Snapwire

ARGUS Software to Market Innovative Appraisal Reporting Program

HOUSTON, TX - February 15, 2008

ARGUS Software has added yet another amazing solution to its portfolio of products with Snapwire's Report Builder, a reporting tool for commercial real estate appraisers and brokers. This recent addition to an already impressive portfolio of software solutions improves ARGUS Software's continued pursuit to automate and empower the commercial real estate lifecycle.

"Software tools such as Report Builder allow appraisers and brokers more time to focus on the true art of the appraisal rather than mechanics of pulling together a report," notes Bruce Kellogg, ARGUS Software's senior vice president of industry relations and the past president of the US Appraisal Institute.

Developed by Austin, TX-based Snapwire, Report Builder grabs data, tables and images from various Microsoft Office applications such as MS Word and MS Excel and intelligently merges the information into either pre-designed or customized commercial real estate reports commonly used by appraisers, brokers and other professionals in the industry.

Appraisers typically write reports using a previously completed appraisal as a template and replace the old data and comparables using Microsoft Word's "find/replace" and "copy/paste" options. This time consuming, manual method lends to human error and increased cost. Report Builder automates this process, increasing productivity, accuracy and efficiency for the appraiser or broker while simultaneously benefiting the lenders via electronic capture and transmittal of critical underwriting data points.

Snapwire Founder and Partner Matthew Veitch believes the Report Builder application evens the playing field between national firms and smaller appraisal shops. "This is a compressing market, and the ability to automate what are currently clerical processes will prove to be a significant competitive advantage for companies providing appraisals services. When you couple this with the emerging data collection and transmission standards and faster turn times by financial institutions, its clear the days and copy and paste are in their twilight."

Snapwire has been working with the Appraisal Institute since their inception to insure their product was built to accommodate the future of the industry. "The consolidation of data analysis providers nationally and international for the real estate industry demands standards for smooth and accurate data exchanges. The Appraisal Institute through the CARS committee is the lead provider of real estate data standard with a decade of experience to include our working relationship with OSCRE. The cooperation of these two respected companies, Argus and Snapwire, providing one platform of operation will be an great asset for all of us in this field of business!" George Chapman Chairman of the CARS Committee.

"We are always searching for ways to enhance and improve the professions and careers of those who work in commercial real estate," adds Mark Kingston, president and CEO of ARGUS Software. "Our team was immediately struck by Report Builder's user-friendly style and ability to help commercial appraisers and brokers spend more of their valuable time building fortunes, not spreadsheets or reports."

Steve Powel, Chief Operating Officer of Houston-based Situs Co., a commercial real estate services firm, was instrumental in facilitating the partnership. Situs is a user of both ARGUS and Snapwire products.

"This partnership will help us to significantly reduce the time required to aggregate data in the lending process, allowing lenders and their consultants to focus on analyzing the properties in their markets rather than spending time cutting and pasting data."