Investments

Siegent Acquires RECHANNEL, Leading Real Estate Website Design Company

Companies combine to create unique and powerful marketing solutions for real estate professionals

Bank Of America Investment BOCA RATON, Fla.--(BUSINESS WIRE)--July 6, 2004-- Boca Raton-based Siegent, Inc., the premier compiler of home and neighborhood information in the U.S., announced today that it has acquired Miami-based RECHANNEL Communications, Inc. (www.rechannel.com). RECHANNEL is a leading provider of website design, hosting, data sharing (IDX and VOW) and leads management systems for the real estate industry.
"The integration of RECHANNEL's technology into our eNeighborhoods suite of products immediately makes us the best-of-breed provider of websites for Realtors", says Stu Siegel, CEO of Siegent. "The acquisition of RECHANNEL is the first of several planned for our company, as we strive to continually expand our services for our customers through both internal development and the addition of other great technologies".

Eagle Exploration Company is primarily engaged in the purchase and development of residential and commercial real estate. In 1992, the Company changed its business focus from oil and gas exploration to real estate development, and in connection with this change, subsequently sold most of its oil and gas interest and investments. However, the Company continues to hold minor interests in oil and gas properties and indirect interests by acquiring equity in other oil and gas companies. The Company is also investigating various potential acquisitions and other business opportunities.

Investment Opportunity The acquisition was funded in part by the recent investment into Siegent by Summit Partners.

Real estate can be a wise investment but beyond purchasing a home of your own, what is the best way to invest in real estate without getting your hands dirty and spending your spare time chasing tenants for rent A REIT or Real Estate Investment Trust may be the perfect investment vehicle. REITs own, and often operate, real estate but are publicly traded like stock. Profit is paid as dividend to stock owners.

Banc Of America Investment The blending of the technologies and employees into a single company will enable Siegent to focus on advancing its online home marketing initiatives for the real estate industry.

Newcastle Investment Corp. is a real estate investment and finance company located in New York City. related assets. The Company is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes.

Banking Investment "We couldn't be happier to join such an incredible organization," says Brian Shapiro, president/CEO of RECHANNEL and newly named eNeighborhoods vice president of business development. "eNeighborhoods has a remarkable reputation for great products, as well as the marketing muscle to really expand our market share."

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Investment Solution Strategic Siegent is the premier compiler of home and neighborhood information in the USA, and currently markets its services through its eNeighborhoods, RECHANNEL and HomeData divisions. Siegent's key investors include Summit Partners (www.summitpartners.com), a leading private equity and venture capital firm.

Public Storage, Inc. is an equity real estate investment trust (REIT) that acquires, develops, owns and operates storage facilities. The Company owns and operates storage space in the United States with direct and indirect equity investments in 1, 403 storage facilities containing approximately 84.5 million square feet of net rentable space at December 31, 2002. Public Storage also has a 44% ownership interest in PS Business Parks, Inc. (PSB), which, as of December 31, 2002, owned and operated commercial properties containing approximately 14.4 million net rentable square feet of space.

Investment Banking Services ENeighborhoods(TM) (www.eneighborhoods.com) is the leading provider of comprehensive, personalized marketing tools which real estate professionals use everyday to present buyers and sellers with the most up-to-date, localized information about property, neighborhoods and schools. In 2001 eNeighborhoods achieved the REALTOR VIP(R) status with endorsement from The National Association of REALTORS(R). The company also has strategic alliances with the top ten real estate chains, including: Cendant, Century 21, Coldwell Banker, ERA, GMAC, Keller Williams, Prudential, Realty Executives, RE/MAX and Weichert, as well as many major independent brokerages. eNeighborhoods is the proud founding sponsor of NAR's Good Neighbor Awards which educates, encourages and rewards outstanding community service by real estate professionals throughout the country.

Bank Investment RECHANNEL Communications (www.rechannel.com) is a leading provider of websites for real estate agents and brokers. RECHANNEL's websites provide real estate professionals with a turnkey solution for capturing Internet buyers and sellers, marketing their services, promoting their listings, and managing their businesses. Through affiliations with over 100 MLS's nationally, RECHANNEL provides clients with access to nearly one million property listings that can be searched directly from client websites. RECHANNEL websites has won numerous awards including "Top-10 Site", National Association of REALTORS(R) and "#1 Site", Florida Association of REALTORS(R).

Alternative Investment HomeData (http://www.homedata.com) is the leading compiler and vendor of new homeowner and new mover data to the direct marketing industry. Since 1981, HomeData has been compiling data on residential real estate transactions, building a database of nearly 50 million historical transactions, including buyer name, property address, transaction date, sale price, phone number, mortgage company, mortgage type and mortgage amount. The HomeData New Homeowner Hotline file includes approximately 100,000 home sale transactions each week. The HomeData Premier Connects file is the largest, most timely aggregated national compilation of new movers and new businesses sourced through new phone connections from nearly every phone company.

Online Investment Services Contacts

Accompany Essential Investment
For Siegent, Inc.
Laurie Edwards, 609-208-9090
laurie@laurieedwards.com

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