Press Release

19990331-103.xml

Recognizes Leading Investment Firm's Excellence in Building Business Around Information

Hopkinton,, Wednesday, March 31, 1999 - 

EMC Corporation, the world's leading provider of enterprise storage systems, software and services today announced it has awarded the 1998 Copernicus Award to Scott Abbey, Chief Information Officer of PaineWebber Incorporated. The third annual and first U.S. based Copernicus award, presented at the Information Week "IT and the Extended Value Chain" executive conference in Naples, Florida, was given in recognition of PaineWebber's continued excellence in leveraging enterprise-wide information to improve competitive advantage, corporate performance and customer satisfaction.

"At PaineWebber, our team is acutely aware that continued success rests on our ability to manage and use information better than anyone else," said Abbey. "Through its advanced enterprise storage systems and software, EMC has literally taken us into the next generation in our ability to consolidate, protect and harness our vast quantity of information. Applying this nucleus of knowledge to our business has driven profitable growth and increased client satisfaction."

"Scott is at the top of his profession because he understands not only how to be a custodian of his company's information, but also how to effectively manage information as a capital asset," said Michael C. Ruettgers, EMC's President and CEO. "With EMC Enterprise Storage systems and software, PaineWebber has created an intelligent, agile information infrastructure that will respond quickly to change while providing a single, integrated view of their business."

Paine Webber has consolidated information accessed via UNIX , Windows NT, mainframe and AS/400 systems onto fifteen terabytes of EMC Symmetrix Enterprise Storage systems. By pulling together corporate data into one common storage resource, PaineWebber is poised to further enhance its EMC Enterprise Storage Network later this year through the planned implementation of the new EMC Connectrix Enterprise Storage Network System. Drawing from EMC's unparalleled suite of enterprise storage software, PaineWebber has also accomplished several laudable achievements:

  • Using EMC Symmetrix Remote Data Facility (SRDF) software, PaineWebber established a business continuity site 60 miles away from its primary data center to provide continuous business operation in the event of planned or unplanned downtime.
  • Using EMC TimeFinder software, PaineWebber maintains continuous data availability by non-disruptively creating multiple, independently addressable copies of online production information for use in new application development, Year 2000 testing and data backups.
  • Using EMC PowerPath software, PaineWebber significantly increased information access and improved data availability by automatically distributing data traffic across all available data paths connected to Symmetrix.
  • Using EMC Symmetrix Manager software, PaineWebber achieved greater control over information resources by providing a single point of management for its entire enterprise storage environment.
  • Using EMC InfoMover software, PaineWebber heightened the level of data exchange within its heterogeneous computing enterprise through the smooth transfer of information between mainframe and UNIX systems, without using precious network resources.

The Copernicus Award, named after the Polish astronomer to first claim that the sun was the center of the universe, is given to a corporation in recognition of excellence in leveraging enterprise-wide information to improve competitive advantage, corporate performance, and customer satisfaction. Nominees are selected on various criteria including: operational excellence, outstanding business performance, industry leadership, proven ability to break down the barriers to open enterprise-wide information access, and creative use of enterprise storage. Previous winners include Dr. Ron Sommer, Chief Executive Officer of Deutsche Telekom AG, and Les Dawson, Head of Information Systems for Transco, a part of BG PLC group.

EMC Corporation will make a financial contribution, in the name of PaineWebber, to Mr. Abbey's educational or cultural institution of choice.

Paine Webber Group Inc., together with its subsidiaries, serves the investment and capital needs of a worldwide client base. The firm employs 17,767 people in 303 offices. This news release and more information about Paine Webber Group Inc. can be found on their corporate site on the World Wide Web, www.painewebber.com.

EMC Corporation, a Fortune 500 company based in Hopkinton, Massachusetts, is the world's technology and market leader in the rapidly growing market for intelligent enterprise storage systems, software and services. The company's products store, retrieve, manage, protect and share information from all major computing environments, including UNIX, Windows NT and mainframe platforms. The company has offices worldwide, trades on the New York Stock Exchange under the symbol EMC, and is a component of the S&P 500 Index. For further information about EMC and its storage solutions, EMC's corporate web site can be accessed at http://www.EMC.com.

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