GLOBAL SWITCH SIGNS MEMORANDUM OF UNDERSTANDING WITH IBM

27 February 2003 … Global Switch, a subsidiary of Chelsfield plc, today announced that it had signed a Memorandum of Understanding with IBM Nederland N.V (IBM) for a long-term lease and services agreement for computer floor and office space. The space will be used to house IBM’s main data centre in the Netherlands.

It is the intent of IBM to move its data centre from Zoetermeer to Amsterdam and to use the facilities of Global Switch instead of building their own site. IBM and Global Switch expect to sign the final contract during March 2003 and IBM plans to complete the move of its data centre in 2003.

Global Switch chief executive, Andrew Vander Meersch, commented on the announcement: "This transaction reinforces the company’s position as the pre-eminent supplier of technical real estate and demonstrates the importance being attached to the physical environment in which data centres are being housed. Having completed our portfolio build-out in 2002, we are now talking to an increasing number of potential customers, from across the corporate market, about the benefits and cost efficiencies of housing their IT infrastructure within our purpose built data centre environments."

For further information, please contact:
Netherlands
Pol Schevernels
+31 (0)23 541 17 42

United Kingdom
Anthony Danaher / Tony Nokling (Tamesis)
+44 (0)20 7908 3200

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