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Firm cites Digital Island and Exodus acquisitions as key


SANTA CLARA, CA, USA - March 21, 2002 - In its 2002 North American Web Hosting Magic Quadrant, Gartner has positioned Cable & Wireless (NYSE:CWP) and Exodus, its US web hosting business, in the "Leaders" quadrant based on the company's "Ability to Execute" and "Completeness of Vision."

Gartner's Magic Quadrant report, a graphical portrayal of vendor performance in a particular market segment, positions hosting service providers in one of four quadrants: Niche Players, Visionaries, Challengers and Leaders. According to Gartner, leaders are vendors that are performing well today, have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market.

"Cable & Wireless and its Exodus business are pleased to have been recognized by Gartner in the leader quadrant. The combination of Exodus, Digital Island and Cable & Wireless enables us to offer enterprise customers unparalleled network and hosting solutions and the expertise to meet their business needs," said Bill Austin, chief executive officer, Exodus.

Under the brand name of Exodus in the US, Cable & Wireless offers a complete suite of hosting services including managed hosting, collocation, managed security and managed storage services. This suite is being completely integrated with Digital Island's established family of content delivery and streaming technologies.

According to Gartner, a new evaluation criterion added to this year's list is financial stability. "With the investment pool almost dry, it doesn't matter how good a company is if it won't have the funds to finish out the year or to reach eventual profitability," the report states.


About Exodus, a Cable & Wireless Service


Beginning April 1, 2002, all hosting and content delivery services historically offered by Cable & Wireless, Digital Island and Exodus will be managed by one business division and marketed in the U.S. as Exodus, a Cable & Wireless Service and in the rest of the world as Cable & Wireless. Supported by Cable & Wireless' powerful global infrastructure and financial strength, the combined business is uniquely positioned to provide managed hosting and interactive web services for business customers.


About Cable & Wireless

Cable & Wireless is a major global telecommunications business with revenue of over £8 billion (US billion) in the year to 31 March 2001 and customers in 70 countries and consists of two core and complementary divisions: Cable & Wireless Regional and Cable & Wireless Global. Cable & Wireless Regional offers a full range of telecommunications services in 35 countries around the world. Cable & Wireless Global's focus for future growth is on IP (Internet protocol) and data services and solutions for business customers. It has developed advanced IP networks and value-added services in the US, Europe and the Asia-Pacific region in support of this strategy. With its financial strength and the capability of its global IP infrastructure, Cable & Wireless holds a unique position in terms of global coverage and services to business customers.

For more information about Cable & Wireless, go to http://www.cw.com .

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The Magic Quadrant is copyrighted March 2002 by Gartner, Inc. and is reused with permission. Gartner's permission to print or reference its Magic Quadrant should not be deemed to be an endorsement of any company or product depicted in the quadrant. The Magic Quadrant is Gartner's opinion and is an analytical representation of a marketplace at and for a specific time period. It measures vendors against Gartner-defined criteria for a marketplace. The positioning of vendors within a Magic Quadrant is based on the complex interplay of many factors. Gartner does not advise enterprises to select only those firms in the Leaders segment. In some situations, firms in the Visionary, Challenger, or Niche Player segments may be the right match for an enterprise's requirements. Well-informed vendor selection decisions should rely on more than a Magic Quadrant. Gartner research is intended to be one of many information sources including other published information and direct analyst interaction. Gartner expressly disclaims all warranties, express or implied of fitness of this research for a particular purpose.

This news release contains certain forward-looking statements, including, without limitation, statements concerning Cable & Wireless' and Digital Island's operations, economic performance and financial condition. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Actual results could differ materially from the results referred to in the forward-looking statements. These forward-looking statements are based largely on Cable & Wireless' and Digital Island's current expectations and are subject to a number of risks and uncertainties, including, without limitation, changes in external market factors, changes in business or growth strategy or an inability to execute strategy due to changes in such company's industry or the economy generally, the emergence of new or growing competitors, various other competitive factors and other risks and uncertainties indicated from time to time in Cable & Wireless' and Digital Island's filings with the U.S. Securities and Exchange Commission. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this news release will in fact occur. Additionally, neither Cable & Wireless nor Digital Island makes any commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.

Editors Note: A link to the Gartner2002 North American Web Hosting Magic Quadrant will be available by March 25, 2002 on http://www.exodus.net/


Contacts:


Melissa Neumann, Exodus, 408.346.2305, Melissa.Neumann@exodus.net

Brian Davis, U.S. Media; 202.715.0514, bdavis@brodeur.com

Lyndsay Barrett, 44 20 7759 8216, lbarrett@digisle.net

Tara Salgado, UK media and analysts: 020 7315 4184, tara.salgado@cw.com

Nick Wilkins, Brodeur Worldwide (for Cable & Wireless): 01753 448883, nwilkins@uk.brodeur.com
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