CBRE Residential Management Selects Intuit Real Estate Solutions to Implement Property Management Software

MRI Residential Best Technology Solution to Proactively Manage Company’s Tokyo Asset Management Operations

TOKYO -- April 18, 2006 -- CB Richard Ellis Residential Management K.K. (CBRE Residential Management) implemented Intuit Real Estate Solutions’ (IRES) industry-leading property management software solution in its Tokyo operations to streamline workflow. IRES’ Japanese Web version of the enterprise management technology solution was officially integrated and operational late 2005, to coincide with CBRE Residential Managements’ one-year anniversary of their Initial Public Offering (IPO).

CBRE Residential Management is the asset management company for New City Residence Investment Corporation, a new, property-backed, high-quality residential J-REIT, with a market capitalization of approximately $580 million. IRES, a division of Intuit Inc. (Nasdaq: INTU), develops innovative property management and asset management software solutions for the global real estate industry.

The recent flow of direct foreign investments into Asian real estate, especially in Japan, has created the need for higher standards of certified technology capable of supporting increased demands on corporate governance, security and global benchmarking analysis. “It makes sense for IRES, as a global real estate technology company, to invest resources into developing software solutions tailored for the Asian Pacific market, particularly in Japan,” said Jeff Thompson, IRES president. Foreign investment in Japan is expected to triple in the near-term and at least 43 multinational real estate companies are active in Japan…up from 33 in 2004.”

CBRE Residential Management stated that Intuit MRI Real Estate Solutions, the division responsible for technology solutions in the Asian Pacific market, was the best solution capable of managing the company’s needs.

“We formerly operated three separate systems for each business function between property managers and us, which resulted in difficulty obtaining timely information in form which we would like,” commented Fujita Tetsuya, president of CBRE Residential Management. “The ability of the IRES Japanese solution to consolidate information from many properties into one integrated system was a significant factor in our decision making process. We are confident that IRES is the best system powerful enough to handle the abundance of information we need to effectively operate our business.”

The IRES solution was also selected because of the enormous flexibility within the system, which effectively allows users to customize how they interact with the software. Users can choose between the traditional Windows-based interface or the new Web-based system, various languages including English, Japanese or both, as well as multi-measurement types such as tsubo, sqft or sqm and multi-currency features.

“Intuit Real Estate Solutions develops software products to meet the evolving needs of individual clients to ensure they are operating at the highest efficiency,” said Stephen Wilson, managing director of Intuit MRI. “The robust functionality and flexibility of the MRI solution helped CBRE Residential Management develop a transparent reporting tool to streamline the management and support of the firm’s asset management operations.”

About Intuit Real Estate Solutions

Intuit Real Estate Solutions offers business management solutions to the global property management industry as well as to corporate real estate managers. Offering the most flexible solutions with both outsourced hosted offerings and packaged enterprise software, Intuit Real Estate Solutions strives to develop long-term successful relationships with its clients. Currently, the business has more than 4,500 clients on five continents and in 41 countries. For more information, please visit www.realestate.intuit.com.

About Intuit Inc.

Intuit Inc. (NASDAQ:INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants.

Founded in 1983, Intuit has annual revenue of more than US$2 billion. The company has over 7,000 employees with major offices in 13 states across the U.S. and offices in Canada, EAME, and Asia Pacific. More information can be found at www.intuit.com.