CONTACT INFORMATION:
Sid Saunders
Pendulum Management Co. LLC
E-mail: ssaunders@pendulumsite.com
Phone: 850-837-0922
www.pendulumsite.com

September 18, 2003
FOR IMMEDIATE RELEASE

PENDULUM MANAGEMENT COMPANY OPENS NEW OFFICES AT TEXAS RESEARCH PARK IN SAN ANTONIO, TEXAS

San Antonio, TX - Pendulum Management Company announced today the opening of its new offices at the Texas Research Park in San Antonio. Pendulum plans to use these offices to establish and support on-going new business activities at the Research Park and elsewhere in San Antonio and the Southwest. Pendulum and the Texas Research Park Foundation have executed agreements to work together to establish partnership intermediary agreements between the Foundation and local, state and federal agencies to use government facilities and personnel to support research and accelerate the growth of high technology businesses in the region.

Pendulum Management Company is an asset management company and has proven success at maximizing the value of government assets and technology. The Pendulum team has transitioned several government real estate assets into revenue generating facilities while reducing the cost of ownership to the government and creating business opportunities for commercial companies to accelerate their growth.

Pendulum maintains offices in Indiana, Florida, Illinois, Tennessee and Missouri. Pendulum has contracts with the U.S. Army to market a number of its industrial sites to commercial companies and is also supporting the Army’s Installation Management Agency. Pendulum works with government contractors and commercial companies to better utilize government property for commercial advantage. The company has received numerous awards including the National Phoenix Award for Excellence for the Development of a Brownfield Site and the National Council for Public- Private Partnerships Distinguished Program Award.

“San Antonio’s state and federal assets offer real values for companies and research organizations to use to develop and accelerate new technologies. The City can be used as a National Laboratory,” said Sid Saunders, Manager of Pendulum. “We believe that facilities and operations like Transguide, the State of Texas Intelligent Transportation System, can be used to accelerate testing and use of new technologies that can then be used throughout the rest of the country.”

York Duncan, President of the Research Park Foundation, said “We are looking forward to working with the Pendulum team. We think that the teaming arrangement will help the region capitalize on some of the state and federal assets. It will help us attract more research funding for local companies and organizations as well as bring in new technology companies that can use these assets to accelerate their growth.”

The Texas Research Park Foundation (TRPF) is a non-profit technology-based economic development organization which manages and develops the Texas Research Park in San Antonio, Texas. TRPF and the City of San Antonio recently partnered to form the San Antonio Technology Accelerator Initiative (SATAI) to promote job creation and company formation in technology-based industries.

For more information on Pendulum Management Company, visit the company website at www.pendulumsite.com or email Sid Saunders at ssaunders@pendulumsite.com.

For more information on the Texas Research Park and Foundation see www.trpf.com or email York Duncan at Yduncan@trpf.com .