Enhanced REport ms delivers the impossible dream to retail lease managers with addition of Percentage Rent module.

ATLANTA, September 2004 - Property Works has announced a major achievement in lease management technology. REport ms, its web-based single-point access lease management system, now boasts a "Percentage Rent" module. With the addition of this sophisticated feature, percentage rent terms are calculated automatically per the terms of the lease.

While still offered at an accessible price point, its unique enhanced value delivers solid choices to portfolio managers. The "Percentage Rent" module includes the following user-friendly features:

• keeps track of required report and payment dates
• avoids penalties for failing to timely report sales data
• generates quick statements through uploading of excel spreadsheet sales data
• multiple-units' sales data in one spreadsheet is only uploaded once
• creates individual record of sales
• calculates the percent rent owed on a pro-rata or accumulated basis
• a/p system integration capacity to generate any required percentage rent payments

Eric Love, Project Development Manager, said it best, "It has been said that a percentage rent module cannot be supported by a web-based system – only by expensive client-server packages. We have proved this wrong. REport ms makes managing percentage rent straight forward and cost effective."

Headquartered in Atlanta, Georgia, Property Works is an industry leader in lease management technology for the small to mid-size portfolio arena. With over 3,000 global properties representing more than 20 different national brands, clients include Tommy Bahama, El Pollo Loco and Johnny Rockets. Founded in 1996, Property Works is staffed with a team of real estate industry veterans with real-world lease management expertise.

For more information or a demonstration of the "Percentage Rent" module of REport ms contact:

Karla M. Bushaw
Phone: 678.461.0004 Fax: 678.277.9045
kbushaw@propertyworks.com