Enfrastructure Changes Name to TechSpace; Former CFO Michael Simmons Named President

Aliso Viejo, California, UNITED STATES

CHICAGO, June 2, 2003 (PRIMEZONE) -- Enfrastructure Inc., a full-service facilities and infrastructure provider, today announced that it has officially changed its name to TechSpace, the name of the company Enfrastructure acquired in June 2002. The announcement was made today at Realcomm 2003, the annual commercial real estate automation and business solutions conference held in Chicago this week.

The company name change was announced concurrent with the promotion of Chief Financial Officer Michael Simmons to President and Victor Memenas to Chief Operating Officer. The announcement was made by former Enfrastructure CEO James "Watty" Watson, who serves as Chairman of the Board. In addition to Simmons and Watson, other TechSpace Board members include Don Kendall, co-founder and former chairman of PepsiCo, Inc., and Gerald Greenwald, United Airlines chairman emeritus and former CEO.

"This management team will advance the company to a new operating level and provide leadership for continued expansion," said Watson.

"The name change to TechSpace was a strategic decision that I have been planning since last year," said Simmons, who is speaking at Realcomm 2003 this week in a forum titled "Tenant Experience." "Significant time and money have been invested in developing brand awareness for the TechSpace name in seven global markets over the past five years, including New York. The Enfrastructure brand-building has been focused primarily in Southern California. Also, our research indicated that the TechSpace name was more appealing to customers and better understood. It's a friendly name that communicates a big part of our value proposition."

"From the client perspective, all campus services and amenities will remain the same," added Memenas. "Our clients will continue to enjoy premier facilities, robust service offerings and great locations."

The name change has the most significant impact on the Orange County, CA campus, the only campus in the country that operates under the Enfrastructure name. The campus, located in Aliso Viejo, CA along with the company's corporate headquarters, will celebrate its new identity later this month during a campus-wide event for current and future clients and business partners.

A series of marketing activities will promote the new TechSpace name, including a new logo, advertising, signage, web site enhancements, and collateral materials.

Prior to being named president of TechSpace, Simmons was chief financial officer for Enfrastructure. He will continue to act as CFO for TechSpace. Simmons brings 15 years of diverse experience in finance and operations management to his new role. Prior to Enfrastructure, Simmons was chief operating officer of the S.R. Jacobson Corporation. He also spent several years in financial management at Ford Motor Company where he held positions in sales and marketing, product development, and operations finance. Prior to joining Ford, he was a CPA with Coopers & Lybrand where he specialized in mergers and acquisitions and consulting with a variety of public and private companies. Simmons holds an MBA from the Kellogg School at Northwestern University.

Memenas was formerly Enfrastructure's vice president of western operations, responsible for the management of sales, campus operations and client services for the Orange County campus. Previously, as director of strategic alliances, Memenas was responsible for all product management and business development activities. Prior to joining Enfrastructure, Memenas handled new business development for Compuware Corporation.

In addition to workspace and business infrastructure, TechSpace campuses on the East and West Coasts offer competitive, high quality hardware and software products through its strategic partnerships with IBM, Microsoft and Avaya, all of which are also investors and shareholders in TechSpace. The company also offers a host of other IT services and business process outsourcing solutions for its clients. Campus offerings include:

 -- Managed LAN/WAN infrastructure
 -- State-of-the-art data center with scalable and redundant 
   Internet access
 -- Industry-leading telecommunications services, call center, 
   and managed IT services
 Premier Office Space:
 -- Fully furnished, scalable and pre-wired office space
 -- Large and small conference rooms on demand
 -- Flexible terms
 -- Dining cafe
 -- Reception, administrative and tech support on demand
 -- Friendly and helpful on-site staff

About TechSpace

In June 2002, Enfrastructure acquired TechSpace, bridging East and West Coasts with premier business infrastructure solutions. The company changed its name to TechSpace in June 2003.

With a total of four facilities in the United States, TechSpace is a full-service facilities and infrastructure provider delivering a completely integrated IT and business process outsourcing platform for growth companies. TechSpace's integration of flexible office space, state-of-the-art technology infrastructure, and business process outsourcing solutions leaves companies free to concentrate on their core competencies.

Two campuses are located in New York -- in Union Square and the West Village-one in Boston's South End, and one in Aliso Viejo in Southern California. For more information on TechSpace, please visit the company's web site at www.techspace.com. Company, product and service names may be registered trademarks, trademarks or service marks of their respective owners.



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