Switch and Data Announces $157.5 Million Senior Secured Financing

Switch and Data (NASDAQ: SDXC), a leading provider of Internet exchange and colocation services, today announced that the company has obtained $157.5 million in debt financing from a syndicate of banks led by RBC Capital Markets and GE Corporate Lending. Royal Bank of Canada will act as Administrative Agent for the debt financing. The financing fully funds Switch and Data’s previously announced capacity expansion program.

“We believe the completion of this credit facility in today’s environment speaks volumes to the strength of the demand for our services and the critical role our Internet exchanges play in the expanding Internet economy,” said Keith Olsen, CEO and President of Switch and Data.

Mr. Olsen added, “Continued growth in IP traffic is powered by the increasing penetration of broadband Internet access and the development of new online applications. This creates sustained demand for our Internet exchange points from our customers which include many of the largest online content and network services companies. This financing will build the capacity to continue to fuel our business momentum.”

RBC Capital Markets and GE Corporate Lending were the joint lead arrangers and bookrunners and CIT, among others, participated in the Bank syndicate. The terms of this agreement provide Switch and Data with a $120.0 million term loan, a $22.5 million delayed draw term loan, which is funded at the option of Switch and Data no later than March 27, 2009, and a $15.0 million revolving loan. The $120.0 million term loan was funded on March 28, 2008. The proceeds were used to extinguish the remaining $38.2 million of debt existing under Switch and Data’s previous credit facility and the balance of the loans will be used to fund Switch and Data’s expansion plans. In addition to this funding and pursuant to this new credit agreement, Switch and Data has an option to request an incremental term loan up to $50 million before March 27, 2009 on terms to be set at the time of the request.

About Switch and Data

Switch and Data is a premier provider of network-neutral data centers that house, power, and interconnect the Internet. Leading content companies, enterprises, and communications service providers rely on Switch and Data to connect to customers and exchange Internet traffic. Switch and Data has built a reputation for world-class service, delivered across the broadest colocation footprint and richest network of interconnections in North America. Switch and Data operates 34 sites in the U.S. and Canada, provides one of the highest customer satisfaction scores for technical and engineering support in the industry, and is home to PAIX(R) - the world’s first commercial Internet exchange. For more information, please visit www.switchanddata.com

Forward-Looking Statements

Certain statements herein are “forward-looking statements.” Such forward-looking statements are not historical facts but instead reflect Switch and Data’s current expectations or beliefs concerning future events and results of operations, many of which, by their nature, are inherently uncertain and outside of Switch and Data’s control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. In particular, the information regarding the future demand for Switch and Data’s services, Switch and Data’s future revenues, Switch and Data’s expansion plans, and Switch and Data’s plans regarding its intended use of the proceeds from this new debt financing are forward-looking statements. Words such as expects, believes, estimates, anticipates and similar language indicate forward-looking statements. Further information concerning Switch and Data and its business, including factors that potentially could materially affect Switch and Data’s financial results and conditions, as well as its other achievements, are contained in Switch and Data’s filings with the Securities and Exchange Commission. Switch and Data does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events