Apartments.com Visitors Take Action

Apartment Rental Site Increases Conversion of Users into Leads

April 19, 2001 --Chicago --Apartments.com (http://www.apartments.com), a national online apartment resource, announced today that, in March, one out of every ten visitors to the site resulted in leads to properties advertising on Apartments.com. Additionally, according to Media Metrix report data since March of 2000, every month each visitor to Apartments.com views an average of 26 percent more site pages featuring property listings than they do on any other Web site in the residential rental real estate category.

Apartments.com is consistently sending quality lease leads to site advertisers, sustaining a national average of 35-40 leads per property per month and a national average cost per lead of $4.00 - $5.00 on premium packages. A 10 percent conversion of visitors to leads keeps Apartments.com delivering on the core value proposition of the site. Apartments.com expects this high rate of consumer action to continue due in part to the promotional power of its affiliate network of more than 150 newspapers as well as the superior property showcases that cause site visitors to take action and send leads.

Apartments.com's four years of focus on the multi-family industry has produced the highest-quality user experience paired with a detailed, visual listing pool, updated daily, to which consumers rapidly respond. The comprehensive information and in-depth visual nature of each property's listings on Apartments.com generates the extraordinarily high volume of page views per visitor and the resulting quantity of response rates and leads. Apartments.com's supplemental training programs, led by Apartments.com professional training consultants, have further empowered advertisers to convert Internet prospects into signed leases.

"Apartments.com sends us more qualified leads than any other online service," said Cassandra Mickelson, marketing manager, The Regent Apartments, Madison, Wisconsin. "In fact, we convert 20-30% of our Apartments.com leads into leases. I am very pleased with this service."

"Apartments.com has been vital to our success. We have virtually eliminated all print advertising and rely on Apartments.com for most of our leads," said Daniel Wayne, owner, Real Property Services. "In fact, so far this month our properties have received as much as 81% more leads from Apartments.com than from the closest competitor. They've definitely got the edge over the other services and we use all of them."

"Apartments.com has always supported the most visual online advertisements, comprehensive listings information and decision-assistance tools, and consumers are responding accordingly," said Tim Fagan, vice president and general manager of Apartments.com. "We expect that Apartments.com advertisers will continue to see an increase in leads and leases as our focus remains on servicing the rental industry while creating an unparalleled site experience for the consumer."

About Apartments.com
Apartments.com is distinguished by its highly customizable searches, superior visual ads, and its facilitation of direct communication between renters and property managers across the country. In addition to a network of more than 150 affiliated newspapers and nearly 3 million apartment listings from all 50 states, Apartments.com offers the MovingCenter where users can research community information, arrange truck and furniture rentals, calculate their salary in different cities, instantly check their credit report, change their address and more.

Apartments.com, owned by Chicago-based Classified Ventures, Inc., delivers highly qualified, ready-to-rent prospects to its nearly 8,000 trade customers, which increases closure rates and decreases the average cost of leasing an apartment. Six strategic investors own Classified Ventures, Inc.: Gannett Co., Inc., Knight Ridder, The McClatchy Company, The New York Times Company, Tribune Company and The Washington Post Company.