RealPage Press Release

RealPage Acquires Leading Multifamily Wireless Technology Supplier, ChannelTECH

CARROLLTON, TEXAS, November 3, 2000 - RealPage, Inc., a leading provider of products and services to the multifamily real estate industry, today announced that it has acquired ChannelTECH, Inc., the leading supplier of mobile computing solutions to the multifamily and construction industries.

ChannelTECH specializes in developing software solutions for the Palm Connected Organizers, Pocket PCs, wireless pagers, and cell phones. Its products for the apartment housing industry include EZ Inspector^™, which provides building, due diligence, and HUD compliance inspections; EZ Tracker^™, which collects inventory data and transactions of supply receipt or use; Service Caddy^™, which integrates with popular work order programs and property management software; Turn Caddy^™, which quickly and easily collects inspection data during move-ins and move-outs; and Punch Caddy^™, which records inspection issues. ChannelTECH products are used by more than half of the top 50 property management companies in the country.

The acquisition combines the web technology initiatives under development at RealPage with ChannelTECH's pioneering success in handheld wireless computing devices for facility management applications. The outcome of this unprecedented union will be the availability of wireless work order and inspection systems, and MRO procurement solutions that will be incorporated into OneSite, RealPage's web-based property management system for the apartment housing industry.

"ChannelTECH's technology will be an integral part of the OneSite Facilities product center," said Steve Winn, chairman of RealPage. "With it, we will be able to offer our customers faster, more complete, and more accurate inspections during the make-ready process. They will also be able to reduce work order paperwork by 20 percent through the electronic capture of time and parts used. And they will be able to track supply levels in inventory, submit orders to suppliers, and reduce the need for maverick purchasing."

Dean Schmidt, founder and president of ChannelTECH, will join RealPage as senior vice president of product management. Schmidt brings more than 30 years of experience in developing property management and accounting software to RealPage. Prior to ChannelTECH, he was founder and president of AMSI, a property management software company.

"Dean is a true innovator who has dedicated the past 30 years to finding newer and better tools for use in property management," said Winn. "His knowledge of the multifamily industry and his technological expertise will only serve to enhance the RealPage management team."

"RealPage is a perfect strategic fit for ChannelTECH," said Schmidt. "We want to continue to enable the mobile and wireless worker with our current products and develop new levels of integration in all aspects of property management. To do so requires integration with web-based systems rather then stand-alone solutions. Of all the software companies out there offering web solutions, RealPage had the right strategy in its OneSite web-based system for offering the industry a complete and integrated system."

OneSite features nine distinct product centers-OneSite Leasing, OneSite Rents, OneSite Facilities, OneSite Compliance, OneSite Property, OneSite Market, OneSite Learning, OneSite Revenue Management, and OneSite Accounting & Budgeting-that are each dedicated to specific business processes. These product centers provide a comprehensive suite of eBusiness, browser-based tools that fully automate important property management functions.

RealPage is a leading provider of products and services to the apartment housing industry with nearly 20,000 apartment communities across the United States using its products. Its software and services handle the entire management process for both affordable and conventional properties, including applicant screening, market intelligence, accounting, budgeting, property management, facilities, marketing, and compliance reporting.

RealPage is headquartered in Carrollton, Texas, a suburb of Dallas. It is the combination of four industry leaders: Rent Roll, Inc., the largest developer of property management software and services; RealPage Communications, Inc., a premier designer of custom web sites to the real estate industry; M/PF Research, Inc., a leading provider of market research to the apartment housing industry; and ChannelTECH, a leading provider of handheld wireless computing devices for facility management applications.