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OpsXchange OpsXchange Names New Director and Executive Vice President

OpsXchange Names New Director and Executive Vice President Howard Hoover Brings 25 Years Experience to Team

SAN FRANCISCO - October 17, 2000 - OpsXchange, Inc., the e-procurement enabler for the real estate industry, announced today the addition of Howard Hoover as a director and as the company¹s executive vice president. Hoover provides OpsXchange with expertise garnered from his 25 years in building comprehensive service offerings related to property management and maintenance.

Hoover joins OpsXchange after co-founding American Residential Services/American Mechanical Services (ARS) in 1995. As chairman of ARS, he established the largest publicly held U.S. company providing residential and commercial properties with comprehensive HVAC, plumbing and electrical services. Prior to ARS, Hoover was a director and senior management committee member at Browning-Ferris Industries (BFI), where he served as general counsel, chief legal officer and secretary.

"Howard is a respected, knowledgeable leader in the service industries that he helped build," said Rajiv Naidu, OpsXchange founder, chairman and CEO. "His extensive experience will be instrumental as OpsXchange moves to establish itself as the dominant e-procurement technology provider for the real estate industry, where services are a critical component of property operations."

"OpsXchange has positioned itself as evolutionary in developing a dynamic e-procurement platform that provides a powerful procurement solution for the real estate industry," said Hoover. "We have an opportunity to transform the way buyers and suppliers interact, offering substantial benefits to parties on both sides of the procurement process. It¹s an exciting technology and I¹m thrilled to be part of this talented team."

About OpsXchange
OpsXchange is the only e-procurement enabler built for real estate operators and suppliers. The company licenses its proprietary hosted technology to simplify the procurement of goods and services along the supply chain for real estate management, maintenance and operations.

Founded in 1999 and based in San Francisco, OpsXchange is a privately held, venture-backed company whose investors include SAP Ventures, Cohen & Steers Capital Management, and Vortex Partners. For more information, visit www.opsxchange.com.