EMC Corporation corrects and replaces previous announcement.

Business Editors

HOPKINTON, Mass. and HERNDON, Va.--(BUSINESS WIRE)--Dec. 9, 1999--

PSINet Builds Global Network on EMC Proven E-Infostructure

Internet Super Carrier To Deploy EMC Enterprise Storage as Foundation

for 21 Global Web Hosting Centers

EMC Corporation, the world's leading provider of enterprise storage systems, software and services, and PSINet, the Internet Super Carrier, today announced a major agreement in which EMC will provide the information storage for PSINet's leading-edge network of Global Web Hosting Centers. In the next three years, PSINet intends to establish centers in major metropolitan areas around the world. The company has invested $15 million since October to deploy EMC Enterprise Storage systems, networks and software at five centers and will equip the remaining centers as they are opened. EMC also announced today that PSINet is among the first companies to be qualified under the new EMC Proven E-Infostructure Program, which enables qualified Internet-focused companies to publicly validate their world-class information infrastructures.

Harold S. "Pete" Wills, president and COO of PSINet, said, "With a commitment to open 21 Web hosting centers across the globe by the end of 2000, PSINet is creating a platform for global e-business in the 21st century. EMC's technology will give us the flexibility and reliability we need to provide the highest-quality information storage services available to our customers."

PSINet currently operates hosting centers in London, New York, Neuchatel (Switzerland), Tokyo, Toronto and Herndon (Virginia). These centers, together with the additional centers the company intends to deploy worldwide, provide corporate Internet access, security, hosting, and electronic commerce solutions to its growing, worldwide customer base.

"PSINet's state-of-the-art global web hosting facilities provide customers a secure and sophisticated network infrastructure and service that few other companies offer," said Michael Mael, vice president, application & web services. "Our agreement with EMC allows us to grow rapidly while ensuring the highest quality data storage in the industry."

At each location, PSINet will centralize, protect and manage all of its customers' information using EMC Enterprise Storage systems, networks and software, including: -0-

-    EMC Symmetrix Enterprise Storage systems

-    EMC Connectrix Enterprise Storage Network (ESN) systems

-    EMC ControlCenter management software

-    EMC TimeFinder and Symmetrix Remote Data Facility (SRDF) business
     continuance software

-    EMC Data Manager (EDM) backup software

-    EMC PowerPath load balancing and path failover software

In addition, EMC announced that PSINet has been accepted as one of the premier members of the EMC Proven E-Infostructure Program. This new Internet infrastructure program, announced in October, defines the highest standards for information availability, scalability and management. EMC Proven provides Internet-based business and service providers with a way to communicate the inherent value of their investments in information infrastructure to customers and investors. EMC Proven members have implemented the necessary enterprise storage resources to operate at peak efficiency, adapt to a constantly changing business climate and easily manage Internet-driven growth.

Mike Ruettgers, EMC's president and CEO, said, "If the Net were a book, its progress to date would barely take readers past the first chapter. With today's agreement, PSINet is positioning itself to write the next chapter by having the foresight to plan for the staggering growth the next few years will bring and ensure constantly available information to its growing customer base. By demonstrating the vision for this level of expansion, PSINet continues its track record of being at the forefront of the Internet evolution. PSINet's decision is further evidence that EMC is leading the way in building the infrastructure for the Internet economy."

About PSINet

Headquartered in Herndon, VA, PSINet is an Internet Super Carrier offering global E-commerce infrastructure and a full suite of retail and wholesale Internet services through wholly owned PSINet subsidiaries. Services are provided on PSINet-owned and operated fiber, satellite, Web hosting and switching facilities providing direct access in more than 800 metropolitan areas in 23 countries on five continents. PSINet information can be obtained by e-mail at [e-mail], by accessing the Web site at www.psinet.com or by calling in the U.S. 800-799-0676.

About EMC

EMC Corporation, a Fortune 500 company based in Hopkinton, Massachusetts, is the world's technology and market leader in the rapidly growing market for intelligent enterprise storage systems, software, networks and services. The company's products store, retrieve, manage, protect and share information from all major computing environments, including UNIX, Windows NT, Linux and mainframe platforms. The company has offices worldwide, trades on the New York Stock Exchange under the symbol EMC, and is a component of the S&P Index. For further information about EMC and its storage solutions, EMC's corporate web site can be accessed at http://www.EMC.com.

EMC and Symmetrix are registered trademarks and EMC Enterprise Storage, Connectrix, TimeFinder, Symmetrix Remote Data Facility (SRDF), EMC Data Manager (EDM) and Power Path are trademarks of EMC Corporation. PSINet is a registered trademark of PSINet. Other trademarks are the property of their respective owners.

This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) component quality and availability; (ii) delays in the development of new technology and the transition to new products; (iii) competitive factors, including but not limited to pricing pressures, in the computer storage market; (iv) the relative and varying rates of product price and component cost declines; (v) economic trends in various geographic markets and fluctuating currency exchange rates; (vi) deterioration or termination of the agreements with certain of the Company's resellers or OEMs; (vii) the uneven pattern of quarterly sales; (viii) risks associated with strategic investments and acquisitions; (ix) Year 2000 issues; and (x) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission.