Press Release

Guardian Water & Power Awarded New Development Contracts

Columbus, Ohio August 31, 2004 – Guardian Water & Power, Inc. has signed three contracts with The NRP Group of Cleveland, OH to supply water submetering systems in three of its new apartment communities. Guardian will also provide The NRP Group with monthly monitoring and billing services.

The new communities will be constructed in Chesterfield, VA, and Shallote and Wilmington, NC. The NRP Group develops affordable and market rate apartments and single-family housing.

Guardian will supply the metering equipment and install all electronic components. The meter systems will measure water use in each unit and electronically transmit usage to a central billing location via radio frequency. “We are delighted that The NRP Group selected us to provide submetering services for their new apartment communities,” said Guardian Water & Power, Inc. President Harry Apostolos.

Earlier this year, Guardian was also awarded a contract to install and monitor submetering systems at Kennedy Ridge Apartments in North Olmsted, OH for The NRP Group.

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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