Condo.com is the leading online portal and marketplace for condominiums. With over 500,000 condo listings valued at over $130 billion, Condo.com provides buyers with a superset of all available condos from around the world. The Company is also a valuable advertising channel that cost-effectively delivers exposure to developers, brokers and other sellers through the seamless distribution of its listings to a global network of real estate websites visited by over 15 million viewers per month. In January 2008, over 10,000 leads were generated by site visitors interested in buying or renting condos with over 55,000 total hours spent on the site. The site is top-ranked for all condo-related keywords on Google, Yahoo! and MSN.

The National Association of Realtors (“NAR”) has reported that over 85% of buyers start their real estate search online and 24% of buyers purchase homes they first saw online before ever contacting an agent. Reflecting this consumer behavior, online advertising expenditures for real estate have grown from $396 million in 2001 to over $2 billion in 2006 and are projected to reach $3 billion by 2010 according to Borrell & Associates.

The next five years will have the greatest volume of condo buying, selling, and renting activity in the history of real estate. Domestic and international supply will continue to expand at an unprecedented rate. As the baby boomer generation enters retirement, this large and powerful demographic group is expected to purchase condos as primary and secondary residences at much higher than historical rates. In addition, many fractured markets are also developing where rampant speculation by developers and investors has led to a current oversupply of condos in many cities. With the next buying wave on the horizon, Condo.com provides a valuable marketing platform for banks and brokers promoting bulk condo sales, auctioneers seeking opportunistic buyers and lenders looking to provide financing. A strong online presence is essential for all market participants.

Harnessing the power of the internet and a propriety data distribution network, the Company maintains real-time syndication to 16 domestic and 8 international partners. This syndication provides Condo.com advertisers with exposure on the leading real estate sites around the world, with no additional cost or data entry. Searching, mapping, rich-media content and targeted ad serving on the site are tailored to the condo marketplace and are unique within the online real estate industry. The Company was founded in 2005 by Richard Swerdlow as US Condo Exchange and was rebranded to Condo.com in mid-2007. Condo.com is a privately held company headquartered in Coconut Grove, Florida and has a core team of 20 employees.