news RELEASE

Conservice Partners with PropertyBridge to Automate Multifamily Payments

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OAKLAND, CA - August 21, 2007 - PropertyBridge, the leading electronic payment services provider in the multifamily housing industry, today announced that it has entered into a partnership and joint marketing agreement with Conservice, a leading provider of utility management services for apartment managers and owners. The companies will collaborate on an integrated solution that provides property management organizations with resident billing and management services from Conservice, and electronic payment processing by PropertyBridge.

The combined offering will enable property managers to provide residents a single bill that details all monthly charges including rent, utilities and ancillary charges. Residents can then pay electronically using any of PropertyBridge’s six payment types, including credit/debit cards and ACH (debit from a bank account). Payments received by paper check can also be converted to electronic transactions. All payments are integrated with the property management firm’s existing accounting systems.

“The inherent flexibility and convenience of the solution is ideal for property managers and owners seeking to automate their utility billing and payment collection operations,” stated Chris Burford, PropertyBridge Director of Business Development. “This solution fills a gap in multifamily housing. We look forward to working with Conservice to make life easier for both community staff and residents at multifamily communities,” Burford said.

Added Greg Rojcewicz, Vice President of Business Development at Conservice, “We’re confident that this integrated billing and collection service will be embraced by our customers. Property managers are always looking for robust new technologies that allow them to reduce operating costs, improve cash flow, and reduce resident delinquencies, all while providing residents with enhanced customer service and convenience.”

About Conservice

Conservice is one of the largest utility management and billing companies offering a suite of solutions that are designed specifically for the multifamily industry and developed on an industry-friendly platform.  These solutions include the installation of utility sub-meters, billing each resident for their individual utility usage and other monthly charges, as well as a utility management program that fully controls a client’s utility invoice process, from payment of the invoices to rate analysis and procurement.  Conservice focuses on meeting the specific needs of their clients by offering fully integrated solutions that greatly reduce operating costs and promote conservation.

About PropertyBridge, Inc.

PropertyBridge is the leading electronic payments processor for property managers and real estate owners in the multifamily industry. The PropertyBridge Payments Platform™ enables residents to pay rent and other lease-related transactions using multiple payment types, including credit and debit cards, Automated Clearing House (ACH), check scanning (Check 21/ARC), cash payments at Western Union, online bank bill payment, and lockbox services. PropertyBridge’s rent payment solutions are fully integrated with the accounting systems and business processes of property management firms. Residents can pay rent online, by phone or in person and set up recurring payments. The company collaborates extensively with financial services leaders including Visa USA, MasterCard, Discover Financial Services, American Express, Wells Fargo Bank and First National Bank of Omaha.

Contacts

Peter Mansfield
Vice President of Marketing

PropertyBridge, Inc.
pmansfield@propertybridge.com

Greg Rojcewicz
Vice President of Business Development

Conservice Utility Management & Billing
grojcewicz@conservice.com