Navy Renews, Expands Agreement With RealtyRates.com

RealtyRates.com's contract to provide investment and financial data to the U.S. Navy has been renewed and its size and scope have been tripled.

BRADENTON, FLORIDA - February 24, 2003

RealtyRates.com announced today that its contract to provide specialized investment and financial data to the U.S. Navy's Naval Facilities Engineering Command (NAVFAC) has been renewed for one year with four one-year options. In addition, the size and scope of the contract have been tripled to include virtually the entire line of the company's research and data products.

Headquartered in Bradenton, Florida, RealtyRates.com operates a comprehensive, Web-enabled, integrated service designed to provide government agencies and private industry with timely investment, financial, and operating data essential to the evaluation, marketing, and disposition of income-producing property. The firm's quarterly data surveys are widely utilized by banks, commercial real estate professionals, investors, developers, and property tax assessment authorities throughout the country.

The Naval Facilities Engineering Command manages the planning, design and construction of shore facilities for U.S. Navy activities around the world. NAVFAC is a global organization with an annual volume of business in excess of $8 billion. As an integral member of the Navy and Marine Corps team, NAVFAC offers and delivers timely and effective facilities engineering solutions worldwide.