And One More for EMC: Conchango

To further expand and enhance its global services expertise and delivery,
EMC Corporation 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."

Mike Altendorf, Conchango’s co-founder and joint managing director, said,
"Conchango has had a tremendous few years, where we have seen the return on
our strategy of helping enterprise clients in our target sectors make the
most of the rapidly evolving technology landscape. By helping our clients to
be successful we’ve grown our business to be one of the leaders in the UK and
the next stage in our strategy is to expand upon this success in new markets.
We are thrilled to become part of EMC which gives us the platform for
expansion throughout Europe and also access to the expertise and wider
resources of the global EMC team. We look forward to this next exciting stage
in our development and the benefits we believe it will bring to our clients,
our employees and our business partners."

Upon close, Conchango will become the foundation of EMC’s expanding
European Microsoft consulting practice within EMC’s Consulting & Solutions
Integration Services (CSIS) organization. Mike Altendorf and Richard Thwaite,
Conchango’s co-founders and joint managing directors will co-lead this
European consulting practice. With more than 12,000 technology experts
globally, EMC’s Global Services Division brings a unique mix of information
infrastructure experience and strategic business focus to give customers a
full range of consulting, design, implementation and support services.

Conchango plc.

EMC Corp.