STELLENT'S SMARTCABINET REAL ESTATE SOLUTION INCREASES OPERATING EFFICIENCIES AND REDUCES COSTS FOR SHORENSTEINOnline document management service enables company to easily manage thousands of real estate documents on the Web; Shorenstein signs three-year contract renewal EDEN PRAIRIE, MN, April 22, 2004 - Stellent, Inc. (Nasdaq: STEL), a global provider of content management solutions, announced today that Shorenstein Company, one of the largest private owners and operators of high-quality office buildings in the United States, is increasing operating efficiencies and reducing costs using Stellent® SmartCabinet, a solution designed specifically for the corporate and commercial real estate industry. Shorenstein also recently signed a three-year contract renewal for the Web hosting of Stellent SmartCabinet. The Stellent SmartCabinet technology enables Shorenstein to manage thousands of real estate documents, such as lease agreements and asset reports, on the Web, allowing authorized employees and external parties, including attorneys, architects and lenders, to efficiently access, share and collaborate using this information. By bringing its content to the Web, Shorenstein has improved many of its business processes, from asset management, leasing and legal services, to property acquisitions and dispositions. ³Stellent has helped us align our cost structure more closely with business cycles,² said Jim Pierre, executive vice president, director of asset management for Shorenstein. ³Because the solution enables us to efficiently and securely share information with external partners, we are able to effectively outsource our legal function and decrease our administrative staff.² SmartCabinet has enabled Shorenstein to accelerate cycle disposition times and enhance its leasing process. For example, before the Stellent implementation, Shorenstein manually distributed information packages to targeted buyers who spent large amounts of time verifying data in these packages. With Stellent, buyers can now quickly access documents on the Web rather than sifting through 50-page, hard-copy reports and, as a result, can complete property closings in a more timely fashion. ³Stellent SmartCabinet is not simply a Web-based library where our information is stored,² said Natasha Tuck, program manager for Shorenstein. ³Every document that resides in the Stellent system is a critically important piece of information as people rely on it to effectively conduct business. Because the solution can be delivered as a managed, outsourced service that Stellent hosts, maintains and upgrades for a predictable monthly fee, we receive full, on-demand access to real estate-specific functionality without the up-front, ongoing costs and risks of owning and implementing our own software.² ³SmartCabinet enables property owners, operators and developers to more effectively access and share their critical business content,² said Robert Olson, president and chief executive officer for Stellent. ³The results of Shorenstein¹s Stellent implementation demonstrate how paper-intensive real estate companies can utilize our solution to bring a higher level of efficiency to business processes, which often results in significant return on investment.² A number of leading real estate companies use Stellent Universal Content Management solutions to efficiently access, share and manage critical business information. These organizations include Edina Realty, CB Richard Ellis, GMAC, Argent Real Estate, First Industrial Realty Trust, Grubb & Ellis, HCPI, NVM and Trizec. To view an in-depth case study of the Stellent SmartCabinet implementation at Shorenstein, visit www.stellent.com/shorensteincs. Stellent SmartCabinet Features
Stellent SmartCabinet provides paper-intensive real estate companies and
corporations which have substantial property management departments with a
customized, Web-based application for more effectively sharing and accessing
critical business documents. The solution enables customers to securely
store documents where they can be managed, accessed and shared by employees
and partners via the Web whenever and wherever they are needed, helping them
increase revenue, reduce costs and improve customer service and partner
satisfaction by being more productive with the documents and information
they utilize on a daily basis. For more information, visit
www.stellent.com/realestate About Stellent, Inc. Stellent, Inc. (www.stellent.com) is a global provider of content management software solutions. The company helps organizations raise productivity, decrease costs and enhance company-wide collaboration and communication by enabling them to efficiently store, access, manage, share, distribute and track critical business information. Stellent has been recognized by a number of leading publications and organizations for its product innovation, market leadership and successful customer implementations. Honors include: ³2004 Best of Show Award² from AIIM E-DOC Magazine; an International Business Award in the ³2003 Best New Product or Service² category; 2003 RealWare Award for ³Best Enterprise Content Management Application² from Transform; ³Trend-Setting Product of 2003³ from KMWorld; and 2003 Editors¹ Choice Gold Award from WebSphere Advisor Magazine. Stellent has more than 2,000 customers, including Procter & Gamble, Merrill Lynch, Los Angeles County, British Red Cross, ING, Target Corp., Emerson Process Management, Genzyme Corp. and various BlueCross BlueShield organizations across 15 states. Stellent is headquartered in Eden Prairie, Minn. and maintains offices throughout the United States, Europe and Asia-Pacific. ### Any forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties including, without limitation, risks of intellectual property litigation, risks in technology development and commercialization, risks in product development and market acceptance of and demand for the Company's products, risks of downturns in economic conditions generally and in the Web content management tools and intranet information management markets specifically, risks associated with competition and competitive pricing pressures, risks associated with foreign sales and higher customer concentration and other risks detailed in the Company's filings with the Securities and Exchange Commission. Stellent and the Stellent logo are registered trademarks or trademarks of Stellent, Inc. in the USA and other countries. Outside In and Quick View Plus are registered trademarks of Stellent Chicago, Inc. in the USA and other countries. All other trade names are the property of their respective owner. FOR FURTHER INFORMATION: Amanda Kohls Haberman & Associates, Inc. amanda@modernstorytellers.com |