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Press release

Swisscom Eurospot to acquire Core Communications to strengthen its Conference Services

10 April 2006

Swisscom Eurospot will acquire Core Communications Corp, a professional services company specializing in data communications and Internet solutions to the hospitality industry. Core supports over 7'500 events annually in conference centers and business hotels throughout North America, and is recognized as an innovative leader in technology services to the meetings and events industry. Swisscom Eurospot will apply Core's expertise to its portfolio of 2'270 locations in 14 European countries accelerating the development of advanced Internet solutions to hotels, business events and conventions worldwide. The parties agreed not to disclose the terms of the transaction. The deal is still subject to the approval of the competition authorities of Switzerland.

A new company focusing on Conference Services will be created, operating as a subsidiary of Swisscom Eurospot. This enterprise will combine Core's US operations with Swisscom Eurospot's current conference services team. David Giannini, founder and CEO of Core Communications, will become its CEO. The combined resources of both companies create an international services platform able to organize and deliver consistent, reliable Internet services to hotels and convention centers across multiple continents. Moreover, this new entity is uniquely positioned to directly address the growing Internet requirements of the corporate meetings and events industry, wherever it may occur.

Both companies bring strong relationships with major international hotel chains, as well as strategic corporate clientele. These complementary assets allow Swisscom Eurospot to further strengthen its service portfolio and to leverage Core's customer base. Core will benefit from Swisscom Eurospot's experience providing HSIA services to 188'000 hotel guestrooms, from its multi-lingual technical support, and its broad IT knowledge and resources.

The acquisition of Core offers corporate customers and hotel chains a complete services portfolio for the provision of high-speed Internet-based services, through a strong integrated partner.

Core Communications Corporation was founded in 1999, is headquartered in Northern Virginia (USA) and employs 75 people. Core Communications provides Internet and complex networking services to group meetings and corporate events and acts as a technology partner to hospitality and convention facilities in North America.

Swisscom Eurospot is a leading European provider of high-speed Internet-based services to the hospitality industry and partners with 2'270 hotels in Europe. The company provides wired and wireless High Speed Internet Access (HSIA) in hotel rooms, Business Center solutions (Self service PC and printing facilities) for business travelers and leisure guests and Internet solutions for conferences. Swisscom Eurospot holds relationships with major international hotel chains such as Hilton, NH, Intercontinental, Best Western, Holiday Inn and Marriott among others. Swisscom Eurospot is headquartered in Geneva, employs 100 people and is a subsidiary of Swisscom AG, Switzerland's largest telecommunications service provider.


Swisscom AG
Media Relations
3050 Bern