Resort Systems Acquires RezPlus` Rental Inventory & Portals

Resort Systems
Inc. (“RSI”) a leading
developer of property management and reservation systems for the hospitality
industry worldwide, today announced that it has entered into an agreement to
acquire the assets of RezPlus, Inc., of Portland, Oregon. The agreement is
subject only to RSI`s completion of due diligence by August 23, 2002.
The purchase of RezPlus gives RSI a vacation rental unit database of
approximately 14,000 properties, comprised of nearly 55,000 rental units.
Additionally, RSI receives exclusive license to the Vacation Street website,
the RezPlus name and URL
, exclusive right to a database of over
300 Property Managers, as well as several Web portals.

Travel has long been the number one product bought online on the Internet
but according to U.S. research magazine PhoCusWright
`s Lorraine Sileo, the
hot new online travel product is vacation rentals. Vacation rentals are
described as non-hotel accommodations that offer the amenities of home -
kitchen, extra bedrooms, balconies, etc.

Dean Carman, Director of Sales for RSI, explained, ” Property Managers
using our current ASP product especially like its ability to take online
reservations from as many Web sites as they wish, all in real time. Through
the acquisition of RezPlus` Vacation Street website and additional portals
we are now able to help them on the distribution side. This added benefit
will afford us the opportunity of increasing the sales of our Hotelsoft PMS

RSI`s HotelSoft for Windows is the industry`s first Web-based Property
Management System (PMS) offered on an ASP basis. The ASP model offers two
compelling reasons for hotels to buy HotelSoft for Windows. It is less
expensive to buy and operate than existing Legacy systems and, more
importantly, given the popularity of the Internet, it provides online

President and CEO, Peter Adam, added, “The new web portals will help us sell
HotelSoft, especially to those companies already on them. For these
companies, our immediate goal is to get them using our ASP product so that
they can take online reservations. This will automate the Web sites and give
RSI a recurring revenue stream through our percentage of the gross sale on
every electronic online transaction we process.”


P.Z. resort Systems Inc., has been in business since 1978. The company`s
Unix-based server-centric and ASP-based systems are installed in North
America, Europe, the UK and the Caribbean.

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(13/01/2002) Resort Systems Sells Their New 100% Web-based Central Reservations And Property Management System