EMC Announces Conchango Offer

LONDON -- To further expand and enhance its global services expertise and delivery, EMC Corporation, the world leader in information infrastructure solutions, today announced an offer to acquire the entire issued and to be issued share capital of UK-based Conchango plc., a growing technology consulting firm specializing in the design, development and delivery of custom applications and digital experiences. The acquisition of Conchango will enhance EMC's ability to provide well-established, proven technology consulting services to customers in the United Kingdom and across Europe, and builds upon the focused investments EMC has been making to expand its information infrastructure consulting services around the world.

EMC has offered 23.1 pence per Conchango share, which values Conchango at approximately pounds sterling 42.0 million, or US$84.0 million. The Conchango board has unanimously recommended the offer to Conchango shareholders. The transaction, which already has the support of Conchango shareholders holding approximately 80% of its issued share capital, is expected to close in April. The acquisition is not expected to have a material impact on EMC revenue or on EPS for 2008.

With headquarters in London, Conchango is one of the largest European IT consultancies with a high degree of focus and experience in Microsoft application consulting services, serving many of the largest companies throughout the United Kingdom. As a Microsoft Gold Certified Partner, and with more than 300 professionals, Conchango's business and technology consulting expertise will broaden EMC's overall service and solution portfolio, enhancing the end-to-end business value of EMC's information infrastructure offering for customers.

Howard Elias, President, EMC Global Services and Resource Management Software Group, said, "The addition of Conchango will mark another key milestone in the evolution of EMC's rapidly growing consulting services organization, significantly expanding our global capabilities to design, build and deliver tightly integrated solutions for our customers' most critical business applications. Conchango and its talented employees have a proven track record of delivering many of the United Kingdom's largest data integration projects using highly scalable tools and methodologies. By combining Conchango with our own well-established Microsoft consultancy practice begun in the U.S., we will be well-positioned to further expand our joint capabilities to more customers and establish a strong foundation for a growing consultancy practice in the UK and throughout Europe."

EMC Corp.