Atlantic in a 4.4 Million Pounds Five-Year Expansion Deal with Regus


CHERTSEY, U.K., Feb. 5, 2002 (PRIMEZONE) -- Regus (Nasdaq:REGS) (LSE:RGU.L):

In a deal worth 4.4million pounds over five years, Atlantic Electric & Gas, has taken 21,000 sq. ft of workspace at the Regus Cardiff Gate business center in South Wales, in the first phase of its strategic growth plans in the region.

Atlantic entered the UK market in 2000 to provide a fresh approach to the supply electricity and gas, and other services, to households and businesses throughout the UK and already has over 50,000 customers. Atlantic has offices in London and Gloucester and its customer registration, billing and contact center in Cardiff.

Jeff Percival, Atlantic's chief executive, commented, "As a fast growing company we need flexibility of workspace and security of occupancy, to allow us to take full advantage of all business opportunities, and that's what Regus provides.

"We have a three-phased expansion plan, which could not be accommodated on a conventional lease, without us paying unnecessary rent on unoccupied space. However, with Regus we have moved 80 employees into a global business center immediately, while enjoying the flexibility to expand to 118 in March and then double this, to take over the whole building, by the end of the year.

"Regus helped us identify our true total occupancy costs over the life of the contract, which convinced us of the cost-effectiveness of outsourced office space. We have signed a five year deal, with a break clause after 2 1/2 years"

Mark Dixon, chief executive of Regus adds, "We have a large portfolio of global clients, including Microsoft, Fujitsu-Siemens and France Telecom, which recognize the common sense solutions that we provide. They also appreciate the savings up to 78%** savings on total occupancy cost which we can offer them compared with a traditional long term lease."

** Source CIPS Cost benefits of serviced offices report

Note to Editors

About Regus:

Regus is the world's leading operator of business centers, with more than 410 centers in 180 cities in 50 countries. Regus business centers provide businesses, both large and small, with access to fully equipped office workspaces on flexible terms. With more than 90,000 office workspaces worldwide, Regus is also market leader in providing meeting rooms, conference and training facilities and public access videoconferencing studios.

About Atlantic:

Atlantic started selling electricity to domestic and business users in the UK in 2000 and gas in 2001. The company, which currently has a customer base of over 50,000 sites, including The National Trust and Manchester Airport, is supported by Sempra, one of the biggest energy traders and suppliers in the US. Its headquarters are in Gloucester and its customer service center is in Cardiff.



            

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