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PRESS RELEASE RELEASE DATE: OCTOBER 7, 1999 For Further Information Contact: Edward How, 703/293/1413 U.S. Inspect Enters Distribution Agreement With iOwn FAIRFAX, VA - U.S. Inspect, Inc. today announced that it has entered into a distribution agreement with iOwn, Inc. to promote and advertise each other's web sites, products, services and content under a co-branded placement program. Under the agreement, U.S. Inspect will launch an Inspection Co-Branded Site and iOwn will launch a Mortgage Co-Branded Site. The respective Internet sites will allow consumers to freely link between the U.S. Inspect and iOwn web sites to access vital home-buying information, including RateShopper and Afford calculators, closing cost and RateWatch tools, and a House Facts™ technical glossary. iOwn is a leading one-stop resource for homes and low-cost loans online. Through onsite content, customized tools and experienced Loan Consultants, iOwn simplifies home financing and ownership, while passing on significant financial savings to consumers. The iOwn website, www.iown.com, allows consumers to shop and compare rates, search for a home from a large selection of current home listings, access recent home sale prices, prequalify, preapprove, apply for their mortgage and then track the progress of their loan online. Consumers also have access to a wide variety of services related to buying and owning a home through iOwn's Resource Center, including insurance, moving, home improvement and neighborhood information. "When consumers visit iOwn.com looking for low-cost loans online, our intent is to provide them with information and services on nearly all aspects of homeownership," said Ned Hoyt, Chief Executive Officer of iOwn. "Home inspections are a critical part of the home-buying process, and U.S. Inspect is one of the premier names in the home inspection marketplace. This agreement has allowed us to fill in another important piece of the puzzle." "We encourage iOwn.com visitors to take advantage of the direct link to U.S. Inspect," Hoyt added. "The U.S. Inspect web site has very helpful and informative content and U.S. Inspect has a sterling reputation for delivering excellent service to consumers." U.S. Inspect Chairman and Chief Executive Officer Keith S. Fimian said the agreement clearly establishes U.S. Inspect as the home inspection industry front-runner in e-commerce communication and marketing. "To be certain, our web site distinguishes us from the crowd," Fimian said. "It's a tool that helps consumers understand the home inspection process before they shop for services. This is consistent with the iOwn philosophy of empowering consumers with the information they need to make intelligent purchasing decisions." Michael J. Murphy, U.S. Inspect Vice President of Sales & Marketing, said that while the U.S. Inspect web site is the initial hook for consumers, excellent service and responsiveness is the key to the company's successful e-commerce strategy. "An informative, robust and entertaining web site is no substitute for good old fashioned hard work in the field," Murphy said. "For U.S. Inspect, that means responding quickly to consumer needs in the time-sensitive real estate marketplace with professional consultants who can provide the kind of clear and concise guidance that brings peace of mind and confidence into the home buying process." iOwn, Inc. (www.iOwn.com) was founded in October 1996 as HomeShark Inc., and has its headquarters in San Francisco, Calif., with a customer service center in Martinez, Calif. * * * * * * * * * * * * * * U.S. Inspect, Inc. is the nation's leading provider of inspection services. The company operates in three principal segments -- Residential Retail, Corporate Relocation, and Community & Commercial Services - providing customers and clients with nationwide coverage for more than 50 inspection types, including general home, termite, radon, structural, private well and septic systems, pool/hot tub, replacement reserve studies and other specialty inspection services. The U.S. Inspect network is comprised of more than 6,000 employee field consultants and independent supplier contractors who possess the kind of on-site professionalism and technical proficiency sought by homebuyers and sellers, corporate relocation professionals, community and planned unit development professionals, and commercial property owners in communities throughout the country. From headquarter offices in the suburbs of Washington, D.C., U.S. Inspect annually produces more than 100,000 inspection reports for clients involved in all facets of the real estate business. The inspection services company of choice for corporate America, U.S. Inspect counts Cendant Corporation, Cendant Mobility Services, Century 21, Coldwell Banker, ERA, Prudential Real Estate & Relocation, Relocation Resources International, Resort Condominiums International (RCI), RE/MAX International and Weichert among its clients and strategic partners.
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