Barry J. McGowan of Lend Lease Joins eProperty as Advisory Board Head.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--July 12, 2000

eProperty, a developer of technology solutions and on-line applications for real estate, announced today that Barry J. McGowan has joined the firm as Head of its Advisory Board. Mr. McGowan brings his substantial expertise in real estate and a broad industry network to eProperty, and will play a critical role in eProperty's business development efforts.

Mr. McGowan is currently head of Strategic Development globally for Lend Lease Real Estate Investments, Inc., the industry's leading real estate investment manager with over $60 Billion under management. Prior to joining Lend Lease last year, Mr. McGowan was Chief Investment Officer for Cornerstone Properties, a $2.0 Billion REIT based in the U.S. and Germany. Previously, Mr. McGowan spent seven years with The Koll Company managing several divisions and launching various initiatives including a national corporate real estate disposition program led by Gerald Rohm, now President & CEO of eProperty. Mr. McGowan received his undergraduate degree from Brown University and Master's of Business Administration from Harvard University. He is based in New York City.

"We are excited to have Barry lead our advisory board," says Gerald Rohm. "He is well known throughout the real estate industry as forward thinking and quick to identify new trends within the real estate market."

Using the unique communication, collaboration and information management abilities of the Internet, eProperty's proprietary suite of technology tools and services are designed to eliminate inefficiencies in the current real estate process for principals and service providers alike, and to provide a frictionless flow of information in the marketplace. For additional information, please contact Nimesh Shah at [phone] or Gerald Rohm at [phone].

This release may contain forward-looking statements as well as historical information. Statements of goals and strategies and words such as "plan", "believe", " anticipate", "expect", "objectives", "forecast" and "predict", and other similar words are intended to identify forward-looking statements. These forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, involve risks, uncertainties and other factors that may cause the company's actual results performance or financial condition to be materially different from any results, performance or financial condition suggested by the statements in this release.