Bricsnet Appoints New Chairman of the Board

Long-time Investor Hector Rodriguez of Torimbia Holding Group Brings Deep Commitment to Leading IWMS Company

San Francisco, CA- October 27, 2006: Bricsnet announced today that Hector Rodriguez has been appointed Chairman of the Board. Rodriguez has served on the Board of Bricsnet since 2002, when he co-led the group that bought the Bricsnet business from a predecessor company. He has led all subsequent capital rounds in Bricsnet, which has established Torimbia as the majority shareholder in the company.

Rodriguez also serves on the Board of other Torimbia companies and is the Principal of the Torimbia group that sanctions all new investments. He has a strong technology and business background attained early on through his 9-year tenure in Accenture, where he worked on multinational projects in the US, Europe and Latin America.

â??Hector has a unique understanding of global real estate and significant technology experience, a combination that brings the perfect level of expertise to this complex, rapidly changing landscape. We are thrilled that he has accepted this new position,â?� said Farid Jinian, Bricsnet CEO.

Torimbia is a circa USD 1 Billion privately held and family-owned holding group, with business interests in the sectors of Real Estate, retail gas distribution, global credit card payment processing and other minority investments.

Real Estate is the core activity within its portfolio of companies, which own 600,000 SF of prime commercial Real Estate properties in Madrid's most exclusive business districts. As a property owner, it leases and headquarters some of Spain's largest companies such as Telefonica Moviles, NH Hotels, Banco Espirito Santo, etc.

Torimbia's philosophy in its investments (such as Bricsnet) is simple: close direct involvement, longer-term view and profitability, and the flexibility and high-enduring values of a successful family-owned operation.

Said Rodriguez: â??There has never been a better time for companies to increase profitability through improved management of their real estate assets; the urgency to improve shareholder value and to satisfy financial reporting requirements has created a demand for companies like Bricsnet, companies which bring a new toolset to the table that can immediately raise profits and improve regulatory compliance. I look forward to the assignment, and to the market growth weâ??ll continue to see in the coming months and years.â?�

About Bricsnet

Bricsnetâ??s business was founded in 1986 and helps large corporations improve profits by more effectively managing all aspects of their workplace (including buildings, land, space, people, assets, and systems). Its flagship product, Building|Center, a leading Integrated Workplace Management System -- along with an expert advisory services group -- provides fast, pragmatic and innovative solutions to increasing shareholder value.