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EXHIBIT 99
KOGER EQUITY, INC.
8880 Freedom Crossing Trail
[KOGER LOGO] Jacksonville, Florida 32256
(904) 732-1000
N E W S
(BW)(FL-KOGER-EQUITY)(KE) KOGER EQUITY ANNOUNCES EARLY TENANT LEASE TERMINATIONS
Business Editors/Real Estate Writers
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Nov. 14, 2000--Koger Equity, Inc.
(NYSE:KE) today announced that several tenants have terminated their leases
prior to their scheduled termination date. These tenants were in the Company's
properties located in Tallahassee, Florida, Greensboro, North Carolina, and
Birmingham, Alabama. The prospective impact to the Company's Funds From
Operations will be approximately $0.02 per diluted share/unit for the quarter
ended December 31, 2000.
The tenants in Tallahassee, Florida, aggregate approximately 74,000
unseable square feet, include the State of Florida's Department of Labor and
Department of Transportation. The tenant in Birmingham, Alabama, is Eastwyn
Theatres, which occupied 30,000 useable square feet. The tenant in Greensboro,
North Carolina, is Nova Tech Science, which previously occupied 64,000 useable
square feet and has downsized to 7,000 useable square feet.
Koger Equity specializes in developing, owning and operating state-of-
the-art suburban office parks under the "Koger Center" brand name. The Company
owns 20 suburban office parks and four office buildings. For more information
on Koger Equity (NYSE:KE), contact the Company at 904 732-1000, or visit its
Web site at www.koger.com.
The foregoing message contains forward-looking statements. The actual
results of operations could differ materially from those projected because of
factors affecting the financial markets, reactions of the Company's existing
and prospective investors, the ability of the Company to implement the
management reorganization, acceptance of the management reorganization by the
Company's employees, contractors, tenants and others, the ability of the
Company to identify and execute development projects and acquisition
opportunities, the ability of the Company to renew and enter into new leases on
favorable terms, and other risk factors. See "Management's Discussion and
Analysis of Financial Condition and Results of Operations--Cautionary Statement
Relevant to Forward-Looking Information for Purpose of the 'Safe Harbor'
Provisions of the Private Securities Litigation Reform Act of 1995" in the
Company's Annual Report on Form 10-K/A for the Fiscal Year Ended December 31,
1999.
