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Infonet chosen to offer global access to the SWIFT network

Contract awarded to Infonet as one of four vendors to provide global access to approximately 7 000 SWIFT member institutions
Business Wire via ITWeb,
El Segundo, California and Brussels, Belgium, 04 Dec 2002

Infonet Services Corporation, a leading provider of global communications services to multinationals, today announced it has been selected as a managed IP network services provider to SWIFT, the industry-owned cooperative that supplies secure messaging services and software to approximately 7 000 financial institutions in nearly 200 countries.

Under terms of the three-year contract, Infonet will offer standardised access to the SWIFT backbone network that underpins SWIFTNet, its new IP-based messaging platform. With a broad global footprint, underscored by local market expertise and excellent customer service, Infonet is advantageously structured, equipped and able to offer SWIFT clients unparalleled data network services support.

SWIFT provides messaging services to banks, brokers/dealers and investment managers, helping customers reduce costs, improve automation and better manage risk. The SWIFT network will carry more than 1.8 billion payment messages between its end-user clients in 2002, with a daily estimated value of $6 trillion. To keep pace with the growth of these mission critical transactions, the next generation SWIFT messaging platform requires an IP-based communications infrastructure.

"As the premier communications backbone for mission critical data exchanges between global financial institutions, SWIFT clients are faced with unique network requirements," said Didier Verstichel, Director of Worldwide Networks, SWIFT. "SWIFT is extremely pleased to be working with Infonet. We look forward to working with them to deliver a secure IP network that is lowest risk, highly resilient and competitively priced."

"Financial institutions have very demanding requirements for security and quality of service and will increasingly be deploying IP networks to deliver secure mission critical applications on a global scale," said Peter Hall, Research Director, Competitive Communications, Ovum.

Infonet will immediately begin consulting with financial institutions to assess current network infrastructures in order to quickly and effectively upgrade these platforms and simultaneously ensure optimal end-user support.

"Infonet is proud to be chosen as one of four global managed data network services providers qualified to offer services to the world`s most critical data network," said Jose A Collazo, Chairman, President and CEO of Infonet Services Corporation. "The reliability, security and throughput requirements of the financial industry are unique, and we at Infonet are proud to be chosen to perform in this demanding role."

Keyword: California Belgium International Europe
Industry Keyword: Banking Internet Networking Software Telecommunications

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SWIFT

SWIFT is the industry-owned cooperative supplying secure messaging services and interface software to 7 000 financial institutions in 198 countries. SWIFT will carry over 1.8 billion messages in 2002. The average daily value of payment messages on SWIFT is estimated to be above $6 trillion. SWIFT provides messaging services to banks, broker/dealers and investment managers, as well as to market infrastructures in payments, treasury, securities and trade. These services help customers reduce costs, improve automation and manage risk. For more information about SWIFT, please refer to www.swift.com.

Infonet

Infonet Services Corporation, known for its quality of service, is a leading provider of managed network communications services for nearly 3 000 multinational enterprises.

Employing a unique consultative approach, Infonet offers integrated solutions optimising the complex relationship between enterprise applications and the global network. Extensive project management capabilities are the foundation for the services and solution offerings (broadband, Internet, intranet, multimedia, remote and local access, provisioning, application and consulting services) positioning Infonet as the ideal single-source partner for multinationals. In particular, Infonet IP VPN solutions offer multinationals a unique combination of Private and Public IP services as well as a full set of Managed Security Services.

Rated "Best in Class" overall in Telemark`s survey of Global Managed Data Network Services, Infonet has also won "Best Customer Care" and "Best Carrier" at the World Communication Awards. Founded in 1970, Infonet owns and operates The World Network, accessible from more than 180 countries, and provides local service support in over 70 countries and territories.

Infonet`s stock is traded on the New York and Frankfurt Stock Exchanges under the symbol IN. Additional information about the company is available at www.infonet.com.

Infonet Services310 335 1144alex_rassey@infonet.com