Yardi Wins HUD Contract for Mainframe Conversion to Browser-based System


SANTA BARBARA, CA, May 22, 2006 — Yardi Systems is pleased to announce the award of a five-year contract for “Business Service Provider of Single-Family Asset Management Housing Programs” by the Department of Housing and Urban Development (HUD). Through this award, Yardi Systems will replace HUD’s existing mainframe system with a Web-based software solution for HUD personnel and contractors to access nationally. This system will enable personnel to access integrated property management data and track appraisals through a centralized database via the Internet.

As the global leader in the design, development and support of integrated asset and property management software for the real estate industry for more than 22 years, Yardi is well poised for the challenge and looks forward to providing HUD with innovative, efficient solutions for their management needs. “As an experienced leader in the industry, Yardi offers creative solutions to maximize efficiencies, improve reporting capabilities, streamline workflow and enhance communications between departments, resulting in a superior operating platform,” says Terri Dowen, Senior Vice President, Yardi. “We are thrilled with the opportunity to offer our expertise to HUD and create a more efficient and accessible system for them,” she adds.

About HUD
HUD is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov. For more information about FHA products, please visit www.fha.gov.

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 worldwide. Our software is client-driven and serves more than 15,000 business, corporations and government agencies, representing more than 5 billion square feet of commercial space and 5 million residential units globally.

Yardi enjoys a customer base that incorporates some of the world’s leading international companies, including Cushman & Wakefield, ProLogis, Colliers Turley Martin Tucker-Clayton, Deloitte, Sachsenfonds and Erinaceous.

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

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