Insignia Residential Group Selects Datastream 7i for Management of Peter Cooper Village/Stuyvesant Town Properties

Real Estate Management Firm Using Industry's Most Widely Deployed Web-Architected EAM Solution to Manage Maintenance and Upgrades to Manhattan Apartment Facility

GREENVILLE, S.C. - September 4, 2002 — Datastream Systems, Inc. (Nasdaq: DSTM), today announced that Insignia Residential Group has selected Datastream 7i™, Datastream's Web-architected enterprise asset management (EAM) solution, to manage and track maintenance processes at Peter Cooper Village and Stuyvesant Town, a 12,000-unit apartment portfolio in Manhattan owned by PCV/ST LLC, a subsidiary company of MetLife. The selection of Datastream 7i coincides with a major overhaul and upgrade of the two complexes.

Insignia, a business unit of Insignia Financial Group (NYSE: IFS), will use Datastream 7i to track and manage day-to-day maintenance requests and physical assets. The system will also enable workers and managers to monitor the progress of the upgrade project. Insignia's call center, which receives approximately 300 calls per day from Peter Cooper Village and Stuyvesant Town residents, will be integrated with Datastream 7i so that maintenance requests can be standardized and prioritized for optimal service. Datastream will maintain Insignia's EAM solution at Datastream's hosting facilities. As a result, Insignia employees can access the EAM application over the Internet from any Web connection in any location, giving them the flexibility necessary to access and share information quickly.

"We knew that upgrading these complexes would be no small task, and we specifically set out to find an EAM solution that could be hosted off-site so that we could concentrate on the maintenance and upgrades, not software and hardware," said Jeff Roush, project manager at Insignia Residential Group. "Datastream 7i was a perfect choice. This system has helped us to standardize our procedures, manage our vendors' time more effectively and improve communications among our own workers. All of this translates into money saved and increased satisfaction for our customers."

Datastream gives its customers the choice of deploying the application themselves, in the traditional enterprise license software model, or having Datastream host their licensed application. Deploying Datastream 7i as a hosted solution eliminates the costs associated with maintaining servers in house, while also significantly reducing the personnel costs associated with installing, administering and maintaining the application, thus reducing the total cost of ownership for enterprise-wide asset management.

"Insignia's deployment of Datastream 7i at Peter Cooper Village and Stuyvesant Town is a testament to the potential of Web-architected EAM for facilities management applications," said Larry Blackwell, chief executive officer of Datastream Systems, Inc. "Datastream 7i is a valuable tool for maintaining and coordinating the day-to-day operations of these buildings, as well as a reliable resource for managing the upgrades in progress at the complex. The wide acceptance of Datastream 7i in the marketplace can be directly attributed to its robust functionality, deployment flexibility and low total cost of ownership."

In April 2001, Insignia was selected by MetLife to be the first outside property management and leasing agent in 54 years to manage Peter Cooper Village and Stuyvesant Town. It is the latest in a series of marquee enterprise customers that have chosen to deploy the Datastream 7i solution since its introduction last October. As the only Web-architected EAM solution with a proven track record of deployments in the field, Datastream 7i continues to gain momentum as the preferred EAM solution for companies seeking to maximize their return on assets across multiple locations.

About Insignia Financial Group
With real estate leasing, management, investment and development professionals working together across borders, Insignia Financial Group (NYSE: IFS) provides powerful, integrated solutions to real estate challenges virtually anywhere in the world. Since its inception more than a decade ago, Insignia, has always been known for innovation, financial sophistication and a commitment to excellence in customer service. It is a formula that has placed Insignia in the top echelon of real estate services companies in the United States, France and the United Kingdom, and has been the catalyst for its international growth.

Insignia remains steadfast in its commitment to nurturing its traditional real estate services operations. These operations comprise the backbone of the organization, and their continued expansion and increasing market share are a driving force for Insignia's future growth. For more information, please visit http://www.insigniafinancial.com/.

About Insignia Residential Group
Insignia Residential Group, a business unit of Insignia Financial Group, is the most comprehensive residential real estate management firm in the New York Metropolitan area. With headquarters in Manhattan and site offices throughout the area, Insignia offers expert management of co-op, condominium and rental buildings throughout the five boroughs, Long Island, Westchester County and Northern New Jersey. For more information, please visit http://www.insigniaresidential.com/.

About Peter Cooper Village and Stuyvesant Town
Peter Cooper Village and Stuyvesant Town are adjacent developments, which together cover 80 tree-filled acres on the East Side of Manhattan. The properties, owned by PCV/ST LLC, a subsidiary company of MetLife, were built during World War II. For more information, please visit http://www.pcvst.com/.

About Datastream Systems, Inc.
Datastream Systems, Inc. (NASDAQ: DSTM) provides enterprise asset management (EAM) software, automated procurement supporting services to organizations worldwide, including more than 60 percent of the Fortune 500. Customers rely on Datastream's products and services to drive down operating costs and improve productivity through better management of capital assets.

Datastream's flagship product, Datastream 7i, was the first product in its class to combine an Internet architecture with broad EAM functionality. Datastream 7i integrates with the company's iProcure industrial procurement network to provide customers with a complete EAM solution that maximizes return on investment in capital assets, while minimizing the total cost of application ownership. Datastream was founded in 1986 and has customers in more than 140 countries.