Philadelphia Stock Exchange Rolls Out Remote Competing Specialist System On SAVVIS Financial Xchange

Business Wire, June 18, 2002

Business Editors/Hi-Tech Writers

HERNDON, Va.--(BUSINESS WIRE)--June 18, 2002

SAVVIS Financial Xchange(SM) Provides Private IP VPN for PHLX Virtual

Trading Floor

SAVVIS Communications (NASDAQ:SVVS), The Network that Powers Wall Street(SM), announced today that the `Philadelphia Stock Exchange (PHLX), a leader in applying technology to trade execution and processing, is delivering its Remote Competing Specialist System (RCSS) using SAVVIS Financial Xchange(SM) services. The PHLX's RCSS enables specialists to remotely make markets in nearly 2,200 listed stocks, Exchange Traded Funds, HOLDRS(R) and other equity products from a location away from the Exchange's trading floor.

"The Philadelphia Stock Exchange is supported by the most reliable and advanced trading technology available today," said William Morgan, the PHLX's chief information officer. "Our Remote Competing Specialist System enables specialists to make markets in pre-approved sites away from the Exchange. We selected SAVVIS Financial Xchange(SM) because it allows us to easily connect to our customers through a reliable and secure network. SAVVIS is the network that powers our Remote Competing Specialist System."

Since its inception in 1790, the PHLX has leveraged technology to respond to the ever-changing needs of the investment community. In its early days, the PHLX was a source of capital for public works projects including the first turnpike in the U.S. and the Erie Canal. Today, PHLX trades nearly 2,200 stocks, over 1,200 equity options, 13 sectors index options and currency options.

The RCSS is a significant extension of the PHLX's business model creating a boundless market center permitting virtually unlimited access to the qualifying firms and specialist applicants. RCSS allows specialists and order flow providers to enhance liquidity from their own offices, away from the central equity trading floor. RCSS, which is linked to the nearly 2,200 securities offered through the Philadelphia Automated Communication and Execution (PACE)(R) order matching system, represents a major shift in the structure of the Exchange by enabling more than one specialist to compete for each security.

"The Philadelphia Stock Exchange has brought together the strengths of both `bricks and clicks' in its Remote Competing Specialist System," said Jack Finlayson, president and chief operating officer of SAVVIS. "The broad connectivity and superior service of SAVVIS Financial Xchange(SM) will allow PHLX's customers to experience the full value of RCSS."

SAVVIS Financial Xchange(SM) network solutions are designed for the most demanding users in the global financial markets. These solutions offer connectivity to over 4,700 financial institutions around the world, enabling companies to roll out applications to their financial customers and partners in a matter of days instead of months.

Financial Xchange(SM) is unique in the industry in that it delivers private IP VPNs in which multiple applications can run over a single local loop and each application is assigned a guaranteed service level. The PHLX depends on SAVVIS Financial Xchange(SM) to connect its customers to the Remote Competing Specialist System over a private IP VPN that delivers the reliability, performance and security of traditional private networks, as well as the scalability and flexibility of the Internet.

"SAVVIS Financial Xchange(SM) offered us fully managed network connectivity that saved us money and technical resources when compared with point-to-point frame relay lines," said Joe Mitchell, vice president of network services at the PHLX. "And Financial Xchange(SM) will allow us to easily roll out new services over the same network in which each application will get the performance and security it requires."

The PHLX Remote Competing Specialist System will be featured at the SAVVIS booth (#2101) during the Securities Industry Association's (SIA) Technology Management Conference and Exhibit on June 19-21 at the Hilton New York in New York City.

About SAVVIS

SAVVIS Communications Corp. (NASDAQ: SVVS) is a global network service provider (NSP) that delivers IP VPNs (virtual private networks), managed hosting and Internet services to medium-sized enterprises and the financial services market. The mid-market, which is underserved by traditional data communications carriers, is the fastest growing segment of the IP VPN market. In the demanding financial services industry, SAVVIS is a leading provider of high-performance networking services.

SAVVIS' Financial Xchange(SM), a private IP VPN service platform, connects more than 4,700 financial institutions to financial applications and data worldwide. Financial Xchange(SM) is also one of the largest carriers of Financial Information eXchange protocol (FIX) traffic in the United States and has partnerships with many FIX application and services providers.

Known as The Network that Powers Wall Street(SM), SAVVIS delivers the reliability, performance and security of traditional private networks, as well as the scalability and flexibility of the Internet, often at a price less than both. As a result, enterprises can connect their offices, partners and remote employees over an affordable private IP network and can also integrate SAVVIS' managed hosting services as well. The editors of Network Magazine named SAVVIS' IP VPNs Product of the Year for 2001. SAVVIS beat out well-known VPN providers such as AT&T (NYSE: T), WorldCom (NASDAQ: WCOM), Sprint (NYSE: FON) and Genuity (NASDAQ: GENU).