Santa Monica, CA and Dallas, TX, September 28, 2004 – Accruent, Inc., the leading provider of enterprise contract management solutions, announced today that it has acquired rights to license and resell Lucernex Technologies software products. Lucernex is a privately held Dallas-based company that provides advanced real estate process and asset management applications for retailers.

This transaction complements Accruent's real estate life cycle management solution and appreciably broadens its cmSuite contract management offering, positioning the company to deliver increased value to customers. The terms of the agreement are confidential.

The deal includes all intellectual property rights to Lucernex ERP, a product which addresses the unique needs of companies with large, rapidly changing real estate portfolios in the retail, restaurant and hospitality sectors. Lucernex ERP is a robust set of tools that covers the entire property development and asset management lifecycle, including specific tools and best practices for market strategy, site identification, site acquisition, design, construction, possession, facility management and it integrates to Accruent's lease administration solutions: cmRealEstate, REM and SLIM ASP.

"We choose to join forces with Accruent because they dominate the market we target and we already have multiple common customers," states Lucernex Technologies Chairman and CEO, Michael Nuzum. "This move is extremely positive for our customers and provides Lucernex with a first class sales, marketing and services channel that we cannot duplicate."

More than 300 companies employ Accruent's cmRealEstate product. Companies such as Blockbuster, RiteAid, Footlocker, Jamba Juice, Dollar General and Linens 'N Things use cmRealEstate to fully automate lease management, conduct percentage rent calculations, CAM reconciliation, and accrual of payments. cmRealEstate is a component of cmSuite, Accruent's flagship product which provides complete contract management solutions for the extended enterprise.

"By combining our proven technologies, track records in the industry and the talent we've been able to attract, we can apply unparalleled insight to help companies with dynamic real estate portfolios transform their businesses to substantially enhance bottom-line performance," states Accruent CEO Mark Friedman. "Lucernex ERP is an ideal complement to Accruent's cmRealEstate product, as it allows users to strategically analyze their portfolios by centralizing all documents, schedules, budgets, issues and history in one place."

"Accruent's proven track record of quickly assimilating people and products will allow this Lucernex transaction to bring rapid benefits to the market," said Erinne Dayna Matte, analyst, AMR Research. "It's clear that the synergies these companies bring together now make Accruent a leading force in the contract life-cycle management arena."

About Accruent:
Founded in 1995, Accruent is the leading provider of contract management solutions for Global 2000 companies. Our solution enables companies to create a single view of all the contractual commitments that exist throughout their organizations. Accruent's contract management solution provides tangible business benefits to companies, including improved visibility, lower costs, reduced risk and exposure and streamlined contract creation. That's why more than 300 leading companies - including Bristol-Meyers Squibb, Chubb, Consolidated Edison, Eaton, Mellon Financial, Pfizer, Rite Aid, Siemens and Viacom - use Accruent solutions to boost profits and generate cash.

About Lucernex:
Founded in 2000 Lucernex Technologies is a specialized software firm that develops web-centric information and process management applications. The Lucernex ERP, the Lucernex Technologies flagship product, is a robust platform including unique process and asset management tools that substantially decrease project costs and assist in early project delivery. As a single platform, Lucernex allows retailers the ability to rapidly identify, select, acquire, design, construct, and ultimately open new locations more efficiently and effectively. Key features include workflow, scheduling, budgeting and document management delivered in a highly collaborative, real time application. Lucernex customers include Circuit City Stores and Chipotle Mexican Grill.