EPT management enters into long-term partnership with National Water & Power

National Water & Power (NW&P), the multifamily housing industry's largest utility management and resident billing services provider, announced that it has entered into a long-term agreement with EPT Management, a TVO Realty Company affiliate managing multifamily assets in fifteen states and headquartered in El Paso, Texas.

SANTA ANA, Calif., May 10, 2004 -- National Water & Power (NW&P), the multifamily housing industry's largest utility management and resident billing services provider, announced that it has entered into a long-term agreement with EPT Management, a TVO Realty Company affiliate managing multifamily assets in fifteen states and headquartered in El Paso, Texas.

One of the nation's largest and most respected management companies, EPT serves its residents and its investors by providing exceptional service and strong economic performance. Through its new long-term agreement with NW&P, EPT has consolidated its portfolio under one utility services provider.

NW&P will facilitate resident utility billing for EPT communities, plus provide a wide array of utility management services including utility bill processing, vacant recovery programs, data warehousing, and data mining.

"National Water & Power's comprehensive, integrated utility management offering was clearly aligned with our needs," stated Doug Krietling, Director Ancillary Services for EPT. "Additionally, we looked closely at the infrastructures of companies available for our utility services partnership and NW&P best demonstrated their financial viability and their ability to deliver a program that would meet our requirements."

"National Water & Power is committed to delivering a utility cost management program that will enhance the bottom line and help create utility-related efficiencies at every EPT community," stated Doug Thompson, President of NW&P. "EPT is an important partner for NW&P and we are excited about achieving mutual success through this strategic agreement."

About National Water & Power

Headquartered in Santa Ana, Calif., National Water & Power (NW&P) is a subsidiary of NWP Services Corporation and is the largest and most experienced provider of utility and resident billing services to the multifamily housing industry. NW&P is the only company offering a fully integrated, multifaceted and comprehensive utility cost management solution for apartment owners and managers.

NW&P helps multifamily owners and managers recover expense through resident billing services, as well as benefit from professional outsourced utility bill paying and auditing. NW&P programs also help customers drive down utility costs through rate & tariff analysis, identify waste through vacant unit cost management and implement energy and operational efficiencies at apartment communities. Find more information about National Water & Power at www.nwpco.com.

About EPT Management

EPT Management and its affiliate, TVO North America, are one of the nation's largest privately held real estate services companies. EPT is an Accredited Management Organization with the Institute of Real Estate Management and provides property, construction, and asset management services to 62 multifamily apartment communities in 15 states across the country. EPT is headquartered in El Paso, Tx.

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