SOURCE: Virtual Premise, Inc.

January 31, 2007 07:53 ET

Virtual Premise, Inc. Successfully Completes SAS 70 Type II Audit

ATLANTA, GA -- (MARKET WIRE) -- January 31, 2007 -- Virtual Premise, Inc., a leading provider of Real Estate Information Management software and services, announced today that it has obtained a Statement on Auditing Standards No. 70 (SAS 70) Type II Audit Report. This report validates that Virtual Premise's control processes and procedures have passed rigorous, third-party testing. The objective of the SAS 70 review was to provide Virtual Premise's Board and Virtual Premise's customers with an independent examination of the applicable internal controls placed into effect at Virtual Premise, Inc.

The SEC's Sarbanes-Oxley Act of 2002 requires publicly held companies to provide proof that their service companies have measures in place to ensure a secure and stable environment for their data. Although a privately held company, Virtual Premise is committed to the highest standards of data protection for its clients. The SAS 70 Type II assessment provides industry-standard assurances that controls are in place to effectively manage and protect customer data.

Andy Thomas, President and Chief Operating Officer, explains, "The successful completion of our SAS 70 audit distinguishes Virtual Premise as a leader in its commitment to excellence and integrity. The audit results affirm our company's mission to deliver critical business information and workflow services in a secure, reliable environment. We recognize that our SAS 70 examination provides an assurance to each of our customers, particularly those working to comply with Sarbanes-Oxley. We have expended considerable resources to provide our customers with this certification and will continue to pursue annual examinations to ensure our customers and their auditors can rely on our services."

About SAS 70

Statement on Auditing Standards (SAS) No. 70, Service Organizations, is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). For more information, visit

About Virtual Premise, Inc.

Virtual Premise, Inc. (, Atlanta, GA, is the leading provider of web-based Real Estate Information Management Software for Corporations, Retailers, Landlords and Commercial Real Estate Service Providers. The Virtual Premise Global Real Estate Management System™ includes Portfolio Management, Lease Management, Lease Administration, Project Management, Transaction Management, and Document Management. Virtual Premise also offers a wide range of supporting services to include Lease Abstracting, Data Entry, File Review and Organization, Document Scanning and Indexing, Data Integrity Sampling, Due Diligence and Data Audits.

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