LoopNet Activity Grows Over 300% In Last Two Months

[Neal Aronson]

San Francisco, Calif. (March 3, 1998)—LoopNet (www.loopnet.com),
the Internet’s largest commercial real estate listing service, announced
today that the amount of properties added to its website each day has
grown by over 300% since the beginning of the year. At this time, over
$90 million of property listings for sale and over 1.75 million square feet
of property listings for lease are added to LoopNet every day.

“The growth rate of our listing base over the last year has been driven
by the addition of several large commercial real estate organizations
such as Grubb & Ellis, Colliers International, RE/MAX International,
Prudential, SIOR, The Commercial Network, CORFAC, FIABCI, and
numerous CCIM and Commercial Association of REALTORS chapters,”
said LoopNet President Dennis DeAndre. “We hope that we have
differentiated ourselves from other listing services through the timeliness
of data, the number of listings and the volume of traffic.”

As a result of the 45 new members joining LoopNet every day, LoopNet’s
member base has grown 25% to over 10,000 members during this same
two-month period. With this increase, comes a more diverse membership
roll, which now includes retailers, REITs, and financial services
professionals. The recent addition of Grubb & Ellis and its
4,000 professionals and staff has expanded LoopNet’s reach to
over 40,000 professionals in 43 participating organizations.

“I just want to go on record that this is the best thing since ice cream.
[LoopNet has] a tremendous site and I am going to do
everything in my power to use it to its fullest extent," said Lantz Powell,
of The Macerich Company.

“Over 30,000 properties are viewed on LoopNet every day,” said DeAndre.
“Our members have given LoopNet the highest traffic level of any commercial
real estate site on the Internet, to the best of our knowledge.”

"I received 17 responses in 4 days to my only listing,” said Jonathan Eborn
of ERA National Commercial in Salt Lake City, UT. “Amazing response...
I'm sold, and so is my $14 million apartment complex."

LoopNet is free for professionals to add listings and to search the
available inventory. Listings are generated interactively by users
and are comprised of site, financial and operating information,
as well as photos, and area maps.

CONTACT: Neal Aronson, Loop Ventures, 650.685.9526, naro...@loopnet.com