America Online and REALTOR.COM Sign Agreement to Offer Comprehensive, Nationwide Real Estate Listings

April 23, 1998

Dulles, VA and Westlake, CA -- April 23, 1998 - AOL Interactive Services, the Internet online services division of America Online, Inc. [NYSE: AOL], and REALTOR.COM, the market-leading online real estate site and a premier online aggregator of classified home listings, announced today a relationship to make REALTOR.COM the exclusive provider of existing home listings on the AOL service, as well as on AOL.COM, AOL's Website and the number one consumer site on the World Wide Web, and on AOL's Digital City, the nation's largest locally-focused online network. This agreement will bring REALTOR.COM's more than 1 million home listings -- the largest collection of up-to-date property listings on the Internet -- to AOL members and users of AOL.COM and Digital City through an AOL-REALTOR.COM co-branded site. AOL will receive guaranteed minimum payments of $14 million over the 40-month term of the agreement, and will also share in advertising and transaction revenues. Links to REALTOR.COM's home listings will be available in AOL's newly-launched Real Estate Center, AOL Classifieds areas on both the AOL service and on AOL.COM, and the Digital City Real Estate areas. Through the AOL-REALTOR.COM co-branded site, AOL members and users of AOL.COM and Digital City will be able to conduct customized searches, making the hunt for their dream house in any part of the country easier than ever before. Once an AOL member finds a house that interests them, they can then directly contact the realtor handling the property to view it firsthand. Listings on REALTOR.COM include a comprehensive array of details about the property, including location, square footage, number of bedrooms, etc., as well as asking price and detailed maps of where the house is located. "REALTOR.COM is a comprehensive and powerful force in the online real estate world, and having easy access to its over one million listings will be a real benefit for AOL members as well as AOL.COM and Digital City users," said Barry Schuler, President, AOL Interactive Services. "Online real estate services like REALTOR.COM are a great example of a challenging activity made easier through the magic of online." "We're delighted to be a part of AOL's thriving online community," said Stuart Wolff, CEO of RealSelect. "Anyone who has ever been house-hunting knows how complicated the process can be. Now AOL members and real estate agents across the country can draw on the powerful resources of REALTOR.COM to make finding the perfect home quicker and easier than ever before." Launched in March, the AOL Real Estate Center contains many of the most respected names in the real estate, mortgage and loan industries. The Real Estate Center offers members top-notch information in one convenient place. It is comprised of five categories, Looking, Selling, Renting, Moving, and Financing, to quickly give AOL members easy and direct access to loan information, financial calculators, and over a million home listings, among other resources.

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