December 30, 2008 08:30 ET

ZipRealty Plans Expansion Into Portland, Oregon

ZipRealty to Work With Buyers and Sellers in Portland Metropolitan Area

EMERYVILLE, CA--(Marketwire - December 30, 2008) - ZipRealty (NASDAQ: ZIPR) (www.ziprealty.com), a national full-service real estate brokerage providing home buyers and sellers with high quality service and savings, announced today that it plans to begin operations in the Portland, Oregon market in early 2009. ZipRealty plans to offer service in parts of Multnomah, Washington, Yamhill, Clackamas, and Columbia counties in Oregon and Clark County in Washington.

ZipRealty plans to open an office in the Portland area, as well as hire a management team along with local, licensed agents. As is true for each market the company operates in nationally, ZipRealty offers clients round-the-clock access to comprehensive detailed information and photos for MLS-listed homes, advanced home search tools, community reviews and pricing sentiments and the very highest levels of customer service from local agents.

"ZipRealty's expansion in this market demonstrates our continued dedication to serving the many tech-savvy home buyers and sellers in the Portland area and expands our overall presence in the Pacific Northwest," said ZipRealty CEO Patrick Lashinsky. "Portland is a tremendous community with a vibrant downtown, and a diverse population of almost two million, making it a natural fit to expand ZipRealty's footprint."

ZipRealty has been serving home buyers and sellers across the country since 1999, including the Seattle, San Francisco Bay Area, Los Angeles, Orange County, Sacramento, Central Valley and San Diego regions on the West Coast. The company currently employs more than 2,800 employee-agents across the country.

Cautionary Language

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including, without limitation, our plan to expand our business into certain counties in the state of Oregon and Washington in early 2009. The forward-looking statements are subject to risks and uncertainties that could cause actual events to differ materially from those projected, including the risk factors set forth in our Form 10-K filed with the SEC for the fiscal year ended December 31, 2007 and other filings with the SEC including our quarterly Form 10-Qs and periodic Form 8-Ks. The forward-looking statements included in this release are made as of today's date and, except as otherwise required by law, we do not intend to update these forward-looking statements to reflect events or circumstances after the date hereof.

About ZipRealty

ZipRealty is a full-service residential real estate brokerage firm. The Company utilizes its user-friendly website and employee real estate agents to provide homebuyers and sellers with high-quality service and value. ZipRealty's website provides users with access to comprehensive local Multiple Listing Services home listings data, as well as other relevant market and neighborhood information. The Company's proprietary business management system and technology platform help to reduce costs, allowing the Company to pass on significant savings to consumers. Founded in 1999, the company operates in 35 major markets in 20 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.