ABRAXAS CAPITAL MANAGEMENT LTD AIMS FOR FSA COMPLIANCE WITH MANAGED BACKUP Cost And Convenience Are Compelling Factors For SME

Guildford, UK, May 12th 2004: DataFort, the leading provider of managed off-site data backup, today announced that Abraxas Capital Management Ltd has implemented its off-site backup service to secure its financial data. With recent FSA guidelines enforcing companies to store data off-site for up to three years, DataFort's service will help Abraxas Capital Management Ltd achieve compliance.

The company recently moved from a serviced office, where backups formed a part of the service package, to new premises within Guildford, Surrey. With a limited number of employees running a hedge fund, Abraxas wanted a completely managed backup service so that it could concentrate on the business without having to worry about overseeing the backup process.

Luca Celati, Director of Abraxas Capital Management Ltd explains: "We are a company with limited technical expertise and few resources, so we were looking for a hassle-free and affordable route to conduct our daily backup. We also needed to consider FSA guidelines, but we weren't prepared to pay the costs normally associated with off-site storage."

Following advice from consultants Computers In The City, DataFort was selected as it provided an off-site, managed system that was based on a utility pricing model, which meant that the company could backup one gigabyte of compressed data every month very cost effectively.

Celati comments, "Everything from our financial reports to our PST files in Outlook are backed up every day and we don't even have to lift a finger. It is automatically configured and remotely managed. We can easily access and retrieve any files that have been deleted by mistake. The combination of cost and convenience is very compelling to a small organisation like ourselves and the service runs like clockwork."


"Small businesses such as Abraxas Capital Management benefit from a service such as ours," comments Gavin Smith, CEO of DataFort. "All they really need is a an Internet connection and we can remotely manage and support their entire backup. This removes the administrative burden and training costs associated with manual backup, whilst making the process much more secure."

Further information on DataFort - including interviews, reviews, users stories and site visits - is available from:
Ian Peel or Natalie Johnson
Datafort press office at MCC International ltd
Tel: 01962 888 100 or Fax: 01962 888125

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