Brooklyn Heights, Ohio ? July 20, 2004 ? Elite Management Group of El Segundo, California today announced that it has officially changed its name to Safeguard Asset Management.
 
Safeguard Properties (SPI) of Brooklyn Heights, Ohio is pleased to announce that it has established an entirely new division at Safeguard by expanding and renaming its subsidiary company, Elite Management Group (?EMG?) of El Segundo, California to Safeguard Asset Management (?SAM?).   While the division name is new at Safeguard, SAM, as EMG, has been providing full-service residential asset management and valuation services to financial institutions, mortgage servicers, and corporations nationwide. 
 
?The change in name will assure our valued clients that the experience derived from years of delivering high quality service by Safeguard Properties to the mortgage servicing industry will translate into the same level of service that is to be provided by Safeguard Asset Management,? said Robert Klein, CEO of Safeguard Properties  
 
Safeguard Properties Inc. has always focused its efforts on listening to its clients? needs and ?safeguarding? their interests.  Through this new division of Safeguard, SPI will now support their existing clients more broadly by offering new services that cover the entire REO process - from the foreclosure sale to the eventual sale and transfer of the REO property. 

The thousands of real estate brokers and other vendors registered with SAM will also benefit from having the full resources of Safeguard to assist them with their REO maintenance service requests, as well as from the extensive business relationships that Safeguard has in the mortgage servicing industry.
 
?Incorporating all aspects of the asset management division into the Safeguard system and operations, and having on-site locations in West Coast, Midwest, and Northeast states, will better serve our clients' interests in the areas that have sustained a high frequency of REO foreclosures,? said Victor Benjamin, Executive Director of SAM. 
 
One of the new services we will be providing the industry is SAM?s Pre-Sale Marketing plan, which has had excellent success since its inception. This new service combines the expertise and teamwork of pre-sale and REO professionals, with the goal of dramatically reducing the REO holding period and its associated costs.   This new service is unique to the industry and is now available as a result of Safeguard's resources, which cover the entire spectrum of services from the initial date of default through the REO sale. 

Another exciting new program offered by Safeguard and SAM is the Cradle-to-Grave REO maintenance program. This service provides all initial securing services and on-going maintenance of the REO property, from the foreclosure sale date to the REO sale date, for a Flat Fee. The risk of financial exposure and responsibility rest squarely with Safeguard.         
   
For more information on Safeguard Properties or Safeguard Asset Management services, please contact Nicole Alling, Marketing Project Manager, at (800) 852-8306 x 1125, or via email at nicole.alling@safeguardproperties.com.  Please visit the Safeguard Asset Management website for more details at www.safeguardassetmanagement.com.