Corporate Profile

Second only to your people, your information is your organization's most important asset. EMC provides the technologies and tools that can help you release the power of your information. We can help you design, build, and manage flexible, scalable, and secure information infrastructures. And with these infrastructures, you'll be able to intelligently and efficiently store, protect, and manage your information so that it can be made accessible, searchable, shareable, and, ultimately, actionable.

You can also use EMC information infrastructure as the foundation for implementing your information lifecycle management strategies, securing your critical information assets, leveraging your content for competitive advantage, automating your data center operations, reducing power and cooling costs, and more.

In short, with an information infrastructure, you can avoid the potentially serious risks and reduce the significant costs associated with managing information, while fully exploiting its value for business advantage.

We help a range of customers and consumers
EMC works with organizations around the world, in every industry, in the public and private sectors, and of every size, from startups to the Fortune Global 500. Our customers include banks and other financial services firms, manufacturers, healthcare and life sciences organizations, Internet service and telecommunications providers, airlines and transportation companies, educational institutions, and public-sector agencies. EMC also provides technology, products, and services to consumers in more than 100 countries.

Strong leadership record
Our differentiated value comes from our sustained and substantial investment in R&D, our thousands of technical R&D employees around the globe, the industry's broadest portfolio of systems, software, and services, our ability to create total integrated solutions-all designed from top to bottom by us-and our commitment to delivering the best Total Customer Experience in this or any industry.

To strengthen our core business and extend our market to new areas, we have, over the past four years, acquired and integrated more than 40 growth-oriented software and services companies. We operate R&D centers in Belgium, Brazil, the Netherlands, Ireland, China, India, Israel, Russia, Singapore, and the U.S., and manufacturing facilities in the U.S., Ireland, and Brazil. We hold the most stringent quality management certification from the International Organization for Standardization (ISO 9001), and our manufacturing operations hold an MRP II Class A certification.

2008 marked the largest revenue year ($14.9 billion) in EMC's 30-year history and EMC's sixth year in a row of achieving double-digit annual revenue growth. In fact, from 2003 through the end of 2008, EMC's total consolidated revenues have grown at a compounded annual rate of 19 percent.

A global presence
Today, we employ approximately 40,000 people worldwide, more than 40 percent of whom work outside the U.S. We are represented by approximately 400 sales offices and scores of partners in more than 60 countries around the world. We have the world's largest sales and service force focused on information infrastructure, and we work closely with a global network of technology, outsourcing, systems integration, service, and distribution partners.

We are committed to acting in a socially and environmentally responsible manner and to being an attentive and thoughtful neighbor in our local and global communities. We are a publicly traded company, listed on the New York Stock Exchange under the symbol EMC, and are a component of the S&P 500 Index.

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About VMware

VMware (NYSE: VMW) is the global leader in virtualization solutions from the desktop to the datacenter. Customers of all sizes rely on VMware to reduce capital and operating expenses, ensure business continuity, strengthen security and go green. With 2008 revenues of $1.9 billion, more than 130,000 customers and more than 22,000 partners, VMware is one of the fastest-growing public software companies. Headquartered in Palo Alto, California, VMware is majority-owned by EMC Corporation

Products & Solutions

Award-Winning Products. VMware offers a wide range of award-winning virtualization products, from free software for virtualizing desktops and servers to comprehensive enterprise-class platforms for optimizing datacenters and IT infrastructure.

Proven Solutions. VMware's broad and proven suite of virtualization solutions addresses a range of complex challenges facing IT organizations, including:

Server Consolidation & Infrastructure Optimization: VMware technology - including the industry's only complete virtual infrastructure -- helps organizations consolidate servers and increase utilization rates, greatly reduce power and cooling costs, and manage and automate IT processes for maximum availability, performance and scalability.

Business Continuity: With exclusive features such as automated load balancing and live migration of virtual machines, VMware technology enables organizations to increase uptime and reduce the cost and complexity of meeting high availability and disaster recovery objectives.

Virtual Lab Automation: Developers and other IT professionals use VMware solutions to streamline the software development and testing process, reduce server provisioning time, and improve software quality.

Enterprise Desktop Management: Enabling enterprises to better manage and control their desktop systems, VMware helps customers speed deployments, administer systems from a central location, and provide end-users with a satisfying physical-PC experience.

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COMPANY OVERVIEW

Outlook

Demand for our software, services, hardware, and online offerings are correlated with global macroeconomic factors. For the remainder of fiscal year 2009, we expect the economic conditions experienced during the first six months to further deteriorate. Given this, we are focused on executing in the areas we can control by continuing to provide high value products at the lowest total cost of ownership while managing our expenses.

On January 22, 2009, we announced a resource management program which includes a reduction in operating expenses, employee headcount, and capital expenditures. We plan to eliminate up to 5,000 jobs in research and development, marketing, sales, finance, legal, human resources, and IT, including 1,400 jobs this month. The net headcount in these functions is expected to decline by 2,000 to 3,000 over the next 18 months. Merit increases will be eliminated for employees in fiscal year 2010. Operating expenses will be reduced by cutting travel expenditures, reducing spending on vendors and contingent staff, reducing marketing spending, and scaling back capital expenditures. These initiatives will reduce our annual operating expense run rate by approximately $1.5 billion.

These plans are being finalized, and the costs of implementation and employee severance will be included in our third quarter results of operations.