Press Release

Simms Management Awards Submetering Contract to
Guardian Water & Power

Columbus, Ohio March 10, 2005 – Simms Management Corporation has selected Guardian Water & Power to provide submetering services for five of their apartment communities located in the Dayton, Ohio area. Charles V. Simms founded Simms Management in 1989 to oversee apartment communities built by Charles Simms Development Corporation.

“Increasing municipal water rates have been a primary concern at our properties in the Dayton area,” stated Simms Management President Jim Ritterhoff. “We selected Guardian Water & Power to help us transition our communities from master-metered service to individual resident utility billing by using the latest technology available in the industry. The transition to individual billing will help control our operating expenses and maintain our communities at the same high standards with which we build them. Guardian’s twenty-two year track record in utility submetering was a key factor in selecting them to guide us through this process.”

Installation of individual submeters in each apartment units began in February. “We will be installing a fixed-base wireless system that electronically transmits meter readings on a daily basis to our Columbus billing center,” stated Guardian President Harry Apostolos. “We expect to complete installation of all metering equipment and electronics by the end of April,” Apostolos said.

Guardian Water & Power, Inc. provides water, gas and electric submetering services including meter installations, billing, collections and customer care for multi-unit investment real estate located in 14 states. Clients include individual real estate investors and partnerships, property management companies and a number of real estate investment trusts.


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