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Press release from Business Wire

Rackspace and TechStars Team Up to Strengthen Cloud Startup Community in San Antonio

<p class='bwalignc'> <i>Selected Companies Receive Optional Perks Like Rackspace Hosting and Access to Rackspace Executives as Mentors</i> </p>

Wednesday, October 19, 2011

Rackspace and TechStars Team Up to Strengthen Cloud Startup Community in San Antonio11:00 EDT Wednesday, October 19, 2011 SAN ANTONIO (Business Wire) -- Rackspace®, the service leader in cloud computing and a TechStars sponsor, welcomes TechStars Cloud, the first thematic accelerator to focus on cloud technologies to San Antonio. The call for applications for the first round of startups is now open until November 2, 2011. Chosen applicants from around the country will live in San Antonio from January to April 2012 and receive free office space at the Weston Center, where Rackspace got its start. The new startups will bring with them innovation, jobs and startups to Central Texas. "TechStars is one of America's top accelerator programs. We are thrilled to have their newest accelerator focused exclusively on cloud startups right here in San Antonio, the home of Rackspace and the birthplace of Openstack, one of the world's most popular open source cloud projects," said Graham Weston, chairman of Rackspace. Chosen teams receive free office space for the duration of the program, optional perks like Rackspace hosting and access to the TechStars mentor and alumni network, including many Rackspace executives. The Rackspace executives mentoring TechStars Cloud companies include Pat Condon, founder of Rackspace; Pat Matthews, senior vice president of the Rackspace Cloud and founder of Webmail US; Jonathan Bryce, co-Founder of the Rackspace Cloud; John Engates, chief technology officer of Rackspace; Lew Moorman, chief strategy officer and president of the Rackspace Cloud; and Graham Weston, chairman of Rackspace. The TechStars Cloud program is run by Jason Seats, founder of Slicehost, which was acquired by Rackspace. “We are particularly interested in companies building on or extending OpenStack, OpenFlow, OpenCompute, as well as those building security applications, hosting services, datacenter automation, big data tools and dev ops,” said Jason Seats. "We have big expectations for the results we'll see when we connect early stage cloud startups to the best cloud mentors and companies." The collaboration between Rackspace and TechStars to bolster local start-ups is expected to bring a unique sense of community to the San Antonio tech scene and should boost the city's image as a high-tech center. Those interested should visit http://apply.techstars.com by Oct. 21 for priority consideration, with a final application deadline of Nov. 2. About Rackspace Hosting Rackspace Hosting is the service leader in cloud computing, and a founder of OpenStack, an open source cloud operating system. The global company headquartered in San Antonio, TX provides Fanatical Support® to its customers, across a portfolio of IT services, including Managed Hosting and Cloud Computing. Rackspace has been recognized by Bloomberg BusinessWeek as a Top 100 Performing Technology Company and was featured on Fortune's list of 100 Best Companies to Work For. The company was also positioned in the Leaders Quadrant by Gartner Inc. in the “2010 Magic Quadrant for Cloud Infrastructure as a Service and Web Hosting.” For more information, visit www.rackspace.com. Forward-Looking Statements This press release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Rackspace Hosting could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the plans, strategies, and objectives of Rackspace for future operations or growth, the impact of certain programs on Rackspace operations, including the affect of the TechStars program on Rackspace; any statements of expectation or belief regarding future events, and any statements of assumptions underlying any of the items mentioned. Risks, uncertainties and assumptions include the possibility that expected operational success may not materialize because of Rackspace's failure to create a viable vision or its inability to execute on its vision, failure to execute on its operational plans, rapid technological changes that adversely affect the demand for Rackspace products and services, shifts in customer demand, customers' and potential customers' acceptance of Rackspace products and services, and other risks that are described in Rackspace Hosting's Form 10-Q for the quarter ended June 30, 2011, filed with the SEC on August 8, 2011. Except as required by law, Rackspace Hosting assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Rackspace HostingMelissa Smolensky, 512-423-3382melissa.smolensky@rackspace.com