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Harbor Flex Adopted for Lease Administration and More

June 30, 2005

CHICAGO, June 30, 2005 -- Lease Harbor LLC, the leading provider of hosted software services that address the needs of corporate real estate departments and their service providers, announced today that its Harbor Flex system is being rapidly adopted by new and existing clients not only for real estate lease administration, but also for uses beyond the real estate realm.

"Harbor Flex remains the best low-cost, out-of-the-box lease administration system," said Sean Black, President of Lease Harbor LLC. "For many companies, Harbor Flex is all that is needed to effectively administer leases and real property. However, the system's added flexibility and power make it adaptable to departments outside of real estate and allow it to be used for tracking varying types of information such as easements, licenses, equipment and cell towers."

Harbor Flex's ability to create secured sections of data within each location allows for seamless integration across departments. Users outside of the real estate department are finding opportunities to take advantage of these secured areas for tracking additional information. For example, a company's human resources department can access a secured area for tracking headcount information for each site. Likewise, a financial institution can allow a separate department to securely track information about each branch's security infrastructure without giving them access to sensitive real estate data. Retailers can broaden their use of the system by allowing the marketing department to track information about each store's marketing materials.

Harbor Flex can also be customized, allowing companies to track agreements that fall outside of traditional real estate administration. For example, telco companies are taking advantage of the system to track cell tower agreements and licenses for broadcast frequencies. Financial institutions are utilizing the system to administer ATM machine locations. Other companies are using the system to track easements, equipment leases and other contracts, in addition to real estate leases and owned properties.

"Our clients benefit greatly from Harbor Flex's advanced features such as Expense Prorations, GAAP Expense tracking, Power Reporting, flexible security and web services," Black said. "But these features aren't limited to just real estate; they can be utilized for any type of portfolio regardless of the type of agreements being tracked in the system."

About Lease Harbor

Lease Harbor LLC is an industry-leading Application Service Provider (ASP) providing state-of-the-art lease administration tools for corporate real estate departments worldwide. By using Lease Harbor LLC's web-based technology, corporate real estate users can easily and cost-effectively administer their lease and real property portfolios from any location via the Internet. Lease Harbor LLC currently serves over 200 companies with portfolio administration software needs, including Time Warner Inc., Kraft Foods, Whirlpool Corporation and service providers such as CB Richard Ellis, Grubb & Ellis Company and Staubach. For more information on Lease Harbor LLC, please visit the company's website at www.leaseharbor.com.

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