DocClarity Acquires Rights To "SmartCabinet" Hosted Document Management Solution From Stellent

Leading Real Estate Companies Are Closing Transactions Faster and Eliminating Paper Through Web-Based Access and Sharing of Critical Business Documents

CLEVELAND, OH, June 23, 2005 — DocClarity LLC, a provider of hosted document management solutions, announced today it has acquired the licensing rights to SmartCabinet, a Web-based application that provides paper-intensive real estate companies and corporations with a platform to more effectively share and access business-critical documents. Built as a hosted application upon the Stellent® Universal Content Management™ platform, SmartCabinet leverages the industry's leading content management solution in use by more than 4,000 customers worldwide.

A number of leading real estate companies currently utilize SmartCabinet to efficiently access, share and manage critical business information. These organizations include CBRE, Shorenstein, The Kaempfer Company (Vornado), Beacon Capital Partners, Prentiss Properties, Inland Real Estate, and Health Care Property Investors.

Offering SmartCabinet as a Web-based, hosted application to commercial real estate companies allows DocClarity to deliver the infrastructure, software and support to its clients for a monthly fee based on usage and storage. This model avoids capital expenditures; accelerates implementation; reduces risk and budget; manages expenses; and eliminates concerns over owning, managing, maintaining and upgrading hardware and software. It also delivers a built in disaster recovery model for any organization's mission critical documents and content.

"We are pleased to provide our real estate clients with best-of-breed technology and services," said Tom Frisina, president and CEO of DocClarity. "DocClarity was incorporated to deliver an end-to-end document management solution for the commercial real estate market. This blended offering provides both sophisticated document management capabilities via SmartCabinet and full-service scanning and document load capabilities all from a single entity."

SmartCabinet automates a company's library of documents; providing an integrated scanning module to capture paper documents and enabling easy "point-and-click" user contribution of electronic documents; delivers full-text searching of every scanned or electronic document in the repository; and provides anytime, anywhere shared Web access of content to employees, partners and external third parties enabling businesses to:

Streamline the buying, selling, leasing, financing and management of properties, ensuring revenue is captured and maximized faster and more efficiently.

Decrease costs by eliminating document copying and distribution and enabling external resources electronic access, thus allowing current resources to accomplish more.

Increase service and satisfaction with all parties by providing better, faster, more accurate access to documents for all external business partners including vendors, tenants, attorneys, lenders, brokers, etc.

Full-Text Searching
SmartCabinet uses proprietary "voting" technology to achieve superior accuracy for text recognition. Each document passes through up to five integrated scanning engines that vote on word recognition, resulting in more accurate scans than conventional OCR products and far better ability to search for key terms and clauses in leases and operating documents.

Document "Check In/Check Out"
SmartCabinet extends document check-in/check-out capabilities to any authorized user by enabling quick, secure access to the document repository from any location while providing a complete audit trail. SmartCabinet creates an enterprise-wide standard for how documents are classified, automatically enforcing naming conventions across geographical and company boundaries. Employees, vendors and partners can locate, access and share documents using the same terms and language.

E-mail Notifications
E-mail notifications allow authorized users to view new and existing documents and be automatically notified via email when selected events occur. Notification lists can be created to track when any document is checked in, checked out, modified, deleted, viewed or activated. Notification can also occur when new documents, such as leases and amendments, are scanned or uploaded to SmartCabinet.

Integrated, Full-Service Scanning
File formats can be scanned and uploaded into an electronic repository, automatically converting the document into a fully-searchable PDF format as well as retaining a copy in its original native file format. Scanning is integrated right into the interface, providing a seamless method for entering documents into the system without requiring the purchase and maintenance of desktop software for OCR and PDF conversion.

About SmartCabinet
DocClarity's SmartCabinet provides paper-intensive real estate companies with a customized, Web-based application for more effectively sharing and accessing critical business documents. The solution enables customers to securely scan and store documents where they can be managed, accessed and viewed by employees and partners via the Web helping them increase revenue, reduce costs and improve customer service and partner satisfaction by being more productive with the documents and information they utilize on a daily basis.

About DocClarity
DocClarity LLC is a provider of hosted document management solutions that converts paper and electronic documents into a strategic resource by making them available, accessible and actionable at all times from any location via a Web browser. DocClarity delivers a blended technology and service offering that provides both sophisticated document management capabilities and integrated, full-service scanning and conversion capabilities.