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San Francisco, March 15, 2004
Successful termination of "Executory Real Estate Contract"

Steven R. Gerbsman, Principal of Gerbsman Partners/Technology Recovery Group and Robert R. Tillman, a member of Gerbsman Partners Board of Intellectual Capital, announced today that Gerbsman Partners successfully restructured an executory real estate contract on 74,000 square feet in Oakland, California for an enterprise software company.

The publicly held technology company had a potential contingent liability under this contract of $ 18.3 million. Due to market conditions, the company made a strategic decision to reduce its corporate space allocation. Under the settlement negotiated by Gerbsman Partners, the client reduced its space commitment to 25,000 square feet and consequently reduced its corporate burn rate by more than $2 million/year. This reduction in burn rate is projected to facilitate the return to profitability for this publicly held company.

Gerbsman Partners/Technology Recovery Group focuses on maximizing enterprise, stakeholder and shareholder value for under-performing, under-capitalized and under-valued companies and their Intellectual Property.

In the past 34 months, Gerbsman Partners has restructured/terminated over $ 540 million of real estate executory contracts and equipment lease/sub-debt obligations and has also maximized stakeholder value for 19 technology and life science companies and their Intellectual Property.

Gerbsman Partners/Technology Recovery Group has offices and strategic alliances in North America, Europe and Israel.

Gerbsman Partners
211 Laurel Grove Avenue, Kentfield, CA 94904
Phone: +1.415.456.0628, Fax: +1.415.459.2278
Email: info@GerbsmanPartners.com
Web: www.gerbsmanpartners.com
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