BuildPoint Offers the Construction Industry its First Mass Market Subcontractor Performance Management Tool for General Contractors.

Business Editors/High-Tech & Construction Writers

REDWOOD SHORES, Calif.--(BUSINESS WIRE)--May 8, 2002

R.D. Olson Construction Selects

BuildPoint's PRM 2 Solution to Reduce Risk

BuildPoint(R) Corporation, the leader in provider relationship management (PRM) for the construction industry, today announced the launch of SubTrack, its new subcontractor performance management tool. SubTrack, only available as a component of BuildPoint's PRM 2 solution, is the first mass market subcontractor performance management tool of its kind.

BuildPoint's pioneering SubTrack tool enables general contractors to easily monitor the performance of the various subcontractors to whom they award contracts. General contractors rely heavily on their base of subcontractors to deliver profitable and quality projects for their clients. SubTrack helps ensure that general contractors identify subcontractors who have performed well for them on previous projects.

R.D. Olson Construction Selects BuildPoint's PRM 2 Solution

R.D. Olson Construction, an Engineering News-Record top 400 contractor, has selected PRM 2, the improved, second-generation version of BuildPoint's industry-leading subcontractor information and risk management solution. PRM 2 enables general contractors to more efficiently communicate with subcontractors, manage their performance, and distribute relevant information to all stakeholders in real-time by centralizing subcontractor data and standardizing the pre-qualification and performance assessment processes.

"What BuildPoint really offers is a cost-effective risk management solution that will make our company fiercely competitive and highly profitable," said Jackie Buck, executive vice president of finance and administration for R.D. Olson Construction. "The BuildPoint solution will pay for itself five times over when we identify just one bad subcontractor! SubTrack also has a positive impact for our top-performing subcontractors as they'll be identified and selected for more projects. A performance management tool such as SubTrack and an overall enterprise solution such as BuildPoint's PRM 2 were long overdue in the construction industry."

BuildPoint's SubTrack module is the construction industry's first automation tool for the collection and management of subcontractor performance data. SubTrack was designed to help general contractors:

-- Is highly customizable -- the general contractor's field staff can determine
criteria for rating subcontractors (e.g., safety, budget, schedule, paperwork,
quality, etc.);

-- Is streamlined and easy-to-use, enabling quick and easy data entry by field
staff; and,

-- Offers optional alerts to remind field staff to rate and enter performance
data on a consistent basis.

"BuildPoint has already delivered sizeable improvements in efficiency as well as cost savings to the construction industry," said Mike Kaul, president and CEO of BuildPoint. Kaul added, "We've expanded PRM 2 with SubTrack to provide our customers with a truly landmark solution for mitigating risk through better subcontractor performance management."

Collecting Subcontractor Performance Data

The general contractor's staff on a construction site simply enters subcontractor performance data into the PRM 2 system using any computer with an Internet connection. Unlike the disparate and inconsistent paper-based methods to date, BuildPoint's SubTrack offers comprehensive subcontractor performance tracking and assessment that:

-- Is highly customizable -- the general contractor's field staff can determine
criteria for rating subcontractors (e.g., safety, budget, schedule, paperwork,
quality, etc.);

-- Is streamlined and easy-to-use, enabling quick and easy data entry by field
staff; and,

-- Offers optional alerts to remind field staff to rate and enter performance
data on a consistent basis.

Utilizing Subcontractor Performance Data

Once subcontractor performance information is captured, it is instantly available to the general contractor's management and staff who are responsible for managing subcontractor performance, monitoring the subcontractor database, and removing poor performers from future construction project bid lists.

With SubTrack, subcontractor performance data can be tracked over time and archived in the general contractor's PRM 2 database for easy analysis with charts and reports. For the first time, general contractors can be assured that they are sending invitations to bid and awarding contracts to their top performing subcontractors.

The Wall Street Journal Cites BuildPoint as a Survivor

In an article appearing in the April 15, 2002 issue of The Wall Street Journal, Dow Jones reporter Donna Fuscaldo noted that BuildPoint is among the "biggest construction-industry exchanges to survive the shakeout." The article described the trend among surviving construction industry technology providers toward offering more comprehensive and collaborative services, such as BuildPoint's PRM 2 solution.

About R.D. Olson Construction

R.D. Olson Construction was founded in 1979 by Robert Olson. Listed in Engineering News-Record's top 400 U.S. Construction Firms and Orange County's top 10 Commercial Construction Firms, R.D. Olson Construction has become one of the most respected national general contracting and construction management companies in the United States. With annual sales of more than $140 million, the company has built an impressive portfolio of hotel, resort, country club, retail, and restaurant construction projects. The company's client list includes Marriott, Hyatt Hotels, Sheraton, Ritz Carlton, Sears, Irvine Company, Polygon Development, Houston's, Morton's Restaurants, Dave & Buster's, and Disney. Headquartered in Irvine, California, the company has offices in Honolulu and Las Vegas. For more information, visit www.rdolson.com.

About BuildPoint Corporation

BuildPoint is the leader in provider relationship management (PRM) for the construction industry. The company's PRM solution enables general contractors to cut cost, reduce risk, and win more profitable contracts through the creation of a centralized source of subcontractor data and the standardization of the pre-qualification and performance assessment processes. BuildPoint is a private company whose investors include J.P. Morgan Chase Partners, RMC Group, SAP Ventures, NorthStar, Techfund Capital, Thomas Weisel Partners, Vortex Partners, and construction.com, part of McGraw-Hill Construction. The company is headquartered in Redwood Shores, Calif. For more information, visit www.buildpoint.com.

Note to Editors: BuildPoint is a registered mark of BuildPoint Corporation. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.