Historic Dell and EMC Transaction Set to Close on September 7, 2016

ROUND ROCK, Texas and HOPKINTON, Mass., Aug. 30, 2016 – Dell Inc. and EMC Corp. (NYSE: EMC) today announced that they
intend to close the transaction to combine Dell and EMC on Wednesday,
September 7, 2016.  Dell Technologies, the name of
the new combined company, will begin operating immediately following the close
of the transaction.

Today’s announcement follows regulatory approval of the Dell and
EMC transaction by China’s Ministry of Commerce (MOFCOM), which has granted
clearance for the companies’ proposed combination. MOFCOM approval was the
final regulatory condition to closing the transaction. EMC shareholders
approved the transaction on July 19, with
approximately 98 percent of voting EMC shareholders casting their votes in
favor of the merger, representing approximately 74 percent of EMC’s outstanding
common stock.

“This is an historic moment for both Dell
and EMC. Combined, we will be exceptionally well-positioned for growth in the most
strategic areas of next generation IT including digital transformation,
software-defined data center, converged infrastructure, hybrid cloud, mobile
and security,” said Michael Dell, chairman and CEO of Dell Technologies. “Our
investments in R&D and innovation, along with our 140,000 team members
around the world, will give us unmatched scale, strength and flexibility,
deepening our relationships with customers of all sizes.”

“I am proud of everything we’ve built at EMC – from humble
beginnings as a Boston-based startup to a global, world-class technology
company with an unyielding dedication to our customers,” said Joe Tucci,
chairman and chief executive officer of EMC.  “The combination of Dell and
EMC creates a new powerhouse in the industry – providing the essential
technology for the next era in IT.”

At closing, EMC shareholders will
receive $24.05 per share in cash in addition to a newly issued tracking stock
linked to a portion of EMC’s economic interest in the VMware business. Based on
the estimated number of EMC shares outstanding at the close of the transaction,
EMC shareholders are expected to receive approximately 0.111 shares of new
tracking stock for each EMC share.  Upon close of the transaction, EMC
shares under the ticker symbol “EMC” will be suspended from trading on the New
York Stock Exchange. Shares of the tracking stock, trading under the ticker
symbol “DVMT,” are expected to begin trading on the New York Stock Exchange on Wednesday,
September 7.

Dell Technologies listens to customers and delivers worldwide
innovative technology, business solutions and services that give them the power
to do more. For more information, visit www.dell.com.

EMC Corporation is a global leader in enabling businesses and
service providers to transform their operations and deliver IT as a service.
Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the
journey to cloud computing, helping IT departments to store, manage, protect
and analyze their most valuable asset – information – in a more agile, trusted
and cost-efficient way. Additional information about EMC can be found at www.EMC.com.