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Developer of High Amenity Communities Makes AP More Attractive

Charlotte, NC (April 24, 2008) - Caldwell Companies has selected AvidXchange and Intuit Real Estate Solutions (IRES/MRI) for their back-office platform. AvidInvoice for MRI is a web-based paperless invoice management system designed to automate the way companies manage accounts payable documents. This module provides finance executives and AP managers with enforceable controls, powerful reporting and added "visibility" to all documents in their organization while providing invoice "approvers" with features that make it easier to apply accounting codes and approve or dispute invoices.

About Caldwell Companies

Founded in 1991, Caldwell Companies, headquartered in St. Louis, Missouri, is privately owned by Fred Caldwell. Since the beginning, Caldwell has grown steadily and now serves the commercial real estate needs of both corporations and private equity investors. Caldwell Companies is a fully-integrated firm providing marketing services for office, industrial, retail and land properties as well as tenacious client representation. An active participant in the commercial development community, Caldwell Companies builds office and industrial facilities. The firm offers asset management services for office, industrial and retail properties. In their growing residential development division, Caldwell Companies specializes in high amenity resort communities for a new style of residential living. Additional information on Caldwell Companies can be found at www.caldwellcos.com.

About Intuit Real Estate Solutions

Intuit Real Estate Solutions (IRES/MRI), headquartered in Cleveland, Ohio, offers business management solutions to the global property management industry as well as to corporate real estate managers. Offering the most flexible solutions with both outsourced hosted offerings and packaged enterprise software, IRES strives to develop long-term successful relationships with its clients. The business currently has more than 4,500 clients on five continents and in 41 countries. Additional information on Intuit Real Estate Solutions can be found at www.realestate.intuit.com.

About AvidXchange

Founded in 2000, AvidXchange, Inc., headquartered in Charlotte, North Carolina, is the industry-leading provider of paperless invoice management and electronic purchase order tools for real estate companies in the office, retail, multi-family and industrial sectors. More than 30 public REITs and over 120 real estate companies are managing their payables with AvidInvoice, the SAS 70 Certified AP workflow solution that eliminates lost invoices, minimizes late fees/overnight courier charges and reduces invoice processing costs by up to 50%. Additional information on AvidXchange can be found at www.avidxchange.com.

For Immediate Release
Contact: Michael Praeger
mpraeger@avidxchange.com
704.971.8101

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