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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: StockMan who wrote (14230)	5/22/1998 8:40:00 AM
From: Zoltan!	Read Replies (1) \| Respond to of 77400

Cisco planning for the future: Friday May 22, 8:00 am Eastern Time Company Press Release Cisco Systems Purchases Land for Potential Expansion SAN JOSE, Calif.--(BUSINESS WIRE)--May 22, 1998--Cisco Systems, Inc. today announced that it has agreed to purchase additional land in the south San Francisco Bay Area that could accommodate nearly 10,000 more employees in future years. The company has signed a definitive agreement to purchase 80 acres at Tasman Drive and Barber Lane in Milpitas, and 150 acres on North First Street, just north of Highway 237, in the North First Street area of San Jose. The land is being purchased to give Cisco the ability to grow in Silicon Valley. The company has no immediate plans for construction. ''Silicon Valley is an excellent source of talent and a good environment for a fast-paced technology company like Cisco,'' said Nancy Bareilles, Cisco's vice president for real estate. ''While our future growth will depend on how well we execute on our strategies, it is important that we have the ability to expand in this area.'' Cisco estimates that the two new sites could hold between 16 and 19 buildings, and about 10,000 employees. Cisco currently employs approximately 8,300 employees in the San Francisco Bay Area, out of a worldwide total of about 13,500. Most facilities are located on 80 acres of land on West Tasman Drive in San Jose, where Cisco has 15 buildings and approximately 6,100 employees. The company recently began occupying new buildings on a 135-acre site at Tasman Drive and Zanker Road in San Jose, where 19 buildings are scheduled to be built between now and the end of 1999, accommodating about 11,000 employees. About Cisco Systems Cisco Systems, Inc. (NASDAQ:CSCO - news) is the worldwide leader in networking for the Internet. News and information are available at cisco.com. biz.yahoo.com Maybe BAY has a future selling real estate.