Roxio, Inc. Files Registration Statement for Initial Public Offering

Roxio, Inc. Files Registration Statement for Initial Public Offering

MILPITAS, Calif., September 27, 2000 - Roxio, Inc., a wholly owned subsidiary of Adaptec, Inc., today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission. Roxio will sell all of the shares in this offering. The managing underwriters for this offering are Morgan Stanley Dean Witter, U.S. Bancorp Piper Jaffray and Wit SoundView.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction.

When available, a copy of the written preliminary prospectus relating to the offering may be obtained from Morgan Stanley & Co. Incorporated, 1585 Broadway, New York, NY 10036

Adaptec announced earlier this year it would spin off its' Software Products Group, recently named Roxio, Inc. Adaptec anticipates that an initial public offering of Roxio's common stock should be completed by the end of this calendar year. Management's intention is to distribute the remaining shares in a tax-free distribution to Adaptec stockholders, pending approval by Adaptec's Board of Directors and receipt of tax-free letter ruling from the IRS.

About Roxio

Roxio, a division of Sonic Solutions, develops and markets the best-selling digital media software in the world. Roxio offers award-winning software products for CD/DVD burning, photo editing and video editing and has an installed base of over 150 million users. Roxio distributes its products globally through strategic partnerships with major hardware manufacturers, through leading retailers, through Internet partnerships and through direct sales at www.roxio.com. Roxio's parent company, Sonic Solutions (NASDAQ: SNIC; http://www.sonic.com) is the leader in digital media software and provides a broad range of software tools and applications for creative professionals, business and home users and technology partners. Sonic's products range from professional DVD authoring systems and interactive content delivery technologies that are used to produce the majority of Hollywood movies released on DVD, to the award-winning Roxio- and Sonic-branded CD and DVD creation, playback and backup applications that have become the premiere solutions for consumers and business users worldwide. Sonic's AuthorScript® is the de facto standard for CD and DVD burning and formatting and has been licensed by major software and hardware manufacturers, including Adobe, Broadcom, Microsoft, Scientific-Atlanta, Sony, and many others. Sonic Solutions is headquartered in Marin County, California.

Sonic, the Sonic logo, Sonic Solutions, Roxio, MyDVD, CineMagic, Plug & Burn, LiveShare, Roxio Easy Media Creator, and AuthorScript are trademarks or registered trademarks of Sonic Solutions or its subsidiaries in the United States and/or other countries. Dolby is a trademark of Dolby Laboratories. All other company or product names are trademarks of their respective owners and, in some cases, are used by Sonic Solutions under license. Specifications, pricing and delivery schedules are subject to change without notice.