Distribution of Roxio Stock To Stockholders

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EXHIBIT 99.2


ADAPTEC APPROVES SPIN-OFF OF ROXIO; SETS RECORD DATE FOR
DISTRIBUTION OF ROXIO STOCK TO STOCKHOLDERS

MILPITAS, Calif., April 12, 2001 Adaptec, Inc. (Nasdaq: ADPT), the global leader in data storage access solutions, today announced that its Board of Directors has approved the spin-off of its digital media subsidiary, Roxio, Inc., and has declared a special stock dividend to Adaptec stockholders to distribute outstanding shares of Roxio that Adaptec owns. The special stock dividend is expected to be payable on May 11, 2001 to Adaptec stockholders of record on April 30, 2001, and will mark the completion of Roxio's spinoff from Adaptec. The trading of the common stock of Roxio on the Nasdaq National Market is expected to begin on May 14, 2001 under the ticker symbol "ROXI". The declaration and payment of the dividend is contingent upon Roxio's registration statement on Form 10 being declared effective by the Securities and Exchange Commission and compliance with applicable federal and state securities laws.

Roxio is a leading provider of digital media software solutions enabling individuals to create, manage and move audio, video, photos and data onto recordable compact discs. Roxio's CD burning software, Easy CD Creator for Windows and Toast for the Macintosh, is the best selling CD burning software in the world. As an independent company, Adaptec believes that Roxio, under the leadership of a dedicated senior management team, will be better able to focus on its core business of developing software to enable the consumer to create and enjoy digital content. The new independent company will also enhance its ability to pursue strategic opportunities including the expansion of its product offerings for music, video, photo and data.

Adaptec holders of record will receive a pro-rata distribution of Roxio common stock based on the number of Adaptec and Roxio shares outstanding on April 30, the record date, and a cash payment in lieu of any fractional shares ...