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CommentsMIAMI, FL., August 3, 2005 - Terremark Worldwide, Inc. (AMEX:TWW) a leading operator of integrated Tier-1 Internet Exchanges and best-in-class network services, announced today it has successfully completed the Statement Auditing Standard No.70 (SAS 70) Type II examination of its flagship facility, the NAP of the Americas and its controls and operating effectiveness. The examination, performed by SAS70 Solutions an independent service auditor registered with the Public Company Accounting Oversight Board (PCAOB), addressed the suitability of Terremark’s NAP of the Americas controls and procedures for the period of January 1, 2005 through July 15, 2005.
The Statement on Auditing Standards (SAS) No.70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). SAS 70 is the authoritative guidance that allows service organizations to disclose their control activities and processes to customers and customers' auditors in a uniform reporting format.
“Terremark is dedicated to delivering best-in-class services to our enterprise and government customers,” said Manuel D. Medina, Chairman and CEO of Terremark Worldwide, Inc. “This exhaustive, independent examination further illustrates our commitment to the quality of service, security and reliability that our customers demand and prefer.”
The SAS 70 Type II audit indicates that Terremark’s NAP of the Americas operational procedures and business practices have been subjected to the highest level of examination. The audit evaluated Terremark’s NAP of the Americas internal control environment, logical security, physical security, environmental security, data communications, and customer privacy practices, finding that the NAP of the Americas meets and exceeds the controls of the review.
“Our operational team deserves a tremendous amount of credit for assuring that Terremark’s operations meet and exceed the rigorous standards and expectations of the SAS 70 examination,” said Marvin Wheeler, Chief Operations Officer of Terremark. “Companies looking to outsource the management of their critical infrastructure can be assured that Terremark’s Internet exchanges continue to be safe, secure and reliable.”
A copy of the SAS 70 Report can be obtained by contacting Sandy Gonzalez-Levy at 305-860-7829 or through e-mail at sgonzalez-levy@terremark.com.
About Terremark Worldwide, Inc.:
Terremark Worldwide, Inc. (AMEX:TWW) operates Internet exchange points from which it provides colocation, interconnection and managed services to the government and commercial sectors. The company’s Internet exchange point facilities, or IXs, are strategically located in Miami, Florida; Santa Clara, California; Madrid, Spain and Sao Paulo, Brazil and allow networks to interconnect and exchange Internet and telecommunications traffic. Terremark’s flagship facility, the NAP of the Americas, in Miami, Florida was designed and built to disaster-resistant standards with maximum security to house mission-critical systems infrastructure. The company’s secure presence in Miami, a key gateway to North American, Latin America and European telecommunications networks, has enabled it to establish customer relationships with U.S. Federal government agencies, including the Department of State and the Department of Defense. Terremark is headquartered at 2601 S. Bayshore Drive, 9th Floor, Miami Florida USA, (305) 856-3200. More information about Terremark Worldwide Inc. can be found at www.terremark.com
Forward Looking Statements
Statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Terremark’s actual results may differ materially from those set forth in the forward-looking statements due to a number of risks, uncertainties and other factors, as discussed in Terremark’s filings with the SEC. These factors include, without limitation, uncertainty in the demand for Terremark’s services or products and Terremark’s ability to manage its growth. Terremark does not assume any obligation to update these forward-looking statements.
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