<PAGE>
 
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
 
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549
 
                               ----------------
 
                                   Form 10-Q
 
                               ----------------
 
(Mark One)
 
[X]QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
   ACT OF 1934
 
  For the quarterly period ended March 31, 1999
 
  OR
 
[_]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
   EXCHANGE ACT OF 1934
 
  For the transition period from                  to
 
                        Commission File Number 0-23241
 
                       BUILDING ONE SERVICES CORPORATION
            (Exact name of registrant as specified in its charter)
 
<TABLE>
<S>                                            <C>
                  DELAWARE                                       52-2054952
       (State or other jurisdiction of                        (I.R.S. Employer
       incorporation or organization)                       Identification No.)
</TABLE>
 
<TABLE>
<S>                                            <C>
   800 Connecticut Avenue, NW, Suite 1111
              Washington, D.C.                                     20006
  (Address of principal executive offices)                       (Zip Code)
</TABLE>
 
                                (202) 261-6000
             (Registrant's telephone number, including area code)
 
  (Former name, former address and former fiscal year, if changed since last
                                    report)
 
  Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes [X] No [_]
 
  As of May 14, 1999, there were 21,693,105 shares of common stock
outstanding.
 
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
                                     INDEX
 
<TABLE>
<CAPTION>
                                                                      Page No.
                                                                      --------
<S>                                                                   <C>
PART I--FINANCIAL INFORMATION
Item 1. Financial Statements
  Consolidated Balance Sheet as of March 31, 1999 and December 31,
   1998..............................................................     1
  Consolidated Statement of Operations for the three months ended
   March 31, 1999 and 1998...........................................     2
  Consolidated Statement of Stockholders' Equity for the three months
   ended March 31, 1999..............................................     3
  Consolidated Statement of Cash Flows for the three months ended
   March 31, 1999....................................................     4
  Notes to Consolidated Financial Statements.........................     5
Item 2. Management's Discussion and Analysis of Financial Condition
 and Results of Operations...........................................    11
Item 3. Quantitative and Qualitative Disclosures about Market Risk...    15
PART II--OTHER INFORMATION
Item 2. Changes in Securities and Use of Proceeds....................    16
Item 5. Other Events.................................................    16
Item 6. Exhibits and Reports on Form 8-K.............................    16
Signatures...........................................................    18
 
Exhibit Index........................................................   (i)
</TABLE>
 
                                      (i)
<PAGE>
 
PART I--FINANCIAL INFORMATION
 
Item 1. Financial Statements
 
                       BUILDING ONE SERVICES CORPORATION
                           CONSOLIDATED BALANCE SHEET
                (Dollars in thousands, except per share amounts)
 
<TABLE>
<CAPTION>
                                                                      Pro Forma
                                            March 31,   December 31,  March 31,
                                              1999          1998        1999
                                           -----------  ------------ -----------
                                           (unaudited)               (unaudited)
                                                                      (see Note
                                                                         3)
<S>                                        <C>          <C>          <C>
                  ASSETS
Current assets:
  Cash and cash equivalents............... $  174,273    $  213,096  $    9,638
  Accounts receivable, net................    276,981       246,623     276,981
  Costs and estimated earnings in excess
   of billings on uncompleted contracts...     39,931        25,441      39,931
  Prepaid expenses and other current as-
   sets...................................     19,252        17,108      19,252
                                           ----------    ----------  ----------
    Total current assets..................    510,437       502,268     345,802
Property and equipment, net...............     47,541        38,967      47,541
Intangible assets, net....................    596,460       496,381     596,460
Other assets..............................      7,682         6,306      29,682
                                           ----------    ----------  ----------
    Total assets.......................... $1,162,120    $1,043,922  $1,019,485
                                           ==========    ==========  ==========
   LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Short-term debt......................... $    5,068    $    2,167  $    5,068
  Accounts payable........................     81,882        75,029      81,882
  Billings in excess of costs and
   estimated earnings on uncompleted
   contracts..............................     66,672        58,773      66,672
  Income taxes payable....................     11,875         6,125       9,394
  Accrued compensation....................     32,338        27,737      32,338
  Accrued liabilities.....................     60,633        25,047      60,633
                                           ----------    ----------  ----------
    Total current liabilities.............    258,468       194,878     255,987
Long-term debt............................      4,783         3,287     425,275
Other liabilities.........................      4,531         8,220       4,531
                                           ----------    ----------  ----------
    Total liabilities.....................    267,782       206,385     685,793
                                           ----------    ----------  ----------
Stockholders' equity:
  Common stock, $.001 par value,
   250,000,000 shares authorized,
   46,307,373 and 45,258,946 shares issued
   and outstanding, respectively
   (21,688,517 pro forma).................         46            45          22
  Additional paid-in capital..............    874,299       832,514     273,495
  Treasury stock..........................    (41,832)      (41,832)        --
  Retained earnings.......................     61,988        47,255      60,338
  Accumulated other comprehensive income
   (loss).................................       (163)         (445)       (163)
                                           ----------    ----------  ----------
    Total stockholders' equity............    894,338       837,537     333,692
                                           ----------    ----------  ----------
    Total liabilities and stockholders'
     equity............................... $1,162,120    $1,043,922  $1,019,485
                                           ==========    ==========  ==========
</TABLE>
 
   The accompanying notes are an integral part of these financial statements.
 
                                       1
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
                      CONSOLIDATED STATEMENT OF OPERATIONS
                (Dollars in thousands, except per share amounts)
                                  (unaudited)
 
<TABLE>
<CAPTION>
                                                             Three Months
                                                            Ended March 31,
                                                         ----------------------
                                                            1999        1998
                                                         ----------  ----------
<S>                                                      <C>         <C>
Revenues................................................ $  350,842  $   54,610
Cost of revenues........................................    280,692      44,233
                                                         ----------  ----------
    Gross profit........................................     70,150      10,377
Selling, general and administrative expenses............     42,714       7,918
Goodwill amortization...................................      3,469         324
                                                         ----------  ----------
    Operating income....................................     23,967       2,135
Other (income) expense:
  Interest income.......................................     (2,508)     (6,656)
  Interest expense......................................         96          99
  Other, net............................................       (281)       (111)
                                                         ----------  ----------
Income before taxes.....................................     26,660       8,803
Provision for income taxes..............................     11,927       3,722
                                                         ----------  ----------
Net income.............................................. $   14,733  $    5,081
                                                         ==========  ==========
Net income per Common Share--Basic...................... $     0.32  $     0.15
                                                         ==========  ==========
Net income per Common Share--Diluted.................... $     0.31  $     0.15
                                                         ==========  ==========
Weighted average shares outstanding--Basic.............. 45,973,455  32,987,273
                                                         ==========  ==========
Weighted average shares outstanding--Diluted............ 47,740,958  34,075,876
                                                         ==========  ==========
</TABLE>
 
 
   The accompanying notes are an integral part of these financial statements.
 
                                       2
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
                 CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY
                   For the three months ended March 31, 1999
                             (Dollars in thousands)
                                  (unaudited)
 
<TABLE>
<CAPTION>
                             Common Stock
                          ------------------
                                                                             Accumulated
                                             Additional                         Other         Total         Total
                            Shares            Paid-in-  Treasury   Retained Comprehensive Stockholders' Comprehensive
                          Outstanding Amount  Capital     Stock    Earnings Income (loss)    Equity        Income
                          ----------- ------ ---------- ---------  -------- ------------- ------------- -------------
<S>                       <C>         <C>    <C>        <C>        <C>      <C>           <C>           <C>
Balance, December 31,
 1998...................  45,258,946   $45    $832,514  $ (41,832) $47,255      $(445)      $837,537
Stock issued upon
 exercise of options....      16,926                83                                            83
Issuance of common stock
 for acquisitions.......   1,002,507     1      15,166                                        15,167
Stock issued under
 employee stock purchase
 plan...................      28,994               435                                           435
Contingently Issuable
 Shares.................                        26,101                                        26,101
Unrealized gain on
 marketable securities--
 net of tax.............                                                          282            282       $   282
Net income..............                                            14,733                    14,733        14,733
                                                                                                           -------
Total comprehensive
 income.................                                                                                   $15,015
                          ----------   ---    --------  ---------  -------      -----       --------       =======
Balance, March 31,
 1999...................  46,307,373   $46    $874,299  $(41,832)  $61,988      $(163)      $894,338
                          ==========   ===    ========  =========  =======      =====       ========
</TABLE>
 
 
   The accompanying notes are an integral part of these financial statements.
 
                                       3
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                             (Dollars in thousands)
                                  (unaudited)
 
<TABLE>
<CAPTION>
                                                          Three months ended
                                                               March 31,
                                                          --------------------
                                                            1999       1998
                                                          ---------  ---------
<S>                                                       <C>        <C>
Cash flows from operating activities:
 Net income.............................................. $  14,733  $   5,081
 Adjustments to reconcile net income to net cash
  provided by operating activities:
  Depreciation and amortization..........................     6,117        802
  Changes in operating assets and liabilities:
   Accounts receivable...................................    (8,692)   (10,601)
   Costs and estimated earnings in excess of billings....    (8,403)     2,405
   Prepaid expenses and other current assets.............    (1,178)      (951)
   Billings in excess of costs and estimated earnings....     1,781      5,552
   Accounts payable......................................       152      2,546
   Accrued liabilities...................................     7,825      2,993
  Change in other assets.................................      (659)      (523)
                                                          ---------  ---------
    Net cash provided by operating activities............    11,676      7,304
                                                          ---------  ---------
Cash flows from investing activities:
 Cash paid for acquisitions, net of cash acquired........   (45,271)  (111,840)
 Purchases of property and equipment.....................    (5,632)    (1,206)
 Proceeds on sale of equipment...........................        90        617
 Other...................................................       (98)       304
                                                          ---------  ---------
    Net cash used in investing activities................   (50,911)  (112,125)
                                                          ---------  ---------
Cash flows from financing activities:
 Net proceeds (payments) on short-term debt..............       261        (54)
 Payments on long-term debt..............................      (688)      (996)
 Proceeds from long-term debt............................     1,163      1,570
 Distribution to Minority Shareholders...................      (842)
 Proceeds from stock options exercised...................        83
 Proceeds from issuance of stock under employee stock
  purchase plan..........................................       435
                                                          ---------  ---------
    Net cash provided by financing activities............       412        520
                                                          ---------  ---------
Net decrease in cash and cash equivalents................   (38,823)  (104,301)
Cash and cash equivalents, beginning of period...........   213,096    528,972
                                                          ---------  ---------
Cash and cash equivalents, end of period................. $ 174,273  $ 424,671
                                                          =========  =========
The Company issued shares of common stock and cash in connection with certain
business combinations during the three months ended March 31, 1999 and March
31, 1998, respectively. The fair values of the assets acquired and liabilities
assumed at the dates of acquisition are as follows:
Accounts receivable...................................... $  21,665  $  73,351
Inventories..............................................       541      1,022
Costs and earnings in excess of billings.................     6,087     10,426
Prepaid expenses and other current assets................       343      3,660
Property and equipment...................................     5,685     11,520
Intangible assets........................................    46,714    175,132
Other assets.............................................     2,575      2,526
Short-term debt..........................................    (2,180)    (7,113)
Accounts payable.........................................    (6,700)   (19,103)
Accrued liabilities......................................    (7,124)   (14,052)
Billings in excess of costs and estimated earnings.......    (6,119)   (22,425)
Long-term debt...........................................    (1,049)    (2,909)
Other long-term liabilities..............................        --     (2,801)
                                                          ---------  ---------
Net assets acquired...................................... $  60,438   $209,234
                                                          =========  =========
These acquisitions were funded as follows:
Common stock, 1,002,507 and 5,088,049 shares,
 respectively............................................ $  15,167   $ 97,394
Cash, net of cash acquired...............................    45,271    111,840
                                                          ---------  ---------
                                                          $  60,438   $209,234
                                                          =========  =========
</TABLE>
 
          See accompanying notes to consolidated financial statements.
 
                                       4
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 
                                  (unaudited)
               (Dollars in thousands, except per share amounts)
 
NOTE 1--BUSINESS AND ORGANIZATION
 
  Building One Services Corporation, ("Building One" or the "Company") is a
leading provider of integrated facilities services in the United States.
Currently, the Company provides mechanical and electrical installation and
maintenance services, and janitorial and maintenance management services. The
Company's goal is to become the preeminent single-source provider of
facilities services in the United States.
 
  The interim financial data as of March 31, 1999 and for the three months
ended March 31, 1999 and March 31, 1998 is unaudited; however, in the opinion
of the Company, the interim data includes all adjustments, consisting only of
normal recurring adjustments necessary for a fair presentation of the results
for the interim periods. Operating results for interim periods are not
necessarily indicative of results that may be expected for the year as a
whole. It is suggested that these consolidated financial statements be read in
conjunction with the Company's audited consolidated financial statements for
the year ended December 31, 1998.
 
NOTE 2--SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
  There were no significant changes in the accounting policies of the Company
during the interim periods presented. For a description of these policies,
refer to Note 2 of the Notes to Consolidated Financial Statements included in
the Company's Annual Report on Form 10-K for the year ended December 31, 1998.
 
NOTE 3--TENDER OFFER
 
  On May 11, 1999, the Company completed the repurchase of 24,618,856 shares
of its common stock at $22.50 per share for cash and 881,144 shares of common
stock underlying stock options at $22.50 per share less the exercise price per
share of the options ("Tender Offer"). Funds utilized for the repurchase
totaled $560,127, which were obtained from the Company's available cash, the
net proceeds of $195,492 from the issuance of $200,000 of 10 1/2% senior
subordinated notes, $100,000 from the issuance of 7 1/2% convertible
subordinated notes to Boss Investment LLC, an affiliate of Apollo Management,
L.P. and borrowings under a new credit facility.
 
  The unaudited pro forma balance sheet as of March 31, 1999 as presented in
the accompanying consolidated balance sheet gives effect to the Tender Offer,
including the financing of the Tender Offer as if they had been consummated as
of the Company's most recent balance sheet date, March 31, 1999. See Note 5
for unaudited pro forma statement of operations for the three months ended
March 31, 1999 and 1998.
 
  As a result of our allowing for the exchange of approximately 881,144
employee stock options in the Tender Offer, compensation expense will be
recognized for the net cash payments made upon exercise of the stock options.
Compensation expense related to the option shares purchased in the Tender
Offer approximates $2,751 ($1,650 after the associated tax benefit) and will
be recorded during the three months ended June 30, 1999.
 
NOTE 4--BUSINESS COMBINATIONS
 
 Purchase Acquisitions
 
  During the three months ended March 31, 1999, the Company completed eight
business combinations that were accounted for under the purchase method of
accounting. The consolidated financial statements include the results of these
acquired entities from their respective dates of acquisition. The aggregate
consideration paid for these acquisitions consisted of 1,002,507 shares of
Common Stock and $48,782 in cash, including applicable
 
                                       5
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
 
                                  (unaudited)
               (Dollars in thousands, except per share amounts)
 
professional fees. The aggregate purchase price does not include the potential
payment of contingent consideration of up to approximately $11,650 in cash and
shares of Common Stock based upon the performance of the businesses acquired.
 
  The total purchase price was allocated to the fair value of the net assets
acquired, resulting in goodwill of approximately $46,687. Such allocations are
preliminary in nature, pending the outcome of a detailed analysis being
performed by the Company of the assets and liabilities acquired. For purposes
of computing the estimated purchase price for accounting purposes, the value
of the shares on certain acquisitions was determined in consideration of
restrictions on the sale and transferability of the shares issued. The shares
generally are subject to the following restrictions on resale: up to one-third
of the shares may be resold beginning twelve months after their date of
acquisition, the first one-third and an additional one-third may be resold
beginning eighteen months after their date of acquisition and the first two-
thirds and the remaining one-third may be resold beginning twenty-four months
after their date of acquisition.
 
 Contingently Issuable Shares
 
  In conjunction with acquisitions consummated in 1998, the Company entered
into certain contingent consideration agreements which provide for the payment
of approximately $136,927 in cash and shares of common stock based on the
performance of such acquired companies. During the three months ended March
31, 1999, $59,125 of consideration under these agreements had been earned
consisting of 1,657,483 shares of Common Stock and $30,124 million of cash.
Accordingly, additional goodwill in the amount of $56,625 was recorded. The
cash amount payable under these arrangements has been reflected as a liability
as of March 31, 1999 and the additional paid-in capital associated with the
shares to be issued has been reflected as Contingently Issuable Shares in the
Statement of Stockholders' Equity. These Contingently Issuable Shares have
been included in the weighted average shares outstanding for purposes of
computing basic and diluted earnings per share for the three months ended
March 31, 1999.
 
                                       6
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
 
                                  (unaudited)
               (Dollars in thousands, except per share amounts)
 
NOTE 5--UNAUDITED PRO FORMA STATEMENT OF OPERATIONS
 
  The following unaudited pro forma results of operations give effect to the
Tender Offer, including the financing of the Tender Offer, acquisitions
completed during the year ended December 31, 1998 and the three months ended
March 31, 1999 as if they had been consummated on January 1, 1998, and the
effects of certain other pro forma adjustments to the historical financial
statements.
<TABLE>
<CAPTION>
                                                             Three Months
                                                            Ended March 31,
                                                         ----------------------
                                                            1999        1998
                                                         ----------  ----------
<S>                                                      <C>         <C>
Revenues................................................ $  373,258  $  336,111
Cost of revenues........................................    298,940     275,515
                                                         ----------  ----------
    Gross profit........................................     74,318      60,596
Selling, general and administrative expenses............     45,702      39,397
Goodwill amortization...................................      3,654       3,308
                                                         ----------  ----------
    Operating income....................................     24,962      17,891
Other (income) expense:
  Interest income.......................................        (17)
  Interest expense......................................     10,829      10,973
  Other, net............................................       (497)     (2,326)
                                                         ----------  ----------
Income before taxes.....................................     14,647       9,244
Provision for income taxes..............................      7,196       4,872
                                                         ----------  ----------
Net income.............................................. $    7,451  $    4,372
                                                         ==========  ==========
Net income per Common Share--Basic...................... $     0.34  $     0.20
                                                         ==========  ==========
Net income per Common Share--Diluted....................       0.31        0.21
                                                         ==========  ==========
Weighted average shares outstanding--Basic.............. 21,910,397  21,578,216
                                                         ==========  ==========
Weighted average shares outstanding--Diluted............ 27,997,422  26,405,533
                                                         ==========  ==========
</TABLE>
 
  Net income per Common Share--Basic is calculated based upon the weighted
average shares outstanding assuming the repurchase of 24,618,856 shares
occured as of January 1, 1998. Net income per Common Share--Diluted is
calculated based upon net income adjusted for a reduction in interest expense
assuming conversion of the convertible subordinated debentures in the amount
of $4,788, and weighted average shares outstanding adjusted for the conversion
of the convertible subordinated debentures into 4,444,444 shares of common
stock plus the dilution attributable to options and warrants and contingently
issable shares.
 
  The pro forma results of operations are prepared for comparative purposes
only and do not necessarily reflect the results that would have occurred had
the Tender Offer and the acquisitions occurred as of January 1, 1998 or the
results that may occur in the future.
 
NOTE 6--COST AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
 
<TABLE>
<CAPTION>
                                                                  March 31, 1999
                                                                  --------------
<S>                                                               <C>
Costs incurred on uncompleted contracts..........................  $   974,123
Estimated earnings...............................................      176,770
                                                                   -----------
                                                                     1,150,893
Less: Billings to date...........................................   (1,177,634)
                                                                   -----------
                                                                   $   (26,741)
                                                                   ===========
</TABLE>
 
                                       7
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
 
                                  (unaudited)
               (Dollars in thousands, except per share amounts)
 
 
  Included in the accompanying balance sheet under the following captions:
 
<TABLE>
<CAPTION>
                                                                March 31, 1999
                                                                --------------
<S>                                                             <C>
Costs and estimated earnings in excess of billings on
 uncompleted contracts.........................................    $ 39,931
Billings in excess of costs and estimated earnings on
 uncompleted contracts.........................................     (66,672)
                                                                   --------
                                                                   $(26,741)
                                                                   ========
</TABLE>
 
NOTE 7--SEGMENT REPORTING
 
  The Company has two reportable segments: mechanical/electrical and
janitorial. The mechanical/electrical segment offers a single source for
designing, installing, maintaining and upgrading a facility's electrical
systems as well as providing a facility's mechanical, HVAC and plumbing needs.
The janitorial segment provides a wide variety of facility cleaning and
maintenance management services nationwide.
 
  The accounting policies of the segments are the same as those described in
the summary of significant accounting policies. The Company evaluates
performance based on operating income and on earnings before interest, taxes,
depreciation and amortization ("EBITDA").
 
  The Company's reportable segments offer different products and services.
Intersegment transactions are accounted for as if they were to third parties,
that is, at current market prices. All of the Company's revenues are derived
from domestic sources. Each of the acquired companies was acquired as a unit,
and the management at the time of the acquisition was retained.
 
  Prior to January 1, 1999, the Company had three reportable segments:
electrical, mechanical and janitorial. Effective January 1, 1999, the Company
changed the structure of its internal organization and as a result the
Electrical and Mechanical segments have been combined into one reportable
segment.
 
<TABLE>
<CAPTION>
                                  Mechanical
                                and Electrical Janitorial Corporate Consolidated
                                -------------- ---------- --------- ------------
<S>                             <C>            <C>        <C>       <C>
Revenues
  Three months ended:
  March 31, 1999...............    $296,632     $ 54,210   $   --    $  350,842
  March 31, 1998...............      31,970       22,640       --        54,610
Operating income (loss)
  Three months ended:
  March 31, 1999...............      23,849        3,320    (3,202)      23,967
  March 31, 1998...............       2,630          145      (640)       2,135
EBITDA
  Three months ended:
  March 31, 1999...............      28,597        4,661    (3,174)      30,084
  March 31, 1998...............       3,156          421      (640)       2,937
Total assets
  March 31, 1999...............     857,722      126,301   178,097    1,162,120
  March 31, 1998...............     274,362       27,773   418,446      720,581
Working capital
  March 31, 1999...............     163,901       12,435    75,633      251,969
  March 31, 1998...............      34,281          546   412,020      446,847
</TABLE>
 
                                       8
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
 
                                  (unaudited)
               (Dollars in thousands, except per share amounts)
 
 
  A reconciliation of consolidated EBITDA to consolidated income before taxes
is as follows:
 
<TABLE>
<CAPTION>
                                                            Three Months Ended
                                                                March 31,
                                                            --------------------
                                                              1999       1998
                                                            ---------  ---------
<S>                                                         <C>        <C>
EBITDA:
  Total segment EBITDA..................................... $  30,084  $  2,937
  Depreciation and amortization............................    (6,117)     (802)
  Other income, net........................................     2,693     6,668
                                                            ---------  --------
    Consolidated income before income taxes................ $  26,660  $  8,803
                                                            =========  ========
</TABLE>
 
NOTE 8--STOCK PURCHASE AND AWARD PLANS
 
  In connection with business combinations consummated during the period from
January 1, 1999 through March 31, 1999 the Company is expected to issue
options for an additional 207,800 shares of the Company's Common Stock, under
the Company's Long-Term Incentive Plan.
 
  During the three months ended March 31, 1999 the Company issued 28,994
shares of common stock to employees under the Company's Employee Stock
Purchase Plan.
 
                                       9
<PAGE>
 
                       BUILDING ONE SERVICES CORPORATION
 
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued)
 
                                  (unaudited)
               (Dollars in thousands, except per share amounts)
 
 
NOTE 9--NET EARNINGS PER SHARE
 
  The following table reconciles the numerators and denominators of the basic
and diluted EPS computations for the three-month periods ended March 31, 1999
and 1998.
 
<TABLE>
<CAPTION>
                                                          Three Months Ended
                                                               March 31,
                                                        -----------------------
                                                           1999        1998
                                                        ----------- -----------
<S>                                                     <C>         <C>
Basic earnings per share:
  Net income........................................... $    14,733 $     5,081
  Weighted average shares outstanding--Basic...........  45,973,455  32,987,273
                                                        ----------- -----------
  Net income per share--Basic.......................... $      0.32 $      0.15
                                                        =========== ===========
Diluted earnings per share:
  Net income........................................... $    14,733 $     5,081
                                                        =========== ===========
  Weighted average shares outstanding--Basic...........  45,973,455  32,987,273
  Convertible non-voting common stock..................         --      500,000
  Common stock equivalents from stock options and
   warrants............................................     277,080     578,207
  Contingently issuable shares.........................   1,490,423      10,396
                                                        ----------- -----------
  Total weighted average shares outstanding--Diluted...  47,740,958  34,075,876
                                                        ----------- -----------
  Net income per share--Diluted........................ $      0.31 $      0.15
                                                        =========== ===========
</TABLE>
 
  Outstanding stock options and warrants to purchase 5,974,775 shares of
Common Stock as of March 31, 1999 were not included in the computation of
diluted earnings per share because the options' exercise prices were higher
than the average market price of the Common Stock during the period.
 
                                      10
<PAGE>
 
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
 
                                 INTRODUCTION
 
  The following discussion should be read in conjunction with the consolidated
historical financial statements, including the related notes thereto,
appearing elsewhere in this Quarterly Report on Form 10-Q, as well as the
Company's audited consolidated financial statements for the year ended
December 31, 1998 as filed on Form 10-K with the Securities and Exchange
Commission on March 29, 1999.
 
  Founded in February 1997, Building One Services Corporation is a leading
provider of facilities services in the United States. The Company completed
its initial public offering ("IPO") in December 1997 raising net proceeds of
approximately $527 million. The proceeds have been used by the Company
primarily in its acquisition program and to finance the Company's repurchase
of shares of common stock in its Tender Offer further discussed below.
 
  On May 11, 1999, the Company completed the repurchase of 24,618,856 shares
of its common stock at $22.50 per share for cash and 881,144 shares of common
stock underlying stock options at $22.50 per share less the exercise price of
the options. Total funds utilized for the repurchase excluding associated fees
totaled $560.1 million, which were obtained from the Company's available cash,
the net proceeds of $195.5 million from the issuance of $200 million of 10
1/2% senior subordinated notes, $100,000 from the issuance of 7 1/2%
convertible subordinated notes to Boss Investment, LLC, an affiliate of Apollo
Management, L.P. and borrowings under a new credit facility (the "Credit
Facility").
 
  As a result of the Company's acquisition program, its financial condition
and results of operations have changed dramatically from its inception and IPO
in December 1997 to March 31, 1999. The Company completed 37 business
combinations since our inception. Thirty-four of these business combinations
have been accounted for under the purchase method of accounting (the
"Purchased Companies") and three of these business combinations consummated
during the second quarter of fiscal 1998 have been accounted for under the
pooling-of-interests method of accounting (the "Pooled Companies"). The
Company's consolidated financial statements give retroactive effect to the
three business combinations accounted for under the pooling-of-interests
method and include the results of the companies acquired in business
combinations accounted for under the purchase method from their respective
acquisition dates. Due to the Company's growth through acquisitions,
comparisons of the historical results of the Company's operations have been
and will continue to be affected by the addition of acquired companies.
Increases in the various revenues and expense components of the Company's
results are, to a large degree, due to growth from acquisitions. Neither the
magnitude nor the source of such changes is necessarily indicative of changes
that will occur in the future.
 
  The Company's revenues are recognized as services are performed for
maintenance and service contracts. Additionally, the Company utilizes the
percentage-of-completion method of accounting for installation contracts.
Under this method, revenues are recognized according to the ratio of costs
incurred to estimated total contract
costs. Changes in job performance, job conditions, estimated profitability and
final contract settlements may result in revisions to costs and income and are
recognized in the period in which the revisions are determined.
 
  The Company believes that it has and will continue to realize savings from
the consolidation of insurance and bonding programs, consolidation of certain
back office functions for some of its operations and volume purchase discounts
from vendors of commodity services and materials and service vehicles. These
savings may be partially offset by costs associated with our corporate
operations and costs of integrating acquired businesses.
 
                      CONSOLIDATED RESULTS OF OPERATIONS
 
Three months ended March 31, 1999 compared to the three months ended March 31,
1998
 
  Revenues. Consolidated revenues for the three months ended March 31, 1999
increased $296.2 million, or 542.5%, to $350.8 million from $54.6 million for
the three months ended March 31, 1998. This increase was primarily a result of
the acquisition of the Purchased Companies, which have been included since
their respective dates of acquisition, and to a much lesser extent an increase
in the revenues of the Pooled Companies.
 
                                      11
<PAGE>
 
  Gross profit. Gross profit for the three months ended March 31, 1999
increased $59.8 million, or 576.0%, to $70.2 million from $10.4 million for
the three months ended March 31, 1998. This increase was primarily a result of
the acquisition of the Purchased Companies and to a much lesser extent an
increase in gross profit at the Pooled Companies. Gross profit as a percentage
of revenues ("gross margin") increased to 20.0% for the three months ended
March 31, 1999 from 19.0% for the three months ended March 31, 1998. This
increase in the gross margin was attributable to the higher gross margins of
the Purchased Companies.
 
  Selling, general and administrative. Selling, general and administrative
expenses for the three months ended March 31, 1999 increased $34.8 million, or
440.5%, to $42.7 million from $7.9 million for the three months ended March
31, 1998. This increase was primarily attributable to the selling, general and
administrative expenses of the Purchased Companies, and the general and
administrative costs of the Company's corporate activities. Selling, general
and administrative expenses as a percentage of revenues decreased to 12.2% for
the three months ended March 31, 1999 from 14.5% for the three months ended
March 31, 1998.
 
  Goodwill amortization. Goodwill amortization for the three months ended
March 31, 1999 increased $3.2 million, or 970.7%, to $3.5 million from $0.3
million for the three months ended March 31, 1998. This increase was a result
of the acquisition of the Purchased Companies.
 
  Other income, net. Other income, net for the three months ended March 31,
1999 decreased $4.0 million, or 59.7%, to $2.7 million from other income of
$6.7 million for the three months ended March 31, 1998. This decrease was
primarily attributable to the use of cash from the Company's IPO to acquire
the Purchased Companies.
 
  Provision for income taxes. The provision for income taxes for the three
months ended March 31, 1999 increased to $11.9 million from $3.7 million for
the three months ended March 31, 1998, reflecting an effective tax rate of
44.7% and 42.3% respectively. The increase in the effective rate was primarily
attributable to the increase in income generated from entities which were
subject to C corporation taxes, versus companies acquired under the pooling-
of-interests method which had elected to be treated as subchapter S
corporations for tax purposes prior to their being acquired by the Company.
Additionally, the 44.7% effective rate reflects the non-deductibility of
goodwill amortization associated with certain acquisitions.
 
                        LIQUIDITY AND CAPITAL RESOURCES
 
  During the three months ended March 31, 1999, net cash provided by operating
activities was approximately $11.7 million. Net cash used in investing
activities for the three months ended was $50.9 million, which primarily
consisted of $45.3 million used for acquisitions. Net cash provided by
financing activities for the three months ended March 31, 1999 was $0.4
million, which consisted primarily of net proceeds on short-term debt of $0.3
million, net proceeds on long-term debt of $0.5 million, and $0.8 million of
distributions to minority partners of a 50% owned entity.
 
 
  The Company acquired eight businesses during the three months ended March
31, 1999. Aggregate consideration for these acquisitions consisted of
1,002,507 shares of common stock and $48,782 in cash.
 
  In conjunction with the acquisitions consummated during the three months
ended March 31, 1999 and during the year ended 1998, the Company has entered
into contingent consideration agreements of up to an estimated $148.6 million
in cash and shares of common stock based upon the performance of certain of
the businesses acquired. As of May 14, 1999 $59 million of consideration has
been earned, of which $23.5 million has been paid in cash. The Company expects
that approximately $52 million of additional contingent consideration will
become payable in 1999, of which approximately $34 million will be payable in
cash.
 
  As previously discussed, on May 11, 1999, the Company completed the
repurchase of 24,618,856 shares of its common stock at $22.50 per share for
cash and 881,144 shares of common stock underlying stock options at $22.50 per
share less the exercise price per share of the options. Total funds utilized
for the repurchase totaled $560.1 million, which were obtained from the
Company's available cash, the net proceeds of $195.5 million
 
                                      12
<PAGE>
 
from the issuance of $200 million of 10 1/2% senior subordinated notes,
$100,000 from the issuance of 7 1/2% convertible subordinated notes to Boss
Investment, LLC, an affiliate of Apollo Management, L.P., and borrowings under
the Credit Facility.
 
  Interest on the senior subordinated notes in the amount of 10 1/2% will be
paid semi-annually on May 1 and November 1 of each year and the notes will
mature on May 1, 2009. The senior subordinated notes are unsecured and
guaranteed by our domestic subsidiaries and rank junior to the Credit
Facility.
 
  The Company may redeem the senior subordinated notes, in whole or in part,
at any time on or after May 1, 2002 at specified redemption prices, plus
accrued interest. At any time (which may be more than once) before May 1,
2002, the Company can redeem up to 35% of the outstanding senior subordinated
notes with money raised in one or more equity offerings under certain
circumstances. Upon a change of control of the company, the holders of the
senior subordinated notes will have the right to sell the notes to the Company
at 101% of the face amount plus accrued interest.
 
  Additionally, the indenture governing the senior subordinated notes contains
certain covenants that restrict, among other things, our ability to incur
indebtedness, pay dividends or repurchase capital stock, incur liens, sell or
otherwise dispose of a substantial portion of our assets or merge or
consolidate with another entity.
 
  The convertible subordinated notes will mature on May 1, 2012 and provide
for interest payments at a rate of 7.5% to be paid in additional convertible
subordinated notes or cash, at our election, for the first five years after
their issuance, and in cash thereafter. The holders of a majority of the
outstanding principal amount of the convertible subordinated notes, however,
will have the right to require the payment of interest in cash after the third
and through the fifth anniversary of the issuance of the convertible
subordinated notes. In addition, the provisions of the Credit Facility and the
indenture for the senior subordinated notes limit our ability to pay cash
interest payments.
 
  The convertible subordinated notes will be convertible into shares of our
common stock at an initial conversion price of $22.50 per share plus all
accrued and unpaid interest. Assuming conversion of the principal amount of
the convertible subordinated notes and assuming all interest is paid in cash,
Boss Investment will have the right to acquire upon conversion of 4,444,444
shares or 17% of the shares outstanding as of May 14, 1999. If the convertible
subordinated notes are converted prior to the fifth anniversary of their
issuance, the amount converted into shares will include additional interest
that would have accrued or been paid from the date of conversion through the
fifth anniversary of the issuance of the convertible subordinated notes.
However, unless the conversion is in connection with a change of control, the
additional interest will not exceed a total of 30 months of interest. We will
adjust the conversion price under certain circumstances, including the
issuance of shares at a price below the conversion price of the convertible
subordinated notes or below the then fair market value of a share.
 
  The indenture for the convertible subordinated notes limits our ability to,
among other things, incur additional indebtedness, pay dividends, repurchase
securities or repay certain other indebtedness. We have agreed to seek
stockholder approval of amendments to our restated certificate of
incorporation that would authorize the holders of the convertible subordinated
notes to vote together with the holders of shares on all of the matters
submitted to stockholders for a vote and to elect three of our directors (or,
if the Board has more than ten directors, no less than 30% of the directors).
The holders of the convertible subordinated notes will be entitled to cast the
number of votes that they would be entitled to cast if they had converted the
convertible subordinated notes into shares. If this amendment is not enacted
by July 25, 1999, the interest rate on the convertible subordinated notes will
increase to 12.5%, but will revert back to 7.5% after the amendment is
enacted.
 
   The Credit Facility consists of a $125.0 million term loan and a $225.0
million revolving credit facility, in each case maturing five years after the
date of the borrowing. The Credit Facility provides for certain mandatory
repayments of the outstanding indebtedness. As of May 14, 1999, the Company
had $158 million of availability under its Credit Facility.
 
                                      13
<PAGE>
 
  The credit facility bears interest at the sum of the (i) applicable margin
and (ii) at the option of the company, either the "base rate" or the
"eurodollar rate" (as defined in the credit facility). The base rate will be
the higher of (i) the rate that Bankers Trust Company announces from time to
time as its prime lending rate, as in effect from time to time, and (ii) 1/2
of 1% in excess of the overnight federal funds rate. The applicable margin
will be a percentage per annum equal to (i) in the case of term loans
maintained as (x) base rate loans, 2.00%, and (y) eurodollar rate loans,
3.00%, and (ii) in the case of revolving loans maintained as (x) base rate
loans, 1.50%, and (y) eurodollar rate loans, 2.50%, in each case subject to
step-downs to be determined based on certain levels of financial performance.
The company must also pay a commitment fee in the amount of 0.50% per year on
the daily average unused portion of the credit facility, subject to step-downs
based upon financial performance. In addition, the commitment fee percentage
will be increased by 0.25% at all times that the total unutilized commitments
under the revolving credit facility exceed 75% of the sum of (x) the total
revolving commitment then in effect plus (y) the aggregate outstanding
principal amount of the term loan. The credit facility will provide for
certain mandatory repayments of the outstanding indebtedness.
 
  The Credit Facility includes a number of significant covenants that impose
restrictions on us and our subsidiaries. These covenants include, among
others, restrictions on our ability to incur additional indebtedness and pay
the interest on Boss Investment's convertible subordinated notes in cash, and
restrictions on mergers, acquisitions and the disposition of assets, sale and
leaseback transactions and capital lease payments, dividends and other
distributions and voluntary prepayments of indebtedness. In addition, we are
required to comply with financial covenants with respect to minimum interest
coverage and maximum leverage ratios.
 
  The Company needs funds for general corporate purposes, including to pay
interest on the senior subordinated notes, the convertible subordinated
debenture and the Credit Facility, to pay contingent consideration required by
the terms of certain acquisition agreements and to make future acquisitions
and capital expenditures. We anticipate that our cash flow from operations and
borrowings available under the Credit Facility will be sufficient to meet
these liquidity requirements over the next twelve months.
 
                FLUCTUATIONS IN QUARTERLY RESULTS OF OPERATIONS
 
  Quarterly results may be materially affected by the timing of acquisitions,
the timing and magnitude of costs related to such acquisitions, variations in
services provided by the Company and the timing of these services, general
economic conditions. Moreover, the operating margins of companies acquired by
the Company may differ substantially from those of the Company, which could
contribute to the further fluctuation in its quarterly operations. Therefore,
results for any quarter are not necessarily indicative of the results that the
Company may achieve for any subsequent fiscal quarter or for a full fiscal
year.
 
                                   INFLATION
 
  The Company does not believe that inflation has had a material impact on its
results of operations during the three months ended March 31, 1999.
 
                                YEAR 2000 ISSUE
 
  The Year 2000 issue refers to a number of date-related problems that may
affect information technology and non-information technology systems,
including codes embedded in chips and other hardware devices. These problems
include systems that identify a year by two digits and not four so that a date
using "00" would be recognized as the year "1900" rather than "2000." This
could result in system failures, miscalculations or errors causing disruptions
of operations or other business problems, including, among others, a temporary
inability to process transactions, send invoices or engage in normal business
activities. The Year 2000 issue is a significant issue for most, if not all
companies, with far reaching implications, some of which cannot be anticipated
or predicted with any degree of certainty.
 
  State of Readiness. Since its IPO in December 1997, the Company has acquired
37 companies offering mechanical, electrical and janitorial services. The due
diligence relating to the Year 2000 issue that was performed on these
companies did not reveal any significant internal operating systems issues. In
addition, such due diligence revealed that most of the acquired companies have
addressed the Year 2000 issue, but are in different phases of assessment and
remediation. Accordingly, the Company is currently in the process of
 
                                      14
<PAGE>
 
completing a comprehensive survey to be completed by management of the
Company's operating subsidiaries to ensure that the Company's operating
subsidiaries are adequately addressing, or have adequately addressed, the Year
2000 issue.
 
  The survey mentioned above is expected to cover the following areas: (i) the
Company's information technology and operating systems, including job-costing,
billing, payroll and accounting systems; (ii) the Company's non-information
technology systems, such as buildings, plant, equipment and other
infrastructure systems that may contain embedded microcontroller technology;
(iii) the systems of its major vendors, insofar as they relate to the
Company's business; and (iv) the systems of its major customers for which the
Company has performed installation and maintenance services. This survey is
expected to be completed during the second quarter of 1999.
 
  Costs Related to the Year 2000 Issue. As part of the survey mentioned above,
the Company will be requesting an estimate from each operating subsidiary of
the material historical and estimated costs of assessment and remediation.
Accordingly, such costs, including, among other things, the costs of
assessment, software upgrade fees, hardware changes and general implementation
of a Year 2000 action plan, are not known at this time. The projected effort
for the majority of the systems is expected to include sending letters to
substantially all of the Company's significant hardware, software and other
equipment vendors, third party providers and other material service providers
requesting detailed, written information relating to Year 2000 compliance and,
where necessary, upgrades to recent vendor software releases that are fully
Year 2000 compliant.
 
  The Company is also embarking on an initiative to develop standard
information systems for use throughout the organization for its overall
information needs that will be free of any Year 2000 limitations. However, no
assurances can be made that such systems will be in place prior to the Year
2000.
 
  Contingency Plan. Until the Company completes the survey described above,
the Company will not be able to develop its most reasonably likely worst case
Year 2000 scenarios. The Company intends to complete its determination of
worst case scenarios after it has received and analyzed responses to the
survey and to all of the inquiries it has made to its vendors.
 
  Risks Related to the Year 2000 Issue. Although the Company's Year 2000
efforts are intended to minimize the adverse effects of the Year 2000 issue on
the Company's business and operations, the actual effects of the issue cannot
be known until the Year 2000. Due to the fact that the Company's operations
are primarily service oriented and are not heavily dependent on complex
information systems, the Company believes that non-information technology
systems (i.e. embedded technology such as microcontrollers) do not represent a
significant area of risk relative to Year 2000 readiness. In addition, the
Company's operations do not include capital intensive equipment with embedded
microcontrollers.
 
  However, failure by the Company or its major vendors and customers to
adequately address their respective Year 2000 issues generally in a timely
manner (insofar as they relate to the Company's business) could result in,
among other things, the Company's inability to obtain equipment that it is
obligated to install in a timely manner, reductions in the quality of
materials used in the Company's business, reductions, delays or cancellations
of customer projects, delays in payments by customers for services performed,
or a general inability to record, track and consummate business transactions.
Any or all of these events could have a material adverse effect on the
Company's business, results of operations and financial condition.
 
                   FACTORS AFFECTING THE COMPANY'S BUSINESS
 
  This Quarterly Report on Form 10-Q contains forward-looking statements that
involve risks and uncertainties. When used in this Report, the words
"anticipate," "believe," "estimate," "intend," "may," "will," "expect" and
similar expressions as they relate to the Company or its management are
intended to identify such forward-looking statements. The Company's actual
results, performance or achievements could differ materially from the results
expressed in, or implied by, these forward-looking statements. Factors that
could cause or contribute to such differences include those discussed under
the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the
year ended December 31, 1998 and in other public filings. The Company does not
undertake any obligation to revise these forward-looking statements to reflect
any future events or circumstances.
 
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
 
  Not applicable
 
 
                                      15
<PAGE>
 
                           PART II-OTHER INFORMATION
 
Item 2. Changes in Securities and Use of Proceeds.
 
  (i) Pursuant to Item 701(f) of Regulation S-K, the following information is
being furnished to disclose certain information regarding the uses of the
proceeds received by the Company in its IPO:
 
    (1) The Registration Statement for the IPO (File No. 333-36193) was
      declared effective on November 25, 1997.
 
    (2) The offering commenced on November 25, 1997 and terminated when all
      of the shares were sold in December 1997.
 
    (3) The managing underwriter was Friedman, Billings, Ramsey & Co., Inc.
 
    (4) In the IPO, the Company registered and sold an aggregate of
      27,850,000 shares of Common Stock, par value $.001 per share, and
      500,000 shares of Convertible Non-Voting Common Stock, par value
      $.001 per share, which is convertible into Common Stock.
 
    (5) The aggregate offering price of the shares sold was $567,000,000.
 
    (6) The following expenses were incurred in connection with the IPO:
 
<TABLE>
     <S>                                                            <C>
     Underwriting discounts and commissions........................ $38,640,000
     Expenses paid to or for underwriters..........................      60,000
     Accountants' fees.............................................     100,000
     Legal fees....................................................     315,000
     Printing expenses.............................................     255,000
     Miscellaneous filing fees and expense.........................     466,000
                                                                    -----------
                                                                    $39,836,000
                                                                    ===========
</TABLE>
 
      Except as described under "Certain Relationships and Related
    Transactions" in the Company's annual report on Form 10-K, the payments
    referred to above were not made directly or indirectly to officers,
    directors, general partners of the issuer or their associates, or to
    any person owning 10% or more of any class of securities of the issuer,
    or to any officers of the issuer and were not direct or indirect
    payments to others.
 
    (7)The net offering proceeds were approximately $527,000,000.
 
 
Item 5. Other Events
 
  Effective April 30, 1999, the Company's Board of Directors was expanded to
ten members and the three designees of Boss Investment, Andrew Africk, Michael
Gross and Brooks Newmark, were appointed to the Board of Directors. Also
effective April 30, 1999, David Ledecky and Thomas D. Heule resigned from the
Board of Directors.
 
Item 6. Exhibits and Reports on Form 8-K.
 
  (a) Exhibits
 
    10.1Termination Letter Agreement
 
    11.1Statement regarding computation of net income per share
 
    27Financial Data Schedule
 
  (b) Reports on Form 8-K. During the period covered by this report, the
Company filed the following Current Reports on Form 8-K:
 
 
                                      16
<PAGE>
 
    i. Form 8-K dated February 8, 1999 and filed with the Commission on
  February 10, 1999 reporting information under Items 5 and 7.
 
    ii. Form 8-K dated February 18, 1999 and filed with the Commission on
  February 18, 1999 reporting information under Items 5 and 7. The Company
  filed its restated consolidated financial statements for the years ended
  December 31, 1997 and 1996 and as of December 31, 1997 to reflect under the
  purchase method of accounting certain acquisitions previously accounted for
  under the pooling-of-interests method of accounting as a result of the
  Company's decision to repurchase shares of its common stock.
 
    iii. Form 8-K dated March 23, 1999 and filed with the Commission on
  March 23, 1999 reporting information under Items 5 and 7.
 
                                      17
<PAGE>
 
                                  SIGNATURES
 
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
 
                                          Building One Services Corporation
 
                                                      Joseph M. Ivey
May 17, 1999                              By:__________________________________
-----------
                                                      Joseph M. Ivey
  Date
                                                  Chief Executive Officer
 
 
                                                    Timothy C. Clayton
May 17, 1999                              By:__________________________________
-----------
                                                    Timothy C. Clayton
  Date
                                                  Chief Financial Officer
 
                                      18
<PAGE>
 
                                 EXHIBIT INDEX
 
<TABLE>
<CAPTION>
 No.                            Exhibit                             Page
 ---  -----------------------------------------------------------   ----
 <C>  <S>                                                           <C>
 10.1 Employment Agreement between David Ledecky and Building One
 11.1 Statement regarding computation of net income per share
 27   Financial Data Schedule
</TABLE>
 
                                       20