EMC Increases Its All-Cash Offer to Acquire Data Domain to $33.50 Per Share

• EMC's All-Cash Offer Clearly Superior to NetApp Proposal
• EMC Receives Early Termination from FTC Removing All Regulatory Conditions to Proceed with Data Domain Transaction
• EMC Removes Break-Up Fee and Other Deal Protection Provisions from Its Definitive Agreement and Urges Data Domain to Pledge to Do the Same

• EMC Prepared to Close Transaction in as Little as Two Weeks, Which is Almost a Month Faster than the NetApp Proposal; Extends Expiration of its Tender Offer until 12:00 Midnight on July 17

EMC Corporation [NYSE: EMC] today announced that it has increased its offer to acquire all the outstanding common stock of Data Domain, Inc. [NASDAQ: DDUP] to $33.50 per share in cash, for a total enterprise value of approximately $2.1 billion, net of Data Domain's cash.  In submitting its revised proposal to Data Domain's Board of Directors, EMC emphasized that its all-cash offer is clearly superior to the $30 per share stock-and-cash proposal from NetApp.  EMC has removed from its definitive agreement all deal protection provisions that could further impede the maximization of stockholder value for Data Domain stockholders, and urged the Data Domain Board to do the same.  EMC is prepared to close the transaction within two weeks, which is almost a month faster than the NetApp proposal.

The Superiority of EMC's All-Cash Offer

Joe Tucci, EMC Chairman, President and CEO, in a letter sent today to Aneel Bhusri, Chairman of the Board of Directors of Data Domain, emphasized the superiority of EMC's all-cash offer compared to NetApp's proposed stock and cash offer. In his letter, Mr. Tucci pointed out that:

• EMC's proposal provides higher absolute value for each Data Domain share.
• EMC's all-cash proposal offers greater certainty of value to Data Domain stockholders.
• EMC's proposal offers a faster time to completion by almost a month than under the NetApp proposal.

Additionally, EMC's definitive agreement has removed all deal protection provisions -- including any break-up fee obligation -- that could further impede the maximization of stockholder value for Data Domain stockholders.  The letter from Mr. Tucci urges Data Domain's Board to pledge to do the same in order to maximize value for Data Domain stockholders.  The letter states EMC's view that, "Data Domain does not have any justification for continuing deal protection provisions for NetApp or any other party given our willingness to proceed without them," and that, "It was questionable agreeing to deal protections in your initial agreement with NetApp, when you knew of our interest in acquiring the company.  There is no basis for continuing with them now."

EMC's proposal is not subject to any financing, due diligence or regulatory contingency.  EMC will use existing cash balances to finance the transaction.