Summary of RACKSPACE HOSTING, INC.

Item 1.01. Entry into a Material Definitive Agreement

On February 5, 2009, Rackspace US, Inc., a subsidiary of Rackspace Hosting, Inc. ("Rackspace"), and Grizzly Ventures LLC, a subsidiary of DuPont Fabros Technology, Inc. entered into an agreement to lease 11,000 square feet of raised floor space in a data center facility located in Ashburn, Virginia (the "Lease"). The leased space will be provided with a maximum critical load power of 2.275 megawatts. The Lease provides for a commencement date at the earlier of one hundred eighty (180) days after the date of the Lease and the date on which Rackspace begins to conduct business at the site. The Lease has a term of 15 years from the commencement date and a total estimated financial obligation of approximately $75 to $80 million over the 15 year term, inclusive of base lease payments, power costs and Rackspace's pro-rata share of operating expenses. Rackspace has a one-time option to terminate the Lease after 10 years upon 12 months' prior notice and, upon the expiration of the 15 year term, Rackspace has the option to renew the Lease for two successive five year periods. Upon renewal of the Lease, the rent can be reviewed and adjusted to market level, as set out in the Lease.

In connection with the Lease, Rackspace Hosting, Inc. has guaranteed the performance of the Lease obligations of the tenant, Rackspace US, Inc.

On February 11, 2009, Rackspace Hosting, Inc. issued a press release announcing its entry into the Lease. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.
99.1 Press Release of Rackspace Hosting, Inc., dated February 11, 2009, announcing its entry into a data center lease with a subsidiary of Dupont Fabros Technology, Inc.