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Rackspace Named One of Texas`s Fastest Growing Technology Companies

Rackspace Managed Hosting has been named to Deloitte`s prestigious Technology Fast 50 Program for Texas, a ranking of the 50 fastest growing technology companies in the area by Deloitte &, Touche USA LLP, one of the nation`s leading professional services firms. Rankings are based on the percentage of growth in fiscal year revenues over five years, from 19992003.

Rackspace`s increase in revenues of 3,581 percent from 1999 to 2003 resulted in a number five ranking in the Fast 50 for Texas. The average increase in revenues among companies who made the Fast 50 for this region was 1,124 percent.

"The Deloitte Texas Crescent Technology Fast 50 companies have shown the strength, vision and temerity to succeed despite a very challenging technology environment," said Skip Moore, regional managing partner for the Technology, Media &, Telecommunications Group at Deloitte &, Touche USA LLP. "We applaud the successes of Rackspace and acknowledge their place as one of the very few to accomplish such a fast growth rate over the past five years."

"This award illustrates our leadership in the managed hosting industry and commitment to building a world-class service organization," said Graham Weston, chief executive officer, Rackspace Managed Hosting. "We provide our customers with Fanatical Support and they respond by growing with us and recommending us to their associates."

To qualify for the Technology Fast 50, companies must have had operating revenues of at least $50,000 in 1999 and $1,000,000 in 2003, must be public or private companies headquartered in North America, and be a "technology company" defined as owning proprietary technology that contributes to a significant portion of the company`s operating revenues (using other companies` technology in a unique way does not qualify), and/or devoting a significant proportion of revenues to research and development of technology. Winners of the 19 regional Technology Fast 50 programs in the United States and Canada are automatically entered in the Deloitte Technology Fast 500 program, which ranks North America`s top 500 fastest growing technology companies. For more information on the Fast 50 or Fast 500 programs, visit www.fast500.com.

This year`s Texas Crescent Technology Fast 50 program is presented by Deloitte &, Touche USA LLP, one of the nation`s leading professional services firms, and its Fast 50 sponsors Haynes &, Boone, NASDAQ and Comerica Bank.