CHERTSEY, U.K., Feb. 11, 2002 (PRIMEZONE) -- With the growing trend in the global office outsourcing, Regus (Nasdaq:REGS) (LSE:RGU.L) has won its largest-ever single new business deal with the signing of a contract worth 23.9 million pounds with Compaq. The deal is for the provision of long-term serviced accommodation for more than 450 people in the UK.
The deal covers the provision of serviced office space for Compaq employees at Regus centers in Birmingham, Leatherhead and at London Victoria. The new deal is in addition to outsourced accommodation Regus already provides Compaq at Regus centers in the north of England.
"Regus is the perfect flexibility tool for any forward-looking business," commented Rene Schuster, VP and chief executive officer of Compaq UK&I. "By outsourcing our property requirements we gain improved flexibility, while minimizing our financial risk - both crucial elements in the current financial climate. Regus also helped us identify our true total occupancy cost over the life of the contract, which convinced us of the cost-effectiveness of outsourced office space."
Mark Dixon, chief executive of Regus commented, "This deal puts Compaq at the cutting edge of outsourced workspace management and is further evidence that outsourced offices are becoming the accommodation of choice for the world's leading companies. Compaq's key drivers in outsourcing to Regus' were our ability to offer a total solution right across the UK and the fact that we could provide them with a substantial reduction in the total occupancy costs of running their own offices.
"This trend in office outsourcing is set to increase worldwide, as more and more companies examine their cost base and look for more cost-effective solutions to their office accommodation requirements. We now have a large portfolio of global clients, including Microsoft, Fujitsu-Siemens and France Telecom, which recognize the common sense solutions that we provide. They also appreciate the savings up to 78%** savings on total occupancy cost which we can offer them compared with a traditional long term lease."
** Source CIPS Cost benefits of serviced offices report
Note to Editors
About Compaq:
Founded in 1982, Compaq Computer Corporation is a leading global provider of enterprise technology and solutions. Compaq designs, develops, manufactures and markets hardware, software, solutions and services, including industry-leading enterprise storage and computing solutions, fault-tolerant business-critical solutions, communication products, and desktop and portable personal computers that are sold in more than 200 countries. Information on Compaq and its products and services is available at www.compaq.com.
Compaq and the Compaq logo are trademarks of Compaq Information Technologies Group, L.P. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies. This document contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the Hewlett-Packard/Compaq merger does not close or that the companies may be required to modify aspects of the transaction to achieve regulatory approval or that prior to the closing of the proposed merger, the businesses of the companies suffer due to uncertainty; the market for the sale of certain products and services may not develop as expected; that development of these products and services may not proceed as planned; that Compaq and Hewlett-Packard are unable to transition customers, successfully execute their integration strategies, or achieve planned synergies; other risks that are described from time to time in Compaq and Hewlett-Packard's Securities and Exchange Commission reports (including but not limited to Compaq's annual report on Form 10-K for the year ended December 31, 2000, HP's annual report on Form 10-K for the year ended October 31, 2000, and subsequently filed reports). If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Compaq's results could differ materially from Compaq's expectations in these statements. Compaq assumes no obligation and does not intend to update these forward-looking statements.
About Regus:
Represented in 50 countries, Regus is the global leader in supplying fully serviced office workspaces. Offering more than 90,000 workspaces in more than 410 prestigious locations, it is also the market leader in providing meeting rooms, conference and training facilities and pubic access videoconferencing studios.