ShortPath

Press Release

January 29, 2001 - NEW WEB-BASED NETWORK OFFERS “USER-FRIENDLY” LANDLORD/TENANT COMMUNICATION SYSTEM - Lever House Is First Building Online

New York, NY, January 29, 2001 - A new web-based network offers an efficient and easy-to-use system of communication between commercial landlords and their tenants. Shortpath, Inc. has developed a building operating system that gives tenants a method for immediately communicating building problems and maintenance requests that can be tracked and recorded in real-time, providing an up-to-the-minute record for building managers and tenants. Shortpath also offers tenants the added benefit and cost efficiencies of one-stop-shopping for supplies and services from local and national vendors that are part of the Shortpath network.

Lever House, the New York City landmark building located at 390 Park Avenue, is the first building to go online with Shortpath. Tenants at Lever House include Prada, American General and Alcoa. Shortpath currently has commitments of over 18 million square feet of commercial property from Manhattan building owners. These buildings include Buchmann Tower at 680 Fifth Avenue, which is the second building to go online, Seagram’s, 11 Broadway, and 17 State Street. The company is in the process of training the tenants of these properties on how to use the system.

Shortpath was founded by Scott Mager, CEO of PBM/CSI, Inc., one of the country’s largest privately-owned commercial cleaning and maintenance companies. According to Mr. Mager, who is CEO/President of Shortpath, the company’s system offers one of the best examples of how Internet technology can be used to manage and solve ’old economy’ business problems. “The concept for Shortpath evolved from our 78 years of experience in providing services to the commercial real estate industry. Our business is based on quick response to customer needs. We realized the technology was available to apply this in a much broader sense. That became the genesis for the Shortpath concept,” said Mr. Mager.

“This system will create tremendous efficiencies for both building managers and their tenants.” said Mr. Mager. “Now, building repair notifications, offices supply purchases, and vendor transactions can be tracked, organized and instantly available to office managers.” Companies in buildings that use Shortpath can communicate more easily with building management, resulting in more efficient and accountable building services.

Since all building service requests are tracked in real time, the network provides an up-to-the-minute status of every order. Shortpath has established relationships with local and national vendors, giving tenants a virtual marketplace of goods and services. Using the system, a tenant will have a comprehensive report of purchases broken down by employee, department, vendor or product - all of which will be tracked on the Shortpath site.

Office managers can use the Shortpath system to order and manage online purchases in over 20 different categories, offering several vendors in each service or product category. These include office supplies, messengers, catering, car service, flowers, gifts, telecommunications, and travel. No additional software is required to use the network. Managers simply need access to the Internet and the entire Shortpath system is available with round-the-clock access. The tenant can create a customized marketplace page of preferred vendors and determine which employees are allowed ordering privileges. Over the next twelve months Shortpath expects to expand its service to commercial property owners nationwide including Philadelphia, Miami, Dallas and San Francisco.

Shortpath, Inc. is a customized, web-based building operating system that brings office managers, building managers, and vendors together in one seamless, user-friendly cyber-community. Shortpath uses proprietary software on its site, www.shortpath.com, to provide building managers and tenants a convenient, efficient and centralized method of managing building maintenance functions, as well as ordering supplies and services from local and national vendors.

For more information, you can contact us at info@shortpath.com.