Huawei Acquires Symantec Stake in Huawei Symantec Joint Venture

MOUNTAIN VIEW, CA and SHENZHEN, CHINA, Nov 14 (MARKET
WIRE) --
Huawei Technologies Co., Ltd. (Huawei) and Symantec Corp. (NASDAQ: SYMC)
today announced an agreement on a transaction where Huawei will acquire
Symantec's 49 percent stake in Huawei Symantec Technologies Co., Ltd.
(Huawei Symantec) for USD $530 million. Upon closing, the agreement will
give Huawei full ownership of Huawei Symantec.

Huawei Symantec is a Hong Kong-based joint venture established by Huawei
and Symantec in 2008.The company provides customers with innovative
security, storage and systems management solutions. Over the past few
months, Huawei and Symantec have held several rounds of discussions and
negotiations over the future of the joint venture. Huawei and Symantec
have mutually agreed that the next stage of growth for the joint venture
would benefit from the direction of a single owner.

"I am thrilled that Huawei Symantec will become a key pillar of Huawei's
ICT solutions. The integration of Huawei Symantec's innovative security
and storage technology with Huawei's enterprise products will reinforce
Huawei's leading position in cloud computing," said Guo Ping, Deputy
Chairman of Huawei. "Huawei Symantec has achieved tremendous success in
the past four years, having built a portfolio of products and solutions
that are widely recognized by our customers and business partners.
Looking ahead, Huawei will continue to increase investment in Huawei
Symantec, reaffirming its commitment to customers."

"Symantec achieved the objectives we set four years ago and exit the
joint venture with a good return on our investment, increased penetration
into China and a growing appliance business," said Enrique Salem,
president and chief executive officer, Symantec. "Today, China is one of
Symantec's fastest growing markets. It has grown 46 percent over the last
three fiscal years. We remain committed to ongoing investment in China as
well as building additional relationships in the region. Expertise gained
from this endeavor has also led to our growing appliance business that
provides our customers the additional choice of Symantec market leading
security and storage software in an easy to deploy appliance."

The agreement is subject to regulatory approvals and other customary
closing conditions and is expected to close in the first quarter of 2012.
Until the closing, Huawei and Symantec will continue to comply with their
commitments under the existing joint venture agreements.

Webcast and Conference Call Information
Symantec will host a conference
call and webcast today at 2 p.m. PT / 5 p.m. ET to discuss the sale of
Symantec's shares of the Huawei Symantec joint venture. The live
discussion can be accessed by dialing 888-726-2470 domestic and
913-312-1430 internationally, passcode 2427376. An audio webcast of the
call will also be available at www.symantec.com/invest. Please go to the
website at least 15 minutes early to register, download and install any
necessary audio software. A replay of the call will be available via
webcast at www.symantec.com/invest.

About Huawei
Huawei is a leading global information and communications
technology (ICT) solutions provider. Through our dedication to
customer-centric innovation and strong partnerships, we have established
end-to-end advantages in telecom networks, devices and cloud computing.
We are committed to creating maximum value for telecom operators,
enterprises and consumers by providing competitive solutions and
services. Our products and solutions have been deployed in over 140
countries, serving more than one third of the world's population.
For
more information, visit Huawei online: www.huawei.com.
Follow us on
Twitter: www.twitter.com/huaweipress
And YouTube:
http://www.youtube.com/user/HuaweiPress.

About Symantec
Symantec is a global leader in providing security,
storage and systems management solutions to help consumers and
organizations secure and manage their information-driven world. Our
software and services protect against more risks at more points, more
completely and efficiently, enabling confidence wherever information is
used or stored. More information is available at www.symantec.com.

NOTE TO EDITORS: If you would like additional information on Symantec
Corporation and its products, please visit the Symantec News Room at
http://www.symantec.com/news. All prices noted are in U.S. dollars and
are valid only in the United States.

Symantec and the Symantec Logo are trademarks or registered trademarks of
Symantec Corporation or its affiliates in the U.S. and other countries.
Other names may be trademarks of their respective owners.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking
statements within the meaning of U.S. federal securities laws, including
expectations regarding the closing of the sale of Symantec's interest in
the joint venture, that involve known and unknown risks and uncertainties
that may cause actual results to differ materially from those expressed
or implied in this press release. Such risk factors include the
satisfaction of closing conditions to the transaction. Actual results may
differ materially from those contained in the forward-looking statements
contained in this press release. Additional information concerning these
and other risk factors is contained in the Risk Factors section of
Symantec's most recently filed Form 10-K. Symantec assumes no obligation
to update any forward-looking statement contained in this press release.
The contents of the Symantec website shall not be deemed incorporated by
reference into this press release. Any forward-looking indication of
plans for products is preliminary and all future release dates are
tentative and are subject to change.

CONTACT:
Nicole Kenyon
Symantec Corp., Corporate Communications
650-527-5547
Nicole_kenyon@symantec.com

Helyn Corcos
Symantec Corp.
Investor Relations
650-527-5523
hcorcos@symantec.com

Ross Gan
Huawei, Corporate Communications
+ 86-755-28567243
Ross.gan@huawei.com

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