IBIDCO TO OFFER MARKETING SERVICES FOR BUILDER HOMESITE AND EBAY REAL ESTATES NEW HOMES MARKETPLACE

Builders can now take advantage of high-touch marketing services or a live-auction with simulcast from iBidCo. This release details this new offering.

IBIDCO TO OFFER MARKETING SERVICES FOR BUILDER HOMESITE AND EBAY REAL ESTATES NEW HOMES MARKETPLACE

Builders can now take advantage of high-touch marketing services or a live-auction with simulcast from iBidCo

Oakland, CA, July 1, 2002 – iBidCo, the leading national provider of online and live sales events for the new home industry, today announced that they will offer additional marketing and live-auction services to builders within eBays new homes marketplace developed by Builder Homesite, Inc. and eBay Real Estate. iBidCo will help create a more robust auction-event experience for these builders through its Premium Online Sales Event and Live Sales Event with Webcast products.

Chris Albrick, iBidCo president and chief executive officer said, By adding our proven services to the successful formula created by eBay Real Estate and Builder Homesite, we are helping builders realize the potential of combined online and live sales events as powerful new marketing initiatives."    

Premium Online Sales Event is a high-touch marketing service that provides builders with additional, proactive marketing measures, including a marketing consultation, telemarketing, onsite displays, buyer training and more. Live Sales Event with Webcast is a live offline auction hosted by iBidCo that is simulcast with eBays online auction event. These products and services will be available in addition to basic services that eBay Real Estate and Builder Homesite, Inc. already provide to participating builders.
Our overall goal is to help builders sell their properties faster and more efficiently," noted Tim Costello, chairman and chief executive officer of Builder Homesite, Inc. By leveraging iBidCos proven marketing services and their ability to conduct live auctions with the new homes platform on eBay, we are increasing the value proposition for builders, and enriching the overall buying experience for consumers."

eBay Real Estate and Builder Homesite, Inc. conducted the first-ever auction-style event on eBay for new homes June 15th through 24th. The event was successful in attracting some of the top builders in the country – including American Heritage Homes, Beazer Homes, Hammonds Homes, KB Home and McGuyer HomeBuilders, Inc.

The addition of these new products from iBidCo closely follows upon the heels of our success with the first new homes auction event on eBay," added Doug Galen, vice president of eBay Real Estate, Travel and New Business. Providing builders with more ways to increase the returns on their property listings is an important part of building upon this initial success and offering a better service."

About iBidCo

Oakland, CA based iBidCo (www.ibidco.com) is a new homes industry leading provider of online sales systems – the Online Sales Event, Live Sales Event with Webcast. iBidCo provides the systems, technology and expertise for grand or phase openings, premium home sales and inventory or community closeouts. These fully managed solutions work directly with the builders sales and marketing team to enhance sales performance and save marketing costs, with an emphasis on ensuring a convenient and positive consumer home buying experience.

About Builder Homesite, Inc. and NewHomeSource.com

Builder Homesite, Inc is a consortium of homebuilders founded in 2000 in Austin, TX by 10 of the nations largest homebuilders. It then quickly grew to 31 major Builders now representing over 400,000 homes sold nationally since launch. The following leading national homebuilders are investors and consortium members: American Heritage Homes, Beazer Homes USA, Inc., Capital Pacific Holdings, Centex Corporation, David Weekley Homes, Del Webb, The Drees Company, D. R. Horton, Gateway Homes, Hammonds Homes, Highland Homes, K-Hovnanian Enterprises, Inc., John Wieland Homes, KB Home, Lennar Corporation, McGuyer Homebuilders, Inc., M.D.C. Holdings, Medallion Homes, Morrison Homes, Neumann Homes, Orleans Homebuilders, Perry Homes, Pulte Homes, Ryan Building Group, The Ryland Group, Inc., Signature Homes, Sivage Thomas Homes, Standard Pacific Homes, Toll Brothers, Village Homes of Colorado, and Weyerhaeuser Real Estate. Newhomesource.com is the first product released by Builder Homesite, Inc and serves the interests of homebuilders and consumers by providing an incredible extensive marketplace and search environment for new homes and builders. Many major web portals are also using www.newhomesource.com as their preferred new home search engine, creating a multitude of marketing and search opportunities benefiting both builders and consumers. In addition to the 31 Investor Builders represented on the site today, an additional 31 builders have added their listings to www.newhomesource.

About eBay Real Estate

eBay Real Estate is the worlds online marketplace for real estate-related properties and services. Launched in August of 2000, eBay Real Estate operates five core categories within its marketplace: residential homes, timeshares, foreclosures, plots of land and commercial real estate. Both individual buyers and sellers and real estate professionals can enjoy a complete offering of services that make purchasing or selling a home safer, easier and more efficient. eBay Real Estate is a business unit of eBay, Inc. and can be found at www.ebayrealestate.com