Jersey City, N.J. August 6, 2008 -- ITelagen (www.itelagen.com), the innovative provider of flat-rate IT services, today announced that it has contracted with four major metropolitan real estate investment and property management organizations to provide IT service and support. Panepinto Properties, which has , a portfolio of (completed and to-be built) 3 million sq. ft. of office space, more than 2,000 units of luxury rental housing and more that 130,000 sq. ft. of retail space; L&L Holding Company, a privately owned real estate group dedicated to investing in Manhattan office buildings; C&K properties, a growing New York City-based real estate investment firm; and MEM Property Management Corporation, have all tapped into ITelagen's flat-rate services, which are helping many in the real estate industry to reduce costs while giving them the IT horsepower to deliver new IT initiatives that increase productivity.

Over the past year, the real estate market has seen increased financial pressures and as costs have increased, many companies are turning to enterprise-grade technologies to improve organizational efficiencies and reduce operational costs. These technologies would be cost-prohibitive to maintain if it were not for ITelagen's flat-rate services. For a flat monthly fee, ITelagen implements and supports these systems through its proprietary ITAgent™ and ITVision™ technologies. This approach results in a substantial cost reduction for IT support and enables real estate groups to more efficiently manage and build properties in an otherwise depressed market.

"The real estate industry needs to reduce costs and as most large companies recognize, this can be accomplished through the adoption of enterprise-grade technologies," said John O'Keefe, CEO, ITelagen. "Our service brings Fortune 500-type IT support to the real estate investment and management companies for a flat monthly rate that enables them to more easily adopt these enterprise technologies and in turn, operate more efficiently," O'Keefe said.

ITelagen supports MEM Property Management so the company can focus on problem prevention rather than problem resolution, resulting in the maximization of asset value and increased levels of comfort, service and resident retention in its clients' properties.

"With the explosive growth in residential condominiums in the Jersey City area, our service needed to turn to enterprise-grade solutions to allow us to better manage our new clients," said Martin H. Laderman, president, MEM Property Management Corporation. "As part of this growth our office has gone 100 percent paperless and we now store and manage all of our documents electronically. We count on flat-rate IT services from ITelagen to ensure 100 percent uptime for our computers and network," Laderman said.

About ITelagen, Inc.
ITelagen (www.itelagen.com) Brings "Fortune 500" IT Support to and Small/Medium Sized Businesses and Healthcare practices by utilizing enterprise-grade management tools to proactively manage and support all aspects of their infrastructure. ITelagen offers its customers an all-inclusive, guaranteed, flat-rate service that provides management and support of all IT facets including desktop, server, electronic medical records (EMR), hosting, and network support, all on a flat-rate monthly subscription. For more information visit ITelagen on the Web at www.itelagen.com.