open as a development site.

About Symantec in Canada:
With 250 employees, Symantec’s Canadian operations are headquartered in Toronto with offices in Montréal, Ottawa and Vancouver. For information on Symantec products or current promotions, contact the Canadian office at (416) 441-3676 or access the World Wide Web

About Symantec
Symantec Corporation helps make users productive and keep their computers safe and reliable anywhere and anytime. Symantec offers a broad range of solutions and is acclaimed as a leader in both customer satisfaction and product brand recognition. The company is focused on addressing customer needs in three main application areas: the Norton product line of anti-virus and PC-assistance products; the pcANYWHERE, WinFax and ACT! product lines that cater to remote user productivity; and the Café product lines in Internet development tools.

Founded in 1982, the company's global operations span North America, Europe, Japan and several fast growing markets throughout Asia Pacific and Latin America. Traded on Nasdaq under the symbol SYMC, Symantec Corporation is based in Cupertino, California and employs more than 2,000 people. Information on the company and its products can be obtained by calling (800) 441-7234 toll free, (541) 334-6054 or accessed on the World Wide Web.

NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please view the Symantec Press Centre on Symantec's web site. Brands and products referenced herein are the trademarks or registered trademarks of their respective holders.

Brands and products referenced herein are the trademarks or registered trademarks of their respective holders. All prices noted are in US dollars.