Captivate Network Lights Up First Internet Screens in Elevators of San Francisco, Los Angeles, Dallas, Houston; Company Also Establishes Advertising Sales offices in Each Market.

Business/Technology Editors

WESTFORD, Mass.--(BUSINESS WIRE)--Aug. 21, 2000

Captivate Network, Inc., the new media company that is bringing the Internet to the elevator, announced today that it has started the second phase of its nationwide expansion with the introduction of its high resolution, flat panel digital screens in several of the nation's landmark office towers including 201 Mission, 550 South Hope, Fountain Place and Post Oak Central located in San Francisco, Los Angeles, Dallas and Houston respectively. Additionally, Captivate has established local sales offices to service new and existing advertising clients in these regions. This follows Captivate's announcement in April that it has completed 10-year agreements with 500 office towers nationwide to be the exclusive programming provider in the elevator.

Captivate's elevator network provides breaking news, sports scores, local traffic and weather reports, stock quotes, and other information targeted to the unique needs of business people.

"Captivate is delivering on its promise of rapidly scaling the deployment of its network," said Michael DiFranza, President and Chief Executive Officer of Captivate Network, Inc. "According to independent research, the company has received overwhelming approval of its screens from building managers, advertisers and elevator riders. The company has an aggressive growth plan in place to enable us to meet the demands of these markets and deliver viewers to content providers and advertisers."

Captivate is deploying a network of high-resolution flat panel silent screens that can be seen in the elevators of Class A office towers nationwide. Currently, 50 towers have been installed in New York City, Houston, Dallas, Chicago, Boston, Los Angeles and San Francisco and 450 more are under contract across the country with major real estate partners such as Blackstone Real Estate Advisors, L.P., Boston Properties (NYSE: BXP), Crescent Real Estate Equities Company (NYSE: CEI), Equity Office Properties Trust (NYSE: EOP), Reckson Associates Realty Corp. (NYSE: RA), Jack Resnick & Sons, Inc., Shorenstein Company, L.P., TrizecHahn Office Properties, and Vornado Realty Trust (NYSE: VNO). When the network is fully deployed, Captivate will reach 3-4 million people everyday and will deliver 66 million impressions daily.

"Equity Office was the first office building owner to launch Captivate throughout its national portfolio," said Michael Sheinkop, senior vice president - real estate services, Equity Office. "We have introduced this service to customers in Chicago, San Francisco and Los Angeles and have plans to roll Captivate out in 30 other cities soon. We are committed to offering our customers new and innovative amenities and have received terrific feedback on this service."

"Crescent is focused on taking customer service to an entirely new level," said Howard Lovett, Crescent's vice president of new business and technology services. "We are delighted to be the first real estate company to bring Captivate's screens to Houston and Dallas areas and add another outstanding amenity for our customers' enjoyment."

The editors at Captivate Network's production center select, edit and format content supplied by leading media companies to create each Captivate screen. The company's Intelligent Building Server(TM) pulls the content and advertising addressed to a particular location, and programming is delivered to the smart screens in the elevator via a wireless LAN. Each image is on a Captivate screen for l0 seconds and information is updated every 20 minutes throughout the day. Captivate has developed patented, proprietary hardware and software to edit and deliver content.

As an extension to the elevator screen network, Captivate Network recently launched the Captivate.com (http://www.captivate.com) consumer Web site. The site, which is targeted specifically at business professionals, provides more content on the news stories and advertising consumers have seen in the elevator as well as access to a variety of real-time information services and interactive tools developed for the busy professional.

About Captivate Network

Captivate Network, Inc. (www.captivatenetwork.com), the new media company that is bringing the Internet to the elevator, was founded in October 1997 and is privately held. Dedicated to providing business professionals with quality programming and advertising though its network of class A office towers nationwide, the company has secured over 500 buildings to date. Current venture capital investors include ABS Capital Partners, Advent International, Olympic Venture Partners, Primus Venture Partners, Inc., AEW Capital Management, as well as several of the nation's largest commercial real estate companies. The company is headquartered in Westford, Massachusetts and currently employs 110 people, with plans to expand to 155 by year-end.

About Crescent Real Estate

Crescent Real Estate Equities Company, one of the country's largest real estate investment trusts, owns and manages a diversified portfolio consisting of Class A office properties, upscale business-class hotels and luxury resorts and spas, residential land developments, and temperature-controlled logistics facilities. Crescent's mission is to expand the dimensions of business for its customers and maximize value to its shareholders by distinguishing itself as the undisputed leader in each of its businesses through customer service and asset quality and by executing a disciplined real estate investment and operating strategy that focuses on market leadership, innovative growth opportunities, and outstanding customer, employee and partner alliances.

About Equity Office

Equity Office Properties Trust (NYSE: EOP) is the nation's largest publicly held owner and manager of office properties with a national portfolio of 383 buildings comprising 99.2 million square feet in 24 states and the District of Columbia. Equity Office has an ownership presence in 38 Metropolitan Statistical Areas (MSAs) and in 105 submarkets, enabling it to provide a wide range of office solutions for local, regional and national customers. For more company information, visit the Equity Office website at www.equityoffice.com.