SOURCE: ZipRealty

June 21, 2005 07:00 ET

ZipRealty CEO Eric Danziger Wins Northern California Ernst and Young Entrepreneur of the Year® Award

Danziger Selected for Prestigious Award Whose Past Winners Have Included eBay's Pierre Omidyar and Former Yahoo! CEO Tim Koogle

EMERYVILLE, CA -- (MARKET WIRE) -- June 21, 2005 -- ZipRealty (NASDAQ: ZIPR) announced today its President and Chief Executive Officer, Eric Danziger, was honored as a Northern California Ernst and Young (E&Y) Entrepreneur of the Year® for 2005 in an awards ceremony at San Francisco's Fairmont Hotel Friday, June 17.

A panel of independent judges selected Danziger out of all finalists in the category of Real Estate/Hospitality/Construction. As a Northern California Entrepreneur of the Year, Danziger is eligible for consideration for the national Ernst and Young Entrepreneur of the Year® 2005 Award, whose winner will be announced in Palm Springs, California, in November 2005. He also joins a prestigious list of past Northern California E&Y winners including eBay Chairman Pierre Omidyar and Yahoo! co-founder Jerry Yang, along with former national winners such as Amazon founder Jeff Bezos and Starbuck's Howard Schultz.

Danziger has served as the President and Chief Executive Officer of ZipRealty, a full service residential real estate brokerage, since June 2001. He has been featured in outlets such as CNN, Bloomberg and The Wall Street Journal and began his career in the hospitality industry, serving as the CEO of Starwood Hotels and Carlson Hotels Worldwide before joining ZipRealty. Over the past four years, Danziger has led the full-service brokerage as it grew from 60 agents to over 1100 agents serving 14 major metropolitan markets. He also led the company through its successful IPO in late 2004 and expanded into two new markets this year in Houston and Las Vegas.

"I feel honored that this Ernst & Young award puts me in the company of some of the world's most innovative and successful entrepreneurs," said Danziger. "This is an incredible highlight in a turning-point year for ZipRealty, now a publicly traded company moving into new markets. We are at the forefront of a changing industry, and as CEO, I will continue to spread our vision, which is to raise the standard and level of customer experience in the real estate industry."

The Ernst and Young Entrepreneur of the Year® award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program, sponsored by professional services firm Ernst and Young LLP, honors entrepreneurs through regional, national and global award programs in over 100 cities and 35 countries.

About ZipRealty

ZipRealty is a full-service residential real estate brokerage firm. The Company uses the Internet, proprietary technology and efficient business processes to provide home buyers and sellers with high-quality service and value. Founded in 1999, the company operates in 14 major metropolitan areas in ten states and the District of Columbia. The Company's client-centric business strategy utilizes a sophisticated web site, which enables home buyers and sellers to access comprehensive local Multiple Listing Services home listings data and other relevant information. The Company also utilizes a proprietary business management technology platform, which reduces costs and allows the Company to pass on significant financial savings to consumers. This Internet-enabled, technology-driven, employee-based model provides the Company with a distinct competitive advantage, allowing ZipRealty to consistently deliver outstanding service to clients. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

Cautionary Language

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including the Company's growth in new markets and future customer experiences. The forward-looking statements are subject to risks and uncertainties that could cause actual events to differ materially from those projected, such as market conditions, the Company's execution of its business model, and other risk factors set forth in the Form 10-Q filed with the SEC by the Company for its fiscal quarter ended March 31, 2005. ZipRealty assumes no obligation to update the forward-looking statements included in this release.

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