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PricewaterhouseCoopers Forms Alliance with Service Resources, Inc. to Expand Real Estate Process Outsourcing Services.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 18, 2000

PricewaterhouseCoopers, the world's largest professional services organization, today announced a strategic alliance with Service Resources, Inc., a leader in Integrated Facility Management, to expand the real estate process outsourcing services that it provides to business and government institutions primarily in North America.

The agreement reflects the growing demand worldwide by the public and private sectors for outside services providers, such as PricewaterhouseCoopers and Service Resources, Inc., to manage their real estate assets on a highly efficient, cost-effective basis.

Deborah Kops, global real estate process leader for the Business Process Outsourcing group at PricewaterhouseCoopers, said, "We look at real estate as an entire infrastructure, from the perspective of controlling capital investments and operating expenses as an end-to-end process. That's why clients, who often come to us with specific functions in mind, end up wanting us to take over the entire real estate management process. By drawing on Service Resources, Inc.'s implementation capabilities, we can continue to meet the growing demand for fully integrated process solutions that ultimately deliver the best value for clients."

Robert Dickhaus, chief executive officer and president of Service Resources, Inc., said, "This alliance represents an ideal match of skills, industry experience, and approach to real estate portfolio management. The holistic approach is where the market is heading and fully leverages our collective expertise in process management, technology, service delivery and consulting."

Under the terms of the agreement, PricewaterhouseCoopers and Service Resources, Inc. will combine strengths in select areas of focus as part of PricewaterhouseCoopers' real estate process outsourcing service offering. These areas include facilities maintenance for small, medium-sized and large properties. The alliance will also explore the development of an integrated technology platform that, among other benefits, can provide clients with centralized, standardized performance metrics and financial management controls for real estate costs as well as the use of proprietary Internet-based systems to execute various real estate functions such as maintenance, repair and operating (MRO) procurement.

Paul Tarricone, publisher of Facilities Design & Management and The Outsource Report, a leading industry newsletter, said, "Operating and maintaining real estate assets is costly in terms of time and resources. More and more companies and government agencies are discovering the benefits of outsourcing this non-core but essential process to an outside services provider. The PricewaterhouseCoopers- Service Resources, Inc. alliance is a strategic coup that will enable both parties to leverage their strengths in ways that will create competitive advantages in this growing market sector."

Named one of the fastest-growing new businesses in America by Dun & Bradstreet and Entrepreneur magazine, Service Resources, Inc. (www.serviceresourcesinc.com) is a market leader in Integrated Facility Management. The Marietta, Georgia-based firm manages more than $2 billion in facility costs and 194 million square feet in real estate, specializing in small- to medium-sized facilities throughout the U.S. Service Resources, Inc.'s National Operations Center in Greenville, South Carolina, is the largest real estate operations center in the U.S., providing support services to over 31,000 client facilities. The firm also manages 450 locations for Federated Department Stores, which represents the largest single facilities outsourcing agreement to date in North America.

PricewaterhouseCoopers manages more than 150 million square feet in real estate assets for clients around the world. The firm also serves as the Global Back Office(R) for multinational corporations and other large organizations - leveraging the core process expertise of outsourcing professionals in finance/accounting, internal audit, tax compliance, applications process, procurement, human resources and real estate process.

PricewaterhouseCoopers (www.pwcglobal.com) is the world's largest professional services organization. Drawing on the knowledge and skills of more than 150,000 people in 150 countries, we help our clients solve complex business problems and measurably enhance their ability to build value, manage risk and improve performance in an Internet-enabled world.

PricewaterhouseCoopers refers to the U.S. firm of PricewaterhouseCoopers LLP and other member firms of the worldwide PricewaterhouseCoopers organization.

Global Back Office(R) is a registered trademark of PricewaterhouseCoopers.

Note to Editors: The name PricewaterhouseCoopers is one word, with upper case P, upper case C, and all other letters in lower case.
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Publication:Business Wire
Date:May 18, 2000
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