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Forest City Ratner Companies Selects AMTdirect


CHARLOTTE, N.C.-- February. 14, 2003—Asset Management Technologies (AMT) today announced that Forest City Ratner Companies (FCRC) has selected AMT to provide lease abstraction and imaging services for their portfolio of 23 owned and managed properties, comprising approximately 200 leases.

Asset Management Technologies, the developer of AMTdirect, who also provides complete implementation services including lease abstraction, lease auditing, scanning and data conversion services, had Forest City completely implemented in less than four weeks.

AMT is conducting the project utilizing its state of the art web based lease administration application, AMTdirect. Forest City will utilize AMTdirect to provide for day-to-day lease administration and document management services.

Forest City Ratner Companies has been leading the revitalization of downtown Brooklyn for nearly 20 years — from its 1986 construction of One Pierrepont Plaza, the first office building built in downtown Brooklyn since the 1960s, to the billion-dollar MetroTech Center — developed over a period of 15 years. These office buildings are now home to major companies such as JPMorgan Chase, Bear Stearns, Goldman Sachs, Internal Revenue Service, Morgan Stanley, New York City Police and Fire Departments, and Empire Blue Cross and Blue Shield.

“After reviewing other applications in the market, it was clear that AMTdirect has the most state of the art lease administration system. It’s seamless integration with all of our electronic documents and proactive critical date monitoring really sets AMTdirect apart, creating a truly paperless environment for us. We don’t have to rely on our users to run reports to get information; AMTdirect actually notifies our users as soon as the information is input into the system for all of their critical events.” said Raj Patel, Forest City’s Chief Technology Officer.


About Asset Management Technologies

AMT is the leading provider of 100% web based technology solutions to the corporate and commercial real estate markets. AMT offers a full range of commercial real estate consulting services including lease abstraction, due diligence, data imaging, data conversion and accounting system conversion services, making it a leader in turn-key lease administration solutions. Companies who have turned to AMT include Lincoln Property Company, Rack Room Shoes, Advantis GVA, HCA Healthcare, Enterprise Rent A Car, Dow Chemical, BB&T, Lowe’s Home Improvement and many others For more information on Asset Management Technologies' software and services, visit our web site at http://www.amtdirect.com. or contact our Sales Department at 704.896.3118 or by e-mail at sales@amtdirect.com.


About Forest City Ratner

Forest City Ratner Companies, an affiliate of Forest City Enterprises, Inc., is one of the largest real estate development companies in the Northeast and has developed 10.6 million square feet of office buildings and entertainment-retail centers, and more than 900 hotel rooms in two urban hotel complexes. Another six million square feet, including residential, office and retail space, is currently in development.


About Forest City Enterprises

Forest City Enterprises, Inc. is a $5.7 billion NYSE-listed real estate company headquartered in Cleveland, Ohio. The Company is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. The Company's portfolio includes interests in retail centers, apartment communities, office buildings and hotels in 22 states and the District of Columbia.

For more information, visit us on the web at www.amtdirect.com, email us sales@amtdirect.com, or call our Sales Team at (888) 551-4268.


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