Rebates Help Ease Costs of Moving, Spent on Closing Costs, Furniture and Bills

Because of its efficient business model, which blends valuable, online homesearch tools with a high level of customer service from local and licensedagents, ZipRealty can pass savings onto clients without sacrificingtop-notch service. In markets where permitted by law, the Company rebatesup to 20 percent of its commission in cash to buyers at closing. Inaddition, more than 95 percent of its clients indicate they're "satisfied"or "completely satisfied" with ZipRealty's service.

Who's Getting the Rebate

Of the 34 markets in which the company currently operates, ZipRealty buyersin the following cities have received the most in rebates from ZipRealty:

--  San Francisco/Bay Area         $22.5 million--  Los Angeles                    $12 million--  Boston                         $10 million--  Seattle                        $7 million--  Phoenix                        $7 million    

ZipRealty has also rebated more than $48 million to buyers across all ofits California markets, which includes San Diego, Sacramento, OrangeCounty, Bakersfield and the Inland Empire.

"Giving $100 million back to our buyers is an unparalleled milestone forthe real estate industry, and indicates that our full-service,non-traditional business model works for today's buyers and sellers," saidPatrick Lashinsky, President and CEO of ZipRealty. "What's most impressiveis that we've maintained a customer satisfaction rating that's well abovethe industry average at the same time."

How They're Spending It

In April, ZipRealty polled its past buyers to determine how they spenttheir rebate check. While 26 percent of buyers who responded to the surveyused their rebate to cover closing costs and moving expenses, other buyerstook a different approach:

--  27 percent used it to buy extras, like furniture, decorating, home    theaters, new appliances and renovations--  18 percent used it to pay bills--  11 percent put it into savings    

About ZipRealty

ZipRealty is a full-service residential real estate brokerage firm. TheCompany utilizes its user-friendly Web site and employee real estate agentsto provide homebuyers and sellers with high-quality service and value.ZipRealty's Web site provides users with access to comprehensive localMultiple Listing Services home listings data, as well as other relevantmarket and neighborhood information. The Company's proprietary businessmanagement system and technology platform help to reduce costs, allowingthe Company to pass on significant savings to consumers. Founded in 1999,the company operates in 34 major markets in 19 states and the District ofColumbia. For more information on ZipRealty, visit www.ziprealty.com orcall 1-800-CALL-ZIP.

Cautionary Language

This release contains forward-looking statements within the meaning of the"safe harbor" provisions of the federal securities laws, including, withoutlimitation, that our full-service, non-traditional business model works fortoday's buyers and sellers. The forward-looking statements are subject torisks and uncertainties that could cause actual events to differ materiallyfrom those projected, including the risk factors set forth in our Form 10-Kfiled with the SEC for the fiscal year ended December 31, 2007 and otherfilings with the SEC including our quarterly Form 10-Qs and periodic Form8-Ks. The forward-looking statements included in this release are made asof today's date and, except as otherwise required by law, we do not intendto update these forward-looking statements to reflect events orcircumstances after the date hereof.