Realtor.com and NRT Incorporated Extend Comprehensive Online Marketing Agreement for Two Additional Years

Business Wire, March 22, 2006

WESTLAKE VILLAGE, Calif. -- Realtor.com, the official Web site of the National Association of Realtors, has extended its marketing agreement with NRT Incorporated, which substantially enhances the presence of NRT's local operating companies on Realtor.com, for an additional two years. NRT, a subsidiary of Cendant Corporation (NYSE:CD), owns and operates premier residential real estate brokerage companies in more than 35 major metropolitan markets in the United States and the United Kingdom under the banner of the Coldwell Banker(R), ERA(R) and Sotheby's International Realty(R) brands, as well as The Corcoran Group and The Sunshine Group.

The extension agreement ensures that all of NRT's listings will be enhanced through March 2008 and surrenders a portion of the previously committed Realtor.com display advertising inventory, including inventory in markets that have been sold out, for resale to other customers. The Company will recognize a minimum of $24.7 million in revenue over the new two-year term. The extension agreement also calls for NRT to partner with Realtor.com in the sale of Realtor.com's marketing solutions by sponsoring and hosting events for NRT's agents.

The extension of the marketing agreement comes at the end of a one-year agreement that was entered into in February 2005. At that time, NRT agreed to enhance all of their listings on Realtor.com and to utilize a significant amount of Realtor.com's display advertising inventory. NRT also secured two one-year renewal options at fixed prices. Had each of the options been exercised, the total value of the original agreement would have been at least $38 million over three years.

"We are pleased that NRT has decided to commit now to this marketing program through March 2008," said Allan Dalton, chief executive officer and president of Realtor.com. "By extending our marketing agreement with NRT, we will continue to allow millions of prospective home buyers to enjoy access to NRT's enhanced listings on Realtor.com, while enabling NRT to offer their clients the benefits associated with a comprehensive online marketing system."

Homestore's total revenue associated with the initial one-year agreement and the newly-signed extension agreement will be above 90 percent of the potential revenue associated with the initial agreement announced last year, while committing a smaller share of Realtor.com's display advertising inventory, eliminating any contract renewal risk in 2007, and engaging NRT to assist in the marketing of additional Realtor.com marketing solutions directly to their agents.

Yesterday, Homestore filed with the SEC a report on Form 8-K that briefly describes the material terms and conditions of the extension agreement. On the Net: http://ir.homestore.com.

ABOUT REALTOR.COM(R)

REALTOR.com(R), "Where the world shops for real estate online(TM)," is the official Web site of the National Association of REALTORS(R). Ranked as the No. 1 homes-for-sale site, REALTOR.com(R) currently offers potential home buyers access to more than two million property listings, as well as the most brokers and agents to contact. The site also provides REALTORS(R) and the home sellers they represent with the Internet's largest real estate marketplace, reaching more than six million consumers in January 2006(a).

Agents and companies have the power to customize the resources of the REALTOR.com(R) Web site to maximize their brand and productivity. The REALTOR.com(R) Web site (www.realtor.com) is operated by Homestore, Inc. d/b/a Move (Nasdaq:HOMS).

REALTOR(R) and REALTOR.com(R) are registered trademarks of the NATIONAL ASSOCIATION OF REALTORS(R). REALTOR(R) is a federally registered collective membership mark, which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS(R) and subscribes to its strict Code of Ethics.

(a) comScore Media Metrix, January 2006