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Procom Agrees to Sell the Intellectual Property Rights and Certain Related Assets Used in Procom's NetFORCE Disk-Based Storage Appliances Business to Sun Microsystems

Procom Agrees to Sell the Intellectual Property Rights and Certain Related Assets Used in Procom's NetFORCE Disk-Based Storage A

IRVINE, CA -- (MARKET WIRE) -- 05/13/05 -- Procom Technology, Inc. (OTC: PRCM) confirmed that its board of directors has unanimously approved the sale to Sun Microsystems, Inc. of all the intellectual property rights and certain related assets used in the operation of Procom's NetFORCE disk-based networked data storage appliances business for approximately $50 million in cash.

Under the terms of its definitive agreement with Sun, Procom expects to distribute approximately $20 million of the purchase price to Procom's equity holders promptly following the closing. The transaction is subject to customary closing conditions, including regulatory approvals and the approval of Procom's shareholders. The acquisition is expected to close in June 2005.

Procom was advised by Montgomery & Co. in connection with this transaction.

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