Equinix Acquires Fourth Data Center in Silicon Valley

	Equinix Acquires Fourth Data Center in Silicon Val

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Equinix Acquires Fourth Data Center in Silicon Valley

Friday June 17, 2005 11:11:27

After opening its third Silicon Valley data center earlier this year, Equinix, Inc. (Nasdaq: EQIX), the leading provider of network-neutral data centers and Internet exchange services, today announced that it has acquired a fourth Silicon Valley center. The move will provide Equinix with additional data center space to respond to strong customer demand in one of Equinix's fastest growing markets. Equinix will discuss this expansion and updated guidance for the quarter ending June 30, 2005 and for the year ending December 31, 2005 on an investor conference call set for Thursday, June 16, 2005, at 8:00 a.m. ET (5:00 a.m. PT).

The new 120,000 square foot Silicon Valley center was acquired through a long-term lease commencing in October 2005. It will add approximately 1,800 cabinets and increase Equinix's Silicon Valley footprint to more than 500,000 square feet. The center will be interconnected to Equinix's three other Silicon Valley centers through redundant dark fiber links managed by Equinix, enabling new customers in each center to have direct access to the more than 50 networks already operating in Equinix's Silicon Valley centers, as if they were in the same location. It will also feature a physical infrastructure that is consistent with Equinix's industry-leading standards for high-performance, security, environmental control and power availability.

The new center was originally built-out in 2001 at an estimated cost of $80 million. Equinix intends to invest approximately $15.0 million of capital expenditures to upgrade the center to Equinix standards, of which $4.0 to $7.0 million is expected to be incurred in 2005. Equinix intends to open the new center for customers in mid-2006.

With more than 200 network service providers, nine of the top ten Web properties (according to Nielsen NetRatings) and hundreds of other companies operating within its IBX centers, Equinix's neutral, network-rich IBX centers are widely recognized as the leading hubs for the exchange of core Internet traffic.

"Our current momentum, expansion opportunities and competitive position are solidifying Equinix's market leadership position," said Peter Van Camp, CEO of Equinix. "We continue to see attractive opportunities to acquire additional centers in our highest growing markets. As we pursue this, the team at Equinix believes it has the opportunity to build an enterprise generating annual revenues of $500 million over time."

"As a result of our second quarter momentum, we are raising guidance for 2005 and increasing our outlook for second quarter EBITDA results," said Ren�e Lanam, CFO of Equinix. "The Silicon Valley expansion is included in this increased guidance, while other possible expansions in 2005 are not expected to negatively impact EBITDA guidance."

Total revenues for 2005 are expected to be in the range of $215.0 to $219.0 million, up from previous expectations of $209.0 to $215.0 million. EBITDA for the year is expected to be between $64.0 and $68.0 million, up from previous expectations of $61.0 to $65.0 million, including $1.0 million of operating costs associated with the Silicon Valley expansion.

Capital expenditures for 2005 are expected to be in a range of $33.0 to $37.0 million, comprised of approximately $17.0 to $18.0 million of ongoing capital expenditures and approximately $16.0 to $19.0 million of expansion capital expenditures. Free cash flow is expected to exceed $30.0 million.

Second quarter revenue guidance is projected to be at the high end of the current range of $51.5 to $52.5 million. EBITDA for the quarter is expected to increase to $15.5 to $16.5 million from previous guidance of $14.0 to $15.0 million. Capital expenditures for the quarter are expected to increase by $1.0 million to $10.0 to $11.0 million.

Equinix will hold a conference call to discuss expansion strategy and increased guidance on Thursday, June 16, 2005, at 8:00 a.m. ET (5:00 a.m. PT). To join the conference call, please dial 1-773-799-3263 and reference the passcode (EQIX). A simultaneous live Webcast of the call will be available over the Internet at www.equinix.com' target='_blank'>www.equinix.com,' target='_blank'>www.equinix.com' target='_blank'>www.equinix.com, under the Investor Relations heading.

A replay of the call will be available beginning on Thursday, June 16, 2005 at 7:00 a.m. PT. by dialing 1-203-369-3212. In addition, the Webcast will be available on the company's Web site at www.equinix.com' target='_blank'>www.equinix.com. No password is required for either method of replay.

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