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StorageNetworks to Power Pihana Pacific's Storage Management Services in the U.S. and Asia Pacific.

Business Editors

WALTHAM, Mass. & HONOLULU--(BUSINESS WIRE)--June 11, 2001

Pihana To Offer Storage Management Services To Customers In

Los Angeles, Tokyo, Singapore, Hong Kong, Seoul, and Sydney

StorageNetworks, Inc. (NASDAQ: STOR), the world's leading provider of data storage management services, and Pihana Pacific, a world-class business communication enabler, today announced that Pihana will leverage StorageNetworks' STORfusion(SM) services within the U.S. and Asia/Pacific regions. The STORfusion services will enable Pihana to deliver data storage management services to customers co-located at Pihana's data centers in Los Angeles, Tokyo, Singapore, Hong Kong, Seoul and Sydney.

STORfusion will enable Pihana, with one of the largest footprints in Asia/Pacific, to rapidly deploy data storage management services to its customers and quickly enter the growing global $100 billion ($US) data storage market. Pihana will take advantage of StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) software and STORvision(SM) command and control software, as well as 24x7 monitoring capabilities and customer go-live support to deliver fully managed data storage services. Pihana Pacific will market six branded services within three core storage product offerings - Pihana Pacific SAN, NAS and Backup & Restore services.

"This agreement is part of our strategy to provide managed services to our customers and build the next breed of IDCs across the underserved Asia/Pacific region," said Richard Kalbrener, president and CEO of Pihana. "Our customers need relief from the cost and complexities of deploying and managing their storage environments. Delivering data storage as a service is a tremendous value for our customers -- allowing them to focus on their core competencies. STORfusion services are best-of-breed and will give us the ability to create a significant new source of revenue by expanding our portfolio of services."

Pihana's carrier-neutral, Internet exchange data centers are currently open in Los Angeles, Honolulu, Tokyo and Singapore. The company's facilities in Seoul, Hong Kong and Sydney are scheduled to open next month, completing Pihana's seven-market footprint in Asia/Pacific.

"We are thrilled to be working with Pihana to expand our storage management services to the Asia/Pacific region," said Peter Bell, chairman and CEO for StorageNetworks. "Pihana has an extensive footprint of high-quality data centers across Asia and this agreement will allow us to expand our global reach."

About StorageNetworks STORfusion Service

StorageNetworks STORfusion service enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market. The STORfusion service is intended to increase StorageNetworks' market leadership position in the data storage management services market and expand StorageNetworks' market reach into new geographic and vertical markets.

The STORfusion service is an opportunity for telecommunications companies and service providers to create a significant source of incremental revenue by enabling them to offer data storage management services to their customers, manage their storage infrastructure, increase their levels of service, and improve overall customer satisfaction. Moreover, the STORfusion service enables service providers to improve their cost structure by allowing for the integration of multiple vendor technologies within their infrastructure, thus driving down capital expenditures and further improving performance.

About Pihana Pacific

Founded in January 2000, Pihana Pacific is a world-class business communication enabler and the first company to build, brand and manage neutral Internet exchange data centers in Asia/Pacific. Pihana Pacific has raised $236 million in private equity funding since being founded. This includes $190 million in October of 2000 with one of the largest private equity financing rounds in Asian history, with lead investor Goldman Sachs. Pihana's other world class investors consist of Morgan Stanley Dean Witter Private Equity, LoneTree Capital, UBS Capital, GE Capital Telecom, Mori Building Co., Ltd, Hewlett-Packard, PacifiCap Group, Nifco investments and Pihana's founding investor Columbia Capital. Headquartered in Honolulu, Pihana's Asia/Pacific presence includes a regional headquarters and network operations centre in Singapore, a regional executive centre in Hong Kong and sales offices in Tokyo, Seoul, Taipei, Sydney, San Francisco and Los Angeles. Pihana is a Hawaiian word meaning "fullness" and "completion" associated with a gathering. For more information, please visit www.pihana.com.

About StorageNetworks

StorageNetworks, Inc. (NASDAQ: STOR) is the world's leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.

Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain "forward-looking statements" (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks' filings with the Securities and Exchange Commission ("SEC"). StorageNetworks draws the reader's attention to the factors described in its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, "Certain Factors That May Affect Future Operating Results."

StorageNetworks, STORfusion, STORos, Virtual Storage Portal, VSP, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 11, 2001
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