ForSaleByOwner.com Launches Spin-Off

Allowing Car Buyers and Sellers to Connect Online

Cars.ForSaleByOwner.com Is First of Planned Expansions in 2004

http://cars.forsalebyowner.com

NEW YORK, Jan. 15 -- Building on its wildly popular formula for cutting out the middleman in real estate, ForSaleByOwner.com is launching an online auto marketplace that connects car buyers and sellers.

The new site, Cars.ForSaleByOwner.com, will provide listings for both new and used cars, trucks and motorcycles. An independent Web destination, the auto spinoff will let consumers search for vehicles by location, price, make, model and year. Shoppers will also get free access to auto values, insurance, financing and warranty company rates.

ForSaleByOwner.com is committed to helping consumers reduce the transaction costs associated with buying and selling big-ticket items by connecting buyers and sellers online. America's leading resource for independent home sales since 1997, ForSaleByOwner.com has created a marketplace for cars and homes that offers aggregated information, resources, and research in one location.

"The response to our real-estate services has been completely overwhelming, so it makes sense for us to give consumers the power to buy and sell independently on other big-ticket purchases," said Colby Sambrotto, COO of ForSaleByOwner.com. "Cars are a natural extension of our core business."

Sambrotto also said that the company would be looking to expand into other "big-ticket" categories 2004.

Along with Cars.ForSaleByOwner.com's range of resources, customers will have access to comprehensive vehicle history reports, which will include detailed information for each vehicle's accident reports, service history and more.

Cars.ForSaleByOwner.com currently lists over 30,000 vehicles, which were posted during the site's beta testing period. According to a CNW Marketing research survey, 30 percent of the 42.6 million used cars that changed hands in the United States last year were bought using the Internet.

One of the fastest-growing sites on the Internet, ForSaleByOwner.com saw its traffic grow by nearly 100% in 2003. The company, which is currently rolling out a national advertising and marketing campaign, also increased revenues over 150% in the last year.

About ForSaleByOwner.com

ForSaleByOwner.com is America's leading no-commission marketplace, bringing buyers and sellers together online. Since 1997, ForSaleByOwner.com has saved consumers billions of dollars by cutting out the middleman and giving people the freedom to sell their homes and cars without a transaction fee.

Independent sellers can find resources for real estate listings on ForSaleByOwner.com, auto listings on Cars.ForSaleByOwner.com, and applications for discount mortgage and refinancing services on YourLoanHelper.com. One of the fastest growing companies on the internet, ForSaleByOwner.com saw traffic to its real-estate site grow by 100% in 2003.