In Turbulent Economic Climate Apartments.com Closes Record 2002, Anticipates Even Stronger Market Presence in 2003



  CHICAGO, January 13, 2003 - - Online real estate rental resource Apartments.com announced today that 2002 became its most successful year to date and 2003 looks to garner even greater results. In addition to attaining impressive traffic milestones - receiving its hundred-millionth visitor, one-billionth page view and sending its ten-millionth lead to advertisers - Apartments.com again demonstrated its position as an industry leader with the launch of a large localized advertising campaign and development of its comprehensive Apartments.com University program, which empowers its more than 10,500 customers with proven and innovative methods to convert Internet leads into signed leases.

In what can readily be described as a challenging economy, the burden of which falls heavily on the multi-family industry, Apartments.com has used its primary market differentiator - a 170-plus-strong network of newspaper Affiliates and their corresponding Web sites - as well as an experienced and dedicated sales force to help bolster sales and generate strong results for its growing customer base. According to Media Metrix, while many Internet Listing Services are decreasing their share of the online rental market, Apartments.com is dramatically increasing marketshare with a 42 percent rise in unique visitors from 2001 to 2002 (YTD November), which is 39 percent more growth than the nearest competitor being tracked in both years.

Apartments.com's loyalty to its customers is also evident in nearly 90 percent customer retention rates that are continually increasing and indicative of the company's commitment to service throughout the contract timeframe.

"I am exceptionally pleased with the performance of Apartments.com when it comes to bringing us quality leads and tailored customer service," said Patrick Smits, President, Walden Management. "They consistently provide a top-tier product with a return on investment that has strengthened our ability to fill vacancies at Walden communities in a very challenging market."

Nearly five years of dedicated focus on the multi-family industry has allowed Apartments.com to provide visitors searching for apartment homes a high-quality user experience specifically tailored to their living needs. The highly visual nature of the site, updated daily and showcased in 360-degree virtual tours and an average of 40 pictures per listing, combined with comprehensive community details, make it possible for in-market renters to access rental inventory from across town or across the country and make informed decisions quickly. The level and quality of information available has resulted in a reliable number of leads that readily convert into leases for Apartments.com advertisers.

"We could not be more pleased with the continued growth and development of Apartments.com," said vice president and general manager Tim Fagan. "We continue to build upon the solid foundations laid in 1998, providing qualified leads to our advertisers, fortifying our extensive Affiliate network and positioning Apartments.com as the top-of-mind resource to both consumer and trade audiences.

About Apartments.com
Apartments.com is a leading national online apartment resource distinguished by its personalized searches, highly visual ads and partnership with the local newspaper and television station Web sites of more than 170 affiliates across the country, including the Chicago Tribune (www.chicagotribune.com), The Washington Post (www.washingtonpost.com) and Los Angeles Times (www.latimes.com). Apartments.com, a division of Chicago-based Classified Ventures, LLC, delivers highly qualified, ready-to-rent prospects to its more than 10,500 trade customers, which increases closure rates and decreases the average cost of leasing an apartment.