SOURCE: ZipRealty

April 23, 2008 14:27 ET

ZipRealty to Launch in Connecticut by Q3 2008

National Real Estate Brokerage to Operate in Five Connecticut Counties

EMERYVILLE, CA--(Marketwire - April 23, 2008) - ZipRealty (NASDAQ: ZIPR) (www.ziprealty.com), the largest online-based, full-service real estate brokerage in the U.S., announced today that it will expand to its twentieth U.S. state, beginning to serve buyers and sellers in Connecticut in the third quarter of this year. ZipRealty's planned coverage area includes Hartford, Tolland, Middlesex, New Haven and Litchfield counties.

ZipRealty's plans include opening an office in Hartford, as well as hiring a district director and local, licensed agents. As is true in each of the markets the brokerage operates in nationally, ZipRealty will offer clients in Connecticut all of the services of a traditional residential real estate brokerage coupled with exceptional online home search tools and high levels of customer service from local agents. In addition, the Company rebates buyers 20 percent of its commission and sells homes for up to 25 percent less than the typical market commission.

"We continue to expand our footprint across the Northeast, and we're excited to introduce our innovative approach to buyers and sellers in Connecticut," said ZipRealty President and Chief Executive Officer Patrick Lashinsky. "We're confident that the expertise of our local agents, combined with the features and tools offered on ZipRealty.com will benefit our clients in Hartford."

ZipRealty officially launched in New York State in 2007, and currently works with buyers and sellers in multiple New York City boroughs, on Long Island and in Westchester and Putnam counties. Nationally, the brokerage operates in 34 major markets in 19 states and the District of Columbia.

About ZipRealty

ZipRealty is a full-service residential real estate brokerage firm. The Company utilizes its user-friendly Web site and employee real estate agents to provide homebuyers and sellers with high-quality service and value. ZipRealty's Web site 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 34 major markets in 19 states and the District of Columbia. 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, without limitation, expanding to and beginning to serve customers in Connecticut in the third quarter of 2008, and our confidence that the expertise of local agents combined with our valuable online tools and features will continue to benefit clients. 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.

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