Apartments.com Redesigns Site, Adds Online Coupons to Help Multifamily Property Managers Track Success of Internet Advertising

Strengthens Commitment to Provide Tools to Property Managers to Calculate Return on Investment


CHICAGOMarch 17, 2000—National online apartment guide Apartments.com (www.apartments.com) today unveiled a new version of its Web site with improved design and navigation that includes online coupons for improved tracking of the walk-in leads it generates for property managers. Apartments.com is exhibiting its new site at the annual Multi-Housing World Expo in Las Vegas this week.

Apartments.com records and reports on the number of leads sent from its site to property managers by e-mail, fax and toll-free phone number, and has added online coupons as its latest tool to measure the volume of foot traffic sent to advertisers' leasing offices from their ads on Apartments.com.

Up to this point, calculating the number of walk-in leads generated by the Internet has typically been challenging because of the lack of evidence directly linking the prospective renter to an online ad. Property managers who advertise on Apartments.com can now include a coupon featuring a discount or promotion that users can print out and bring with them to the leasing office for redemption. In addition to serving as an incentive to rent, the coupon also provides an easy and efficient means of linking the lead back to Apartments.com. The cost of including an online coupon is $15 week or $50 per month.

"We developed online coupons to generate more leads and better quantify the value we are delivering to property managers," said Matt Wise, vice president and general manager for the real estate division of Classified Ventures, Inc., the company that owns Apartments.com. "While no other mass medium offers the combination of effectiveness and affordability of the Internet, we're committed to taking the lead in responding to property managers who have asked for additional tools to help them more accurately calculate their return on investment from advertising on Apartments.com."

"Over the past two months, we have rented five apartments from leads sent to us from Apartments.com," said Tim Wunch, property manager of Park Glen Apartments, a Lincoln Property Company in St. Louis Park, Minn., "which translates to a cost per lease nearly ten times less than what we would have spent using traditional sources. By far, Apartments.com beats all the other national rental sites for the quality of its ads and its leads."

About Apartments.com
Apartments.com is a leading national online apartment guide distinguished by its personalized searches, highly visual ads and affiliation with the local web sites of top newspapers across the country, including the Chicago Tribune, Washington Post, Los Angeles Times and The New York Times. It currently represents about two million apartments in all fifty states and Washington, D.C.

Apartments.com is owned by Classified Ventures, Inc. Based in Chicago, Classified Ventures was created by eight of the largest media companies in the U.S.: Gannett Co., Times Mirror Company, Central Newspapers, Inc., Knight Ridder, The McClatchy Company, The New York Times Company, Tribune Company and the Washington Post Company. Classified Ventures provides nationally branded online services for the developing e-commerce opportunities in the classified advertising market place that build upon the capabilities and local expertise of a national affiliate network of more than 130 newspapers. The company currently operates the national Web sites Apartments.comT,www.apartments.com, Auctions.comT, cars.comT,www.cars.com, MovingCenterT, www.movingcenter.com and NewHomeNetwork.comT, www.newhomenetwork.com. Classified Ventures also operates HomeHunterT, a local resale real estate service. For more information on Classified Ventures, visit www.classifiedventures.com.