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RAGINGWIRE EXPERIENCES STRONG REVENUE GROWTH

Carrier Hotels Staff Posted Jun 7, 2004

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SACRAMENTO, California (May 26, 2004) – RagingWire Enterprise Solutions, Inc., a leading provider of fully hosted managed services and world-class information technology (IT) infrastructure solutions, today announced that annual revenues for fiscal year 2004 increased by 67 percent. The Sacramento-based IT outsourcing company also reported an annual increase of 105 percent to its client base, which consists primarily of large, data-intensive and Fortune 1000 enterprise companies such as Pacific Coast Companies, Inc., Photronics, Inc. (NASDAQ: PLAB), and Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd. (NYSE: HIT).

“We are encouraged by the strong financial performance and exceptional growth that RagingWire continues to demonstrate in the market place,” said George Macricostas, CEO of RagingWire. “Our unique offering of managed services and quality customer service leaves RagingWire well positioned to experience greater business growth in the future.”

April 2004 marked RagingWire’s third anniversary in operations. Over the past three years, the company has achieved sustainable free-cash-flow and built a solid track record of signing multiyear contracts with large, data-intensive enterprise companies. Additionally, RagingWire has maintained a perfect record of 100 percent uptime. To date, the company has provided more than 1,150 continuous days of uninterrupted infrastructure and IP networking services to its customers. As a result of its continued success, RagingWire has established itself as a preeminent player in the IT outsourcing industry.

“RagingWire has shown tremendous resilience in a tough economic climate,” said Dave Roberson, president and COO of Hitachi Data Systems. “Much of that can be attributed to a dedicated and committed management team that has fully aligned RagingWire’s custom IT solutions to meet the growing demand of enterprise companies.”

About RagingWire

RagingWire Enterprise Solutions, Inc. provides highly custom and flexible managed services and world-class IT infrastructure solutions that accommodate the business needs of large, data-intensive enterprise companies. RagingWire operates a reliable and secure Enterprise Data CenterSM facility that offers “five nines” (99.999%) availability and highly scalable power and cooling in conjunction with managed IT solutions that maintain FORTUNE 1000 companies’ mission-critical, back-office IT systems and applications. RagingWire enables its clients to reduce their operating costs, speed time to market, and focus on their core competencies. For more information about RagingWire, access www.ragingwire.com.