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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: hlpinout who wrote (94187)	12/12/2001 11:04:49 AM
From: Elwood P. Dowd	Read Replies (1) \| Respond to of 97611

Wednesday December 12, 11:00 am Eastern Time Press Release SOURCE: Compaq Computer Corporation and Regus Regus Cuts IT Costs By 40% HOUSTON, Dec. 12 /PRNewswire/ -- As part of the radical restructuring of its global business, Regus, the world's leading provider of serviced office accommodation, has struck a landmark deal with three top international technology suppliers to outsource its core IT support and infrastructure requirements across its 390 business centers in 50 countries. In a US$ 36 million deal, Regus is working with Compaq, as its lead supplier, and COLT Telecom and Cedar, to outsource the management of its global data center, local and wide area networks, hardware infrastructure, operating systems, help desk & engineering support, business continuity and e-business applications. Regus will house the core of the new outsourcing team at its business center at Bristol Temple Quay in the UK. Mark Dixon, CEO of Regus, commented: ``This is a great deal for Regus and a great deal for our customers. This outsourcing deal means that we double our service levels, while reducing costs by almost 40%. We also gain a technology platform through which a broad range of new products and services will be delivered to Regus customers.'' Rene Schuster, chief executive, Compaq UK and Ireland, said, ``Regus is taking some revolutionary steps in developing its business for the future. In outsourcing its IT requirements to Compaq, Regus has ensured the delivery of consistent and quality services to their customers. This agreement also symbolizes a move towards a more complete working partnership with a focus on providing business development projects for Regus and its clients.'' President & CEO of COLT Telecom, Peter Manning, says, ``Our success with Regus reflects COLT's capability as a pan-European total solutions provider for high grade IT outsourcing. The scale and geographical spread of the Regus operation represented a real challenge. I am delighted that by developing a close and flexible relationship, COLT has met Regus' demanding requirements -- on time and on budget.'' Mike Harrison, CEO of Cedar, comments, ``We have been working with Regus strategically for the last two years developing and implementing their enterprise solutions for HR, finance and sales. We are delighted to extend our service to the ongoing management of these core business systems. We are sure that this will be a strong partnership and one that will add value to Regus and its clients. We look forward to working with Regus over the coming years in the development and growth of their business.'' Notes to editors Represented in 180 cities in 50 countries, Regus is the global leader in supplying fully serviced offices. Offering 85,000 workstations in more than 390 prestigious locations, it is also a market leader in providing meeting rooms, conference and training facilities and public access videoconferencing studios.