Foundation Software Celebrates 20th Anniversary as Leading Supplier of Job Cost Accounting Software for the Labor-Intensive Contractor

Building on strengths and customer loyalty, FSI positioned to become #1 software developer.

February 20, 2005 Cleveland - For Immediate Release: Foundation Software, a national developer of construction accounting systems, celebrates their 20th Anniversary this year and announces the company’s future plans for growth and development.

Fred Ode, founder and CEO of Foundation Software, started his company in 1985 with a “dare to be different” attitude. A high school math teacher turned computer programmer and entrepreneur; Ode initially developed a flexible software application for the Wang mini-computer to meet the unique job cost accounting and financial management needs of the labor-intensive contractor. This system was later re-designed for the DOS (second generation) and current Windows (third generation) operating environments. Incorporated with a staff of only two employees, Ode performed many company functions in the early years – from programmer and salesman, to marketer and support rep.

In 1991, Foundation experienced rapid growth in terms of both employees and sales, rocketing it to its current status as industry leader, and earning recognition five consecutive times as one of Northeast Ohio’s fastest growing companies. The company now employs more than 50 full and part-time staff members and serves over 1,800 clients nationwide with direct sales offices in the North, South, East and West. A Texas sales office is scheduled to open this summer.

Foundation Software, as reflected in its mission statement that says, “When better is possible, good is not enough,” has worked continuously over the years to improve both its products and services. In March of 2000, following a self-funded $5 million investment and four years of careful programming, Foundation launched its flagship product, FOUNDATIONâ for Windowsâ. FOUNDATION uses a powerful Microsoftâ SQL database, providing unsurpassed power, flexibility and security. The program includes many one-of-a-kind features including hundreds of standard reports, complete date-sensitivity and patent-pending custom report designers.

Customer support and client satisfaction are important priorities at Foundation Software, earning the company a high-quality status that is unique among technology help-desks. Responding to monthly random customer satisfaction surveys, for example, clients consistently ranked Foundation as “Excellent” or “Superior” in knowledge and friendliness, and “Excellent” or “Superior” for response time throughout 2004.

Striving to become the number one job-cost construction accounting system for contractors in the U.S., Foundation Software has initiated some unique and innovative projects, including

· The development of a construction-specific CPA database, available only through Foundation Software website (www.foundationsoft.com), that provides contractors with a geographical listing of construction-focused accountants.

· Assistance in the planning, creation and execution of a new job-cost accounting curriculum at Michigan State University. This program will educate construction management students (undergraduate and graduate levels) on the theoretical and functional application of job cost accounting in construction. Foundation Software will develop the coursework, to be initially offered as three classes during the Fall 2005 semester with plans to become a regular course. In addition, Foundation Software is donating twenty-five user licenses to their FOUNDATION for Windows accounting software, a database and computers for the hands-on lab portion of the curriculum.

“From the very beginning, I was determined to create a software program, and a company, that would stand the test of time,” Fred Ode said. “Twenty years later, we remain focused on the construction industry and their unique needs. We’re actively involved in industry associations, have solid relationships with hundreds of construction-specific CPAs, and we have a solid growth plan that ensures we’ll always be here to support the system.” ###

Foundation Software, Inc.™ - Since 1985, Foundation Software has helped thousands of labor-intensive contractors improve their accounting, job-costing and overall financial management with FOUNDATION for Windows construction accounting system. FOUNDATION uses powerful Microsoft® SQL technology, which provides robust reporting, ease of use and superior data flexibility. The software suits a wide range of construction trades. For information, visit us online at www.foundationsoft.com or call (800) 246-0800.

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