CHERTSEY, U.K., March 20, 2002 (PRIMEZONE) -- Regus (Nasdaq:REGS) (LSE:RGU) and Nokia have signed a global agreement for the transfer of up to one fifth of Nokia's worldwide office locations to Regus business centres within the next 3-5 years. The agreement has a potential value to Regus of 100 million pounds over the length of the 5-year agreement.
The agreement has a potential size of several thousand workspaces. Regus will become the exclusive global provider of serviced office accommodation to Nokia in all operating regions around the world. In addition to workspaces, Regus will also include meeting rooms and support staff services in an all-inclusive deal.
A Nokia spokesperson commented, "This agreement provides us with both improved operational flexibility and increased efficiency, which will result in a substantial cost saving to our business year on year. We partnered with Regus because they are capable of providing a truly global one-stop-shop solution for our serviced offices. Ours is such a dynamic business that we are constantly having to align our real estate portfolio to meet the needs of our internal and external customers and this agreement helps to meet those needs very well indeed."
Mark Dixon, chief executive of Regus commented, "This groundbreaking agreement clearly demonstrates that serviced office solutions are now becoming mainstream for the world's leading companies. Regus is able to create a substantial reduction in the total occupancy costs for Nokia offices while also providing unrivalled global coverage.
"This trend in office outsourcing is increasing on a world-wide scale, as more and more companies examine their cost base and look for more cost-effective solutions to their office accommodation requirements. We now have a large portfolio of global clients that recognise the common sense solutions that we provide. They also appreciate the significant flexibility and savings on total occupancy cost which we can offer them compared with a traditional long term lease."
Note to Editors
About Regus
Represented in 50 countries, Regus is the global leader in supplying fully serviced office workspaces. Offering more than 90,000 workspaces in more than 410 prestigious locations, it is also the market leader in providing meeting rooms, conference and training facilities and pubic access videoconferencing studios.
About Nokia
Nokia is the world leader in mobile communications. Backed by its experience, innovation, user-friendliness and secure solutions, the company has become the leading supplier of mobile phones and a leading supplier of mobile, fixed and IP networks. By adding mobility to the Internet Nokia creates new opportunities for companies and further enriches the daily lives of people. Nokia is a broadly held company with listings on six major exchanges.