BancBoston Robertson Stephens Reiterates Buy Rating on EXDS; AT&T Announces Plans to Join the Virtual Bricks Race.

1. we expect that AT&T and Exodus will likely work closely with one another to complement each other's core strengths and

2. AT&T's competitors may view Exodus as an attractive acquisition candidate."

"We believe that AT&T's announcement also confirms our April 1999 Virtual Bricks(TM) thesis stating that access-centric companies will move aggressively into higher-margin hosting and hosted-application services," said Juarez.

"We believe that the hosting market, estimated to reach more than $12 billion in 2001, will support multiple players," said Juarez. "Exodus's first-mover advantage and sophisticated Web hosting facilities give it a competitive advantage over new entrants."

"We believe shares of Exodus will likely experience pressure in the wake of this announcement, but view any weakness in the stock as a buying opportunity," said Juarez.

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