For Immediate Release August 1998

Real Estate Cyberspace Society Chooses RealData® As A Society Gold Vendor

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BOSTON, MASS. � The Real Estate Cyberspace Society announced today that it has selected RealData® of South Norwalk, CT as a Society Gold Vendor. According to John M. Peckham III, Executive Director of the Society, "RealData has demonstrated a long-time commitment to providing quality software and support for the commercial/investment real estate industry. They were one of the pioneers in the use of personal computers to simplify the complex issues of income-property analysis and presentation, introducing their original software in the early '80s. Since that time they have consistently been a leader in providing useful and usable computer solutions to our industry."

Peckham said that a RealData online booth is now open at the Society's Online Expo, located at The Society's recommendation appears at the site, along with information about the program, called Real Estate Investment Analysis, Version 10.0. Information about other RealData products can also be accessed from the site.

Frank J. Gallinelli, President of RealData, described the program as being built on Microsoft Excel. According to Gallinelli, it is an integrated application that includes a lease-by-lease income summary, an analysis of operating expenses, a detailed analysis of before- and after-tax cash flows and potential resale, a partnership module and a lease versus buy analysis. "When we originally designed the program in 1980, we were creating it for our own use as investors. Even though spreadsheets were in their infancy at that time, it became immediately obvious to us that the spreadsheet environment was ideal for this type of analysis. It is highly intuitive � what you see is indeed what you get � and if necessary it allows you to modify the analysis to fit the deal without having to re-write the entire program.

"What has evolved over nearly two decades is a program that is far more sophisticated, of course, but it retains many of the original qualities that has made it popular. The user has the best of two worlds. We've written complex tax and financing calculations, designed presentation-quality reports and graphs and made the program quite sophisticated but still very easy to operate. Yet we still allow the user to unlock the model and make changes if necessary. A change can be as simple as altering a label or adding an explanatory footnote, but sometimes that's all it takes to create a presentation that works. By having the program in Excel the user works in an environment that is probably already familiar, enjoys tremendous flexibility and doesn't have to pay us a fortune to reinvent the functionality of the spreadsheet. Everyone benefits."

In addition to their income property analysis, RealData offers Excel-based applications for income-property development and subdivision/condominium development. Detailed information about all of RealData's products is available at the company's web site, Also available there is a series of educational articles and commentaries for those involved with investment real estate.

The RealData Booth at the Real Estate Cyberspace Society's Online Expo can be visited at Society membership information is available at 617-523-4441.

The Real Estate Cyberspace Society provides Real Estate Cyberspace strategies and services for it's members. The Society's World Office is open 24 hours a day at Stone age creatures can obtain Society membership information at 617-523-4441.

For Further information or interviews:

John M. Peckham III
Executive Director
Real Estate CyberSpace Society
Four Longfellow Place, Suite 2408
Boston, MA 02114
Phone: 617-523-4440 Fax: 617-523-4736