HomeSeekers.com Reports Sequential Quarterly Revenue Growth of 59%, Record Gross Profits and Website Traffic

Business Wire, May 15, 2000

Countrywide Home Loans

HomeSeekers.com entered into an agreement with Countrywide Home Loans, Inc. to market HomeSeekers.com web-enabling services through Countrywide's network of nationwide offices. The two companies expect to host up to 1,000 seminars per year over the next three years. By combining the breadth of Countrywide's agent relationships with the strength of HomeSeekers.com's technology and branding solutions, the ability to reach the target market of real estate professionals is projected to increase significantly.

ORPI of France

HomeSeekers.com, in partnership with ORPI, has established the first multiple listing service in France. ORPI is the largest real estate sales organization in France and manages over 800 offices employing over 9,000 real estate professionals throughout the country. The agreement between the two organizations allows for the creation of the first Multiple Listing Service in France using HomeSeekers.com's proprietary XMLSweb(R) technology combined with ORPI's real estate database. The relationship also calls for the establishment of a consumer portal for French listings, accessible through www.homeseekersfrance.com. In addition, HomeSeekers.com has developed ORPI's corporate website, www.ORPI.com.

Brand Extension

HomeSeekers.com entered into its first in a planned series of brand extensions by announcing an alliance between its ninety-two percent-owned subsidiary ForeclosureSeekers.com, LLC and RealtyTrac.com. The combination of ForeclosureSeekers.com's extensive home buying audience with the comprehensive foreclosure data from RealtyTrac.com is projected to create the largest most complete, time-sensitive online data inventory of foreclosed properties, which will be available to consumers on a fee basis.

Trump Site Goes Online

As previously announced, HomeSeekers.com was selected to develop a full Internet-based solution for the Trump Corporation. The Trump site came on line in the quarter and can be found at www.trumponline.com. The solutions designed for The Trump Corporation is an example of the strength of HomeSeekers.com's site development capabilities, which has been a key in developing relationships with brokers and large-scale real estate companies.

Homeseekers Magazines Acquisition

The acquisition of Homeseekers Magazines, Inc. (HMI) was finalized in this quarter. HMI was a privately held real estate magazine company. The operations that were acquired serve markets in Washington, Idaho and Montana. HMI has historically maintained a customer base of over 10,000 real estate professionals.

Five Major XMLSweb Technology Contracts Signed

In the quarter, HomeSeekers.com signed five multi-year technology agreements to utilize its XMLSweb(R) product, with some of the nation's top MLS organizations. The agreements are with the Southern California (SoCal) MLS; The Greater New Jersey MLS of Southern New Jersey; RealMatrix of Eastern Michigan; MLS of Naples, Florida; and St. Petersburg, Florida Suncoast Association of Realtors.