Combined company to deliver integrated software solutions that redefine management of the workplace

London (28th November, 2006) – Raindrop Information Systems has become the world’s leading provider of Web-based systems for property management, facilities management, asset management and space management after winning the bidding war to acquire CenterStone Software Inc., the US market leader in Web-based facilities management and space management solutions.

The move brings together the two leading property software brands for planning, operating and managing the workplace.

Raindrop’s Manhattan brand has been a leader in Web-deployed property software since

2000 and now provides the most advanced solution for integrated financial, portfolio, project and maintenance management. CenterStone offers the leading Web-deployed space management application and all of its users are Web-based.

According to Gartner Research, Manhattan already has one of the property market’s best data architectures and user interfaces, with particularly strong financial and cost accounting functionality.

Both the Manhattan and CenterStone products will continue to be developed and enhanced to deliver a market-leading combined solution

Steve Vatidis, Group Managing Director of Raindrop Information Systems, said: “Winning the hard-fought contest to acquire CenterStone will play a key role in our strategic objective of developing integrated Web-based property software solutions that redefine management of the workplace.

“We have always believed that Web technology has an important role to play in the deployment of property software. It offers significant client benefits. This acquisition means we will now be able to add further ‘best of breed’ Web-based functionality to Manhattan’s existing strengths in the property investment and property management markets in the UK.”

“By adding CenterStone’s substantial user base and development resources to the facilities management side of Manhattan, our core application development team in London will be able to focus on further enhancing Manhattan’s Web-based financial and property investment functionality. This will help us to consolidate Manhattan’s position as the market leader in property and facilities management in the UK.”

During 2007, Raindrop plans to make a series of announcements about significant Web based product enhancements which will deliver additional benefits for Manhattan users.

About Raindrop Information Systems
Raindrop Information Systems is the world's largest privately-owned company dedicated to the development, implementation and support of fully-integrated and fully web-enabled global real estate and facilities management systems. With its heavy emphasis on research and development, quality assurance, system testing and customer support, the company has become a leading global provider of targeted software solutions for real estate managers, owners, investors and occupiers. Through its subsidiaries worldwide, the company has built a substantial high-quality user base of multinational organisations - many with multiple locations around the world. These blue-chip clients are leading players in a wide range of sectors - including retail, energy, telecommunications, investment, banking, finance and local and central government.

About Manhattan Software
The Manhattan suite of fully integrated and web-enabled property software comprises 30 modules designed to meet the requirements of large investors, occupiers, asset managers, and corporate and government occupiers.

Manhattan provides a unique business advantage across all sectors of the property industry by delivering fully integrated property management, asset management, facilities management and financial software in a single suite.

The system offers the highest level of advanced functionality, whilst being highly flexible and easy to use. It allows fast retrieval of the information users need, when they need it.

Manhattan can be installed at clients’ sites as part of their IT infrastructure, or through Raindrop’s Application Service Provision (ASP) service (with all property, asset and facilities management functionality available on an ASP basis).

The Manhattan ASP service offers the FlexASP® option which uniquely enables clients to opt for service components that meet their specific requirements.

For further Information:
Ben Gardner
Manhattan Software
+44 (0)20 7269 8500
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