Savvis Announces Intention to Enter Into $625 Million in Senior Secured Credit Facilities

ST. LOUIS, July 9, 2010 – Savvis, Inc. (NASDAQ: SVVS), a global leader in cloud infrastructure and hosted IT solutions for enterprises, today announced that it intends to enter into new senior secured credit facilities providing for borrowings of up to $625 million. These facilities will consist of a $550 million term loan, maturing in 2016, and a $75 million revolving credit facility, maturing in 2014.

The net proceeds of the senior secured credit facilities will be used, together with cash on hand, to repay existing indebtedness. This will include funding the repurchase of approximately $345 million in aggregate principal amount of the company’s outstanding 3% Convertible Senior Notes due May 2012, pursuant to the terms of the tender offer commenced on July 1, 2010. It will also include the repayment of outstanding amounts under the company’s existing $150 million revolving credit facility and other bank and vendor financing, as well as any related fees and expenses. Any net proceeds of the senior secured credit facilities not used to repay existing indebtedness will be used for general corporate purposes.  

BofA Merrill Lynch and Morgan Stanley Senior Funding, Inc. will act as joint lead arrangers and joint bookrunners in structuring and arranging the senior secured credit facilities. Credit Suisse Securities (USA) LLC and SunTrust Robinson Humphrey, Incorporated, will also act as arrangers and joint bookrunners.

This release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the 3% Convertible Senior Notes due May 2012. The tender offer described above is only being made pursuant to Savvis’ Offer to Purchase and the related Letter of Transmittal, which are being sent to holders of notes and filed on Schedule TO with the U.S. Securities and Exchange Commission. The tender offer is not being made to holders of notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

About Savvis
Savvis, Inc. (NASDAQ: SVVS) is a global leader in cloud infrastructure and hosted IT solutions for enterprises. More than 2,500 unique clients, including 30 of the top 100 companies in the Fortune 500, use Savvis to reduce capital expense, improve service levels and harness the latest advances in cloud computing. For more information, please visit savvis.net.  

Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from Savvis’ expectations. Certain factors that could adversely affect actual results are set forth as risk factors described in Savvis’ SEC reports and filings, including its annual report on Form 10-K for the year ended December 31, 2009, and subsequent filings. Those risk factors include, but are not limited to, uncertainties in economic conditions, including conditions that could pressure enterprise IT spending; introduction of, demand for and market acceptance of Savvis’ products and services; whether or not Savvis is able to sign additional outsourcing deals; variability in pricing for those products and services; merger and acquisition activity by Savvis clients or other client activity that affects the level of business done with Savvis; rapid evolution of technology; changes in the operating environment; and changes or proposed changes in, or introduction of new, regulatory schemes or environments that impact Savvis and/or its clients’ businesses. The forward-looking statements contained in this document speak only as of the date of publication, July 9, 2010. Subsequent events and developments may cause the company’s forward-looking statements to change, and the company will not undertake efforts to revise those forward-looking statements to reflect events after this date.