Interactive Executive Offices acquires 7 business centers in Atlanta, Georgia

Interactive Executive Offices Corp. (Interactive) was established in 1990. Prior to our expansion into the US market, Interactive operated seven professional business centers in the greater Toronto area. Interactive decided to take the company's successful formula and apply it to other markets, both domestically and in the United States. California was chosen for Interactive's first expansion foray into the US market with two centre locations, one in San Diego and the other in Los Angeles.

After successfully establishing a foothold in California, the state of Georgia was identified as the next market for expansion. Research indicated that Atlanta was the second most prosperous business area in America, after New York. Interactive sent a delegation of key personnel to the OBCAI 2002 Annual Conference held in Atlanta. The president of Interactive Executive Offices Corp., Andrew Gyenes, was impressed with the local business climate and the selection of Class "A" facilities in the greater Atlanta area. The potential for growth and success in Atlanta's business centre industry was very clear.

At the conference Mr. Gyenes met a developer, who attended the conference in search of in-depth information about the business center industry. The developer had plans of building a business centre in one of the properties that he owns. It was during the conference that the decision to acquire existing centers, those that mirrored Interactive's formula, was made. Mr. Gyenes started making contacts in the Atlanta market. Six months later, after numerous trips for sites researching, negotiations and finalizing details, Interactive now has a presence in the Atlanta market.

Encouraged by the company's successful expansion into California and Atlanta, Interactive will continue to search out other American markets. Long-term plans for expansion will focus on developing a larger presence in North America and exploring opportunities in other global business centers.

For additional information, contact:

Lily Fung
Interactive Executive Offices Corp.
1 Dundas Street West, Suite 2500
Toronto, Ontario M5G 1Z3
Tel.: (416) 979-7800
Fax.: (416) 204-1939



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