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San Francisco, February 25, 2003
Successful termination of "Executory Real Estate Contract"

Steven R. Gerbsman, Principal of Gerbsman Partners/Technology Recovery Group and Robert Tillman, a member of Gerbsman Partners Board of Intellectual Capital, announced today that Gerbsman Partners successfully terminated the executory real estate contract for a leading supplier of display image processors.

The public technology company executed a contract for 48,000 square feet of space in Northern California. Due to market conditions, the company made a strategic decision to reduce its corporate space allocation. Faced with a potential contingent liability of $ 18 million, the company retained Gerbsman Partners to assist them in the restructuring/termination of the executory real estate contract.

Gerbsman Partners provided:

  • Crisis Management expertise in developing the strategy and action plan for the restructuring/termination of the real estate executory contract;
  • Proven negotiating capability/leadership with landlords;
  • The ability to "Manage the Process" among Board members, Lawyers, senior lenders, landlords, management & advisors;
  • The proven ability to " Drive " toward successful closure for all parties at interest.

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 20 months, Gerbsman Partners has restructured/terminated over $ 350 million of real estate executory contracts and equipment lease/sub-debt obligations.

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
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