Press Releases

OpsTechnology Inks Deal with Waterton Associates

OpsBuyer Software Chosen for Management of Payables and Workflow Processes of Chicago-Based Real Estate Investment Firm

San Francisco, California - April 20, 2004 - OpsTechnology, creator of the largest Web-based supplier network for real estate operating companies, today announced that Waterton Associates, LLC, a $1.3 Billion real estate investment and management company, has chosen its flagship OpsBuyer product. OpsBuyer will seamlessly integrate with Waterton's accounting and asset management software, Yardi Systems.

OpsBuyer enables real estate operating companies to decrease their costs by fully integrating purchasing, cataloging, receiving, invoicing and budgeting through the Internet. Waterton will be using OpsBuyer to streamline its payables and purchasing processes, allowing the company to migrate from paper and phone-based processes to automated and electronic invoicing and ordering. This will eliminate repetitive data entry, dramatically reduce processing times, increase compliance and enhance reporting across the Waterton portfolio.

OpsTechnology was founded in 1999 by real estate and software industry experts to improve efficiencies, reduce costs and save money for real estate operating companies by improving their ability to manage the relationships between property personnel and their suppliers. The company's customers include Real Estate Investment Trusts (REIT), product and service suppliers, fee-management companies and property management companies. OpsTechnology's supplier network includes more than 100 top vendors, including Sherwin Williams, Home Depot Supply and Whirlpool.

Sukhi Singh, Founder and SVP of Business Development at OpsTechnology, said, "Improvements in spending control and process efficiency create real value for our customers' bottom line, and we fully expect that Waterton will see tangible financial benefits as it uses OpsBuyer to manage its vendor relationships. Our ability to integrate with the company's existing Yardi software is key to helping Waterton leverage its current applications to control its costs and improve efficiencies."

Craig Walczyk, CFO of Waterton said, "OpsTechnology's customer driven implementation strategy and software development methodology was key to our decision. After a long review process we found that the Team at OpsTechnology knew our business and worked with our suppliers to ensure a positive ROI. Our enhanced reporting and purchasing information, and decreases in processing time, will provide our organization with the timely and accurate information needed to optimize our portfolio's spending as we continue to grow."

About OpsTechnology
OpsTechnology develops software that saves money for real estate operating companies by improving their ability to manage and standardize Procurement, Purchasing and Payables functions. Founded in 1999 by real estate and technology industry experts, the company is backed by real estate operating companies and VC firms including SAP Ventures, Vortex Partners, Cohen & Steers, Equity Residential, and Camden Property Trust.
For more information, visit www.opstechnology.com

About Waterton Associates
Founded in 1995, Waterton has completed over $1.3 billion in real estate investments through equity joint ventures with major financial institutions, Wall Street investment banks, and pension funds. Headquartered in Chicago, Waterton has regional offices in Fort Lauderdale, Orlando, Dallas, Las Vegas and Seattle. Since inception, Waterton's portfolio has included a total of more than 25,000 apartment units in 78 properties throughout the United States.
Visit www.watertonassociates.com.

Media Contact:
OpsTechnology, Inc.
Sukhi Singh, 415.222.6992
Email: ssingh@opstechnology.com
Web site: www.Opstechnology.com