Press Releases

OpsTechnology Announces Klingbeil as Newest Customer of OpsBuyer

San Francisco, California - June 14, 2005 - OpsTechnology (www.opstechnology.com), a developer of on-demand Web-based systems that enable real-estate operating companies to decrease costs and increase NOI, today announced that Klingbeil Capital Management (www.kcmapts.com), is now using its on-demand OpsBuyer suite to manage purchasing and payables operations at more than 30 multifamily properties in six states. Since 1994, the KCM management team has acquired 64 apartment communities, consisting of 15,962 units.

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 expenses across the portfolio by providing on-demand purchase-order and budget-control systems. Customers of this on-demand solution include national and local Real Estate Investment Trusts, building owners, fee-management companies and property management companies.

According to Kevin McCabe, Chief Operating Officer at Klingbeil, “To succeed in the multifamily industry, we must constantly strive to look for efficiencies in the various processes that take place on site and in the back office. OpsTechnology will save our site level employees time in managing payables, and will allow us to leverage our portfolio’s size in purchasing decisions.”

Sukhi Singh, Co-Founder and Chief Operating Officer of OpsTechnology, said, “From day one, our aim has been to help operators of multifamily companies improve the efficiency and profitability of their operations. Klingbeil has been a leader in the industry for many years, and we are pleased that they have recognized the value of our on-demand system to manage their purchasing and payables functions.”

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 Klingbeil
Klingbeil Capital Management (KCM) is a privately owned real estate investment, property management, and asset management company whose success can be charted back to the late 50s. Over the course of its history, KCM has brought together numerous strategic partners and solid funding sources that have enabled strong asset growth and return on investment. From its beginnings, as a multi-family community developer, KCM has grown by not only providing real estate investment for its own and venture partners’ account, but also acting as a fiduciary, providing asset management and property management to the real estate investment industry.

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