TSE, ASE, ME SYMBOL: BEI
OCTOBER 19, 1999
Boardwalk Signs Deal With Nortel Networks Installation Of
Boardwalk Virtual Concierge Underway
CALGARY, ALBERTA--Boardwalk Equities Inc. ("BEI" - TSE, ASE, ME)
today announced it has entered into a $3 million contract with
Nortel Networks(x) [NYSE/TSE: NT] to provide 250 NetVenue(x)
eCommerce systems customized as Boardwalk Virtual Concierges
(BVCs). The BVCs will be delivered and installed over the next 12
to 18 months. Twenty BVCs are already installed in the lobbies of
selected buildings and are now operational; ten in Calgary and ten
in Edmonton. The BVC is part of the "Club Boardwalk" strategy,
which is to harness the bulk purchasing power of Boardwalk's
expanding customer base providing goods and services at a
discount. Through this initiative, Boardwalk continues to lead the
way in applying new technology to the stable, old-world
multi-family rental industry.
"The Boardwalk Virtual Concierge will allow customers who do not
have computers or access to the Internet to interact with the
company electronically. They will be able to review their
account, place and review maintenance requests, and email
suggestions or concerns. The BVCs will greatly improve
administrative efficiency at our head office while also opening
the door to eCommerce opportunities. With over 50,000 existing
customers in our suites, we can negotiate significant savings on
their behalf. We will be able to introduce our customers to a
wide array of goods and services at very competitive prices.
Ultimately, this will lead to greater customer satisfaction and
reduced monthly turnover," states Sam Kolias, CEO of Boardwalk
Equities Inc.
"We are very excited to be working with Boardwalk and deploying
Nortel Networks NetVenue eCommerce platform, one of our key
Internet Telephony solutions, as the basis for Boardwalk's BVC
initiative," said James MacKenzie, general manager, Advanced
Public Access Solutions, Nortel Networks. "Boardwalk has taken a
leadership position in offering their customers advanced eBusiness
solutions that provide convenient, cost-effective and easily
accessible services throughout their tenant base. We look forward
to an ongoing strategic relationship with Boardwalk as we continue
to advance the solutions available for public eCommerce delivery."
The BVC provides an efficient method of communication, order entry
and transaction record keeping. As part of its eCommerce
initiative, Boardwalk intends to pursue strategic relationships
with vendors of various goods and services including groceries,
insurance, real-estate brokerage, restaurants, hair salons,
dry-cleaning and home care. The types of relationships will vary
from a direct interest, as is the case with Shop HomeXpress (an
Edmonton based Internet Grocer), to simply making the service
available to tenants at a discount. The BVC will allow the tenant
to interact directly with the vendor via the Internet, or to print
out discount coupons to surrounding shops and restaurants.
Boardwalk Equities Inc. is a customer oriented, technologically
advanced real estate company specializing in the acquisition and
management of multi-family residential projects throughout Canada.
Boardwalk owns or has contracted to acquire over 24,000 units
representing approximately 20 million net rentable square feet.
For further information regarding Boardwalk Equities Inc., contact
Sam Kolias, President; George Reti, Executive Vice-President; or
Massimo Geremia, Investor Relations at (403) 531-9255.
Information can also be found on the Internet at
http://www.bwalk.com.
Nortel Networks and NetVenue are trademarks of Nortel Networks
Corporation.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Boardwalk Equities Inc.
Sam Kolias
President
or
George Reti
Executive Vice-President
or
Massimo Geremia
Investor Relations
(403) 531-9255
(403) 531-9565 (FAX)
http://www.bwalk.com
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