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PRESS RELEASE RELEASE DATE: JUNE 18, 1999 For Further Information Contact: John Alco, 703/293/1474 U.S. Inspect to Host Inspection Issues Symposium on Exterior Insulation and Finish Systems (EIFS) FAIRFAX, VA - The first-ever Inspection Issues Symposium hosted by U.S. Inspect is set for June 29 at the Crystal Gateway Marriott in Arlington, Virginia. The symposium will provide a wealth of information on Exterior Insulation and Finish Systems (EIFS) to senior level executives, corporate counsel, and top relocation operations personnel from the nation's leading third-party relocation management companies, corporate relocation programs, and residential real estate brokerages. The symposium will run from 8:00 a.m. to 5 p.m. Commonly known as synthetic stucco, EIFS is a leading concern of corporate relocation and real estate professionals throughout the country and the subject of an ongoing class action lawsuit brought by North Carolina homeowners against EIFS manufacturers. Trial in the class action is set to begin in October. In addition to the class action, approximately 450 lawsuits have been filed in state courts throughout the country by individual homeowners against manufacturers, home builders, and other parties involved in the design and building of homes clad with EIFS. The suits generally allege that barrier EIFS do not allow moisture to escape if it becomes trapped behind the EIFS. Homeowners claim moisture penetration, typically around window and door frames, results in rotting and damage to a home's wood sheathing. EIFS manufacturers have long maintained that the product is sound and point to poor installation as the primary culprit for a large percentage of reported damages. The symposium will feature numerous nationally recognized experts serving on presentation and discussion panels. Headlining the diverse line-up of experts who will address concerns in the corporate relocation and real estate industries are: Mark F. Williams, FAIA, president of Williams Building Diagnostics Inc.; Gary K. Shipman, co-lead counsel for plaintiff homeowners in the Ruff v. Parex EIFS class action lawsuit; J.B. "Jay" Graham, III, Inspections Director, New Hanover County (North Carolina) Inspections Department; Allen Golden, Assistant Inspections Director, New Hanover County Inspections Department; John A. Kilpatrick, senior analyst with Mundy & Associates; Gary Mason, Esq., products liability specialist with the Washington, D.C. law firm Cohen, Milstein, Hausfeld & Toll; Thomas M. Clayton, corporate counsel for EIFS manufacturer Senergy, Inc.; Kenneth G. Hecht Jr., Esq., SCRP, partner in the Oakland law firm Robbins Palmer & Allen LLP; Gregory J. Baumann, Director of Technical & Field Services with the National Pest Control Association; David S. Jaffe, staff counsel and Director of Construction Liability for the National Association of Home Builders (NAHB); Ty Prettyman, engineer with Exponent Failure Analysis Associates; and Christopher J. McElroy, Esq., senior corporate counsel for EIFS manufacturer USG Corp. U.S. Inspect Chairman and Chief Executive Officer Keith S. Fimian said the impressive panelist roster underscores the company's mission of helping clients solve complex problems involving inspection issues. "This symposium will give corporate relocation and real estate professionals direct access to experts who understand the technical issues, the disclosure issues, and the legal issues relating to EIFS," Fimian said. "The individuals we are bringing together understand the depth of the problems associated with EIFS. "These are people who will be able to offer direction to corporate relocation professionals in the development of sound relocation policies in this difficult area. And with respect to the overall real estate industry, these are people who are able to detail why disclosure of EIFS is so critical from a risk management perspective." Advance registration for the symposium is required. Requests for registration materials should be made by email at symposium99@usinspect.com or by calling (703) 293-1474. There is no registration fee for invited clients and guests of U.S. Inspect or for members of the press with credentials. * * * * * * * * * * * * * * U.S. Inspect, Inc. is the nation's leading provider of inspection services. The company operates in three principal segments -- Residential Retail, Corporate Relocation, and Community & Commercial Services - providing customers and clients with nationwide coverage for more than 50 inspection types, including general home, termite, radon, structural, private well and septic systems, pool/hot tub, replacement reserve studies and other specialty inspection services. The U.S. Inspect network is comprised of more than 6,000 employee field consultants and independent supplier contractors who possess the kind of on-site professionalism and technical proficiency sought by homebuyers and sellers, corporate relocation professionals, community and planned unit development professionals, and commercial property owners in communities throughout the country. From headquarter offices in the suburbs of Washington, D.C., U.S. Inspect annually produces more than 100,000 inspection reports for clients involved in all facets of the real estate business. The inspection services company of choice for corporate America, U.S. Inspect counts Cendant Corporation, Cendant Mobility Services, Century 21, Coldwell Banker, ERA, Prudential Real Estate & Relocation, Relocation Resources International, Resort Condominiums International (RCI), RE/MAX International and Weichert among its clients and strategic partners.
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