Leading Software Developer Supports Real Estate Industry Standards Development Movement


WASHINGTON, D.C., May 30, 2006 — The Open Standards Consortium for Real Estate (OSCRE) announced today that Yardi Systems has joined the organization as an executive member.

Yardi Systems is a global leader in the design, development and support of complete software solutions for asset and property management. Since 1984, Yardi has offered a “suite” of advanced technology options for multinational corporations of all sizes in the residential and commercial real estate markets. Today, there are more than 5 billion square feet of commercial space and 5 million residential units managed using Yardi solutions.

“We recognize the advancement OSCRE will provide to the real estate industry. All industry vendors will benefit from this standardization effort,” said Terri Dowen, Senior Vice President of Sales for Yardi. “As a leading software provider, Yardi would like to help our clients take advantage of technology. Standardization will help companies do this by allowing them to interface with the industry more efficiently and streamline the way they do business.”

Founded in 2002, OSCRE was created to develop interoperable data standards for the real estate industry and to bring together the various Standards Development Organizations (SDO) across the entire industry. The mission of OSCRE is the development, synthesis and adoption of e-business standards that enable the real estate industry to function effectively and efficiently in the new economy.

Executive membership is the highest level of involvement in the standards organization. Executive members participating in the executive committee meet regularly to set out OSCRE’s policy, including the priorities for maintenance and development of standards. Additionally, it instructs the board of directors on the business plan and provides resources to support the organization’s work groups.

“OSCRE is extremely proud to have Yardi as an executive member,” said Andy Fuhrman, CEO of OSCRE. “They are a software company which has relationships with real estate companies around the world, and this allows them to understand the business needs, trends and methodologies of the industry at large. They are excellent at listening to the market and understanding its demands, and translating them into technology solutions for accessing data. That understanding allows them to help OSCRE’s efforts in driving the way data is defined, transferred and stored.”

Yardi Systems joins other prominent executive members of OSCRE, including the U.S. General Services Administration, CB Richard Ellis, CoreNet Global, Appraisal Institute, Cisco, Jones Lang LaSalle, the Data Consortium, Realcomm, Sun, Prudential Financial, REALM Business Solutions, Cushman & Wakefield, iCameron.net, Mattias Bergman and the National Association of Realtors.

About Yardi
Yardi Systems, Inc. is the global leader in the design, development and support of integrated Asset and Property Management software for organizations of all sizes. For more than 22 years, our technology and services have led the industry through responsiveness and innovation, becoming the premier application for real estate software solutions. Our products are client-driven and enhance workflow by integrating property management, financial reporting and a centralized database in one software suite.

Headquartered in Santa Barbara, California, Yardi is a privately held corporation with offices throughout the United States, Canada, Europe and the Asia-Pacific region. More information about Yardi products and services may be found by visiting www.yardi.com .

OSCRE Americas is the organization responsible for the development and adoption of the OSCRE Standards within the United States, Canada and South America. OSCRE America is co-founder of the OSCRE International Consortium that drives the adoption of open e-business standards for the real estate industry.

Open Standards Consortium for Real Estate, Inc., is a 501(c)(6) corporation, incorporated in the District of Columbia, United States of America, whose office is located at 2020 Pennsylvania Ave. NW, Box 1024, Washington, DC. 20006. For more information, visit www.oscre.org.

Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255