University of Minnesota's Carlson School of Management Selects Stonehaven Subsidiary RESoft to Build Information Framework

Business Wire, Dec 28, 2000

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Dec. 28, 2000

Students, Faculty, Administration, Alumni, Donors, Prospective

Students, Others to benefit from RESoft Project

Stonehaven Realty Trust's (AMEX:RPP) wholly-owned subsidiary RESoft(R), Inc., a leading provider of end-to-end technology solutions, announced today that the University of Minnesota's Carlson School of Management has selected RESoft to build its Oracle(TM)-based information framework. The Carlson School of Management initiative will help the school meet the growing demand for 24-hour service and efficient access to information.

The Carlson School of Management is working with RESoft to help build its information framework to manage information that comes from a variety of different sources throughout the business school as well as the University of Minnesota. Students, faculty, administration, alumni, donors, prospective students, and a host of other groups will be able to securely access the information provided by the system.

"Building a state-of-the-art, information framework will enable individuals to more quickly make informed decisions," says Doug Lund, Director of Information Technology at the Carlson School of Management. "This strategy will help save both time and money as well as enable us to continue to provide better programs to our students."

About the Carlson School of Management

The Minneapolis-based Carlson School of Management is in its 81st year of existence and employs 112 faculty and 194 staff members. Its mission is to advance the practice of management in the context of a global economy with increasing technological and social change.

About RESoft, Inc.

RESoft, Inc. is focused on providing content management solutions to mid and large size corporations and institutions. The Company has served more than 80 content management clients, including Colliers Towle, General Mills, Cargill and Oppenheimer Wolff & Donnelly LLP. Stonehaven Realty Trust acquired RESoft, Inc. in February 2000 to capitalize on the growing content management needs of the online real estate sector.

Certain matters discussed within this press release may be deemed to be forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Stonehaven Realty Trust believes the expectations reflected in such forward looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Stonehaven's expectations include changes in local or national economic or real estate conditions, expanding a new line of business, customer demand for online services and products, uncertainty of emerging online services, ability to meet competition, loss of existing key personnel ability to hire and retain future personnel and other risks detailed from time to time in the company's SEC reports and filings, including its annual report on Form 10-K, quarterly reports on Form 10-Q and periodic reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.