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ElectricStreets.com to Provide Custom Intranets for Broadband Residential's 455,000 Member Apartments.

Business Editors

LOUISVILLE, KY.--(BUSINESS WIRE)--Jan. 17, 2001

Agreement Makes Electricstreets World's Largest Apartment Portal;

Broadband Powerhouse Gears Up for Service Delivery

ElectricStreets.com, the leading national application service provider of Intranets for residential communities, has been selected by Broadband Residential, Inc. (BBR), as the exclusive Intranet provider for its member companies, representing more than 455,000 apartment units across the US.

With eight leading multi-family real estate property members, BBR is the only multi-dwelling unit (MDU) owner-sponsored broadband company providing high-speed, data broadcast video, and entertainment services to the MDU community. Larry Bouchard, President of ElectricStreets, and Michael Glosserman, Chairman and CEO of BBR, made the announcement of this business relationship.

ElectricStreets' exclusive agreement with BBR provides the company preferred marketing and access rights to the properties owned and managed by its member property-owner group. BBR's current property owner group includes six publicly traded Real Estate Investment Trusts (REITs): AMLI Residential Properties Trust, AvalonBay Communities Inc.; Camden Property Trust; Charles E. Smith Residential Realty Inc.; Equity Residential Properties Trust; and Gables Residential. In addition, BBR includes properties owned by Berkshire Realty Holdings and Whitehall Street Real Estate Funds, an affiliate of Goldman Sachs.

"This agreement effectively makes ElectricStreets the country's largest provider of custom Intranet service to residential properties, with exclusive access to nearly a half million apartments and homes," Mr. Bouchard said. "We are so honored to be BBR's selected provider for this service, and especially to have been chosen after such an extensive review of the marketplace further validates our product as best in class for residential properties.

"Our team is focused on providing a national platform of state-of-the-art broadcast video, entertainment services and high-speed data access solutions to multi-family housing communities, and ElectricStreets will be an integral component of this platform," said Mr. Glosserman. "Our member companies are forward-thinking, and committed to harnessing the power of technology to create a deeper sense of community among their residents and be even more proactive among their residents from a service perspective. The BBR-ElectricStreets agreement will create and deliver value for our members, their residents, shareholders and employees."

ElectricStreets will offer BBR's property owners private Intranet sites, customized for each ownership and property. By logging into these sites - powered through BBR broadband solutions -- residents can transact business with their property manager on a national basis (including paying rent, or sending maintenance requests), connect with neighbors (to join clubs, find a babysitter, set up a golf foursome or just socialize), find dining and entertainment options and shop on-line for local and national goods and services.

"Our simple mission is to provide the world's best residential intranets to the largest audience. And this agreement makes our mission a reality at this point in time and gives us a strong platform to move forward from a leadership position," says Bouchard.

ElectricStreets is the leading national application service provider of customized Intranets to residential communities. Partnering with real estate owners, developers and managers and broadband, telecom and utility providers, ElectricStreets delivers property-centric Intranets to create on-line communities within apartment and professionally managed master-planned communities. For more information about ElectricStreets, visit the company's web site at: www.electricstreets.com

BBR is the only MDU owner-sponsored broadband company providing high-speed, data broadcast video and entertainment services to the MDU community. Founded in 1999, BBR was created to meet the exploding broadband demand in the MDU marketplace. BBR's business strategy and technology solutions reflect the convergence and bundling of data, video and voice services. For more information about BBR, visit the company's web site at: www.bbrez.com
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Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jan 17, 2001
Words:593
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