HOCHTIEF Property Management Selects IBM for Advanced Real Estate Management Information System

Five-Year IT Services Contract to Provide Specialized Solution for Client Management in Real Estate Industry

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STUTTGART, GERMANY - 25 Jun 2008: German HOCHTIEF Property Management GmbH has signed a five-year information technology (IT) services contract with IBM (NYSE: IBM). Financial details have not been disclosed.

In terms of the agreement, IBM will implement and manage a real estate solution to support HOCHTIEF. The IBM solution, based on the SAP ERP 2005 RE FX software, is an integrated solution specifically created for property and asset-management. The system will build the basis for existing and future client portfolios. IBM will implement, run and -- together with the client -- develop this solution into an advanced information system for the real estate industry.

"By migrating parts of the portfolio, IBM will help implement a productive system within the first three months. With this consolidation of our system and processes we can save considerable costs," explains Jürgen Berkhan, Chief Executive of HOCHTIEF Property Management.

Additional core elements will be implemented such as property management and accounting features. These include printout management as well as invoice workflow.

"When we implement a system for references, we use an integrated method catalogue called IBM Global Services Method which is based on the long-term experience of our employees," said Christian Hildebrandt, vice president Strategic Outsourcing, IBM Germany. "This kind of outsourcing is very attractive for companies in the real estate industry because it enables quick and thorough execution."

This agreement was signed in April 2008.

About HOCHTIEF Property Management GmbH

HOCHTIEF Property Management is a leading provider of Property Management solutions within Germany. HOCHTIEF offers the full range of modern property management: project development, facility management as well as asset- and property management.

Further information: www.hochtief-propertymanagement.de

About IBM

For more information, visit www.ibm.com/services.

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