NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO U.S. PERSONS

6 November 2006

RP Data Ltd Media Announcement
RP Data Ltd Announces Initial Public Offer

1. Overview

RP Data Ltd (“RP Data” or the “Company”), is a leading provider of residential property data and information services in Australia and New Zealand, and is the market leader in the provision of Property Information Services to real estate agencies nationally and in most Australian States and New Zealand. RP Data has announced an A$57.7 – A$72.1 million initial public offering (“the Offer”) based on the Indicative Price Range of A$1.00 to A$1.25 per share. RP Data today lodged its Prospectus with the Australian Securities and Investments Commission, and will be applying to be admitted to the official list of the Australian Securities Exchange.

The Offer comprises approximately 57.8 million fully paid ordinary shares in the Company (“Shares”). The Offer represents 41.9% of the Shares in RP Data following completion of the Offer, with the remaining 58.1% to be held by existing shareholders First American Real Estate Solutions (‘FARES”), Info Corp Pty Limited (“Info Corp”), BERG Investments Limited and Macquarie Bank Limited (“Macquarie”). Post-listing, RP Data will have a market capitalisation of A$138.1 – A$172.6 million (based on indicative price range).

The Offer will provide a mechanism for Macquarie and Info Corp to realise a portion of their investment, as well as broadening RP Data’s shareholder base. The proceeds of the Offer will be used to pay Info Corp for the sale under the Offer of 28.9 million Shares held by Info Corp in RP Data and pay Macquarie Bank for the buy-back by RP Data of 28.9 million Shares held by Macquarie Bank in RP Data. None of the proceeds will be retained by RP Data.

RP Data offers subscription and transaction-based property information services and other business services such as real estate software and support and is planning to launch a range of valuation services. Over the past few years RP Data’s business model has consistently generated attractive margins and predictable core earnings growth. RP Data has experienced revenue growth despite the property market downturn in some States of Australia, reflecting both the resilience of the predominantly subscription revenue base as well as the essential nature of Property Information Services to real estate agencies, RP Data’s largest customer segment.

RP Data’s strategy for growth is to leverage its property database to drive further growth within its core real estate segment, expand into related customer segments and develop new property information products and services for both real estate and non-real estate customers.

2. Business Profile

The key features of RP Data’s business include:

• Market Leadership – RP Data is the market leader in the provision of Property Information Services to real estate agencies on a national basis in Australia and in New Zealand, with an estimated 63% market penetration.
• Attractive Business Model – the Company’s predominantly subscription-based direct debit revenue model has in recent years generated attractive margins and predictable core earnings growth, low working capital requirements and minimal bad debts. RP Data enjoys high incremental margins on product sales due to its largely fixed cost base.
• Large and Comprehensive Database – Database of Australian and New Zealand residential property information containing over 58 million records and is currently growing at an additional 6 million records per annum, covering approximately 85% of residential properties in Australia and New Zealand.
• Multiple Growth Opportunities - RP Data is well positioned to expand its penetration of its Property Information Services and Real Estate Software within real estate agencies in Australia and New Zealand, both organically and through bolt-on acquisitions. Cross-selling presents attractive growth opportunities. Growth is anticipated to be driven by further expansion into related segments such as finance, insurance and financial planning.
• Attractive Industry Dynamics - Barriers to entry include limited availability of government data licences and the fact that some data sets are no longer publicly available. Most, if not all, real estate agents require access to property information services in some form.
• Operational and Organisational Ability - RP Data has an experienced management team and Board of Directors.
• Strategic Alliance with First American Real Estate Services - FARES, a leading North American provider of property data, information services and analytics, has recently acquired 38.1% of RP Data. In order to accelerate its growth, RP Data plans to leverage the experience of FARES, which in North America has successfully developed and marketed new property information products and services and expanded its presence into non-real estate industry segments.

3. Offer Details

The Offer primarily comprises a Retail Offer and an Institutional Offer, and consists of an offer of approximately 57.8 million Shares.

All Shares under the Retail and Institutional Offers will be issued at the Final Price, which will be set following the completion of the Institutional Offer. The Final Price may be set within, above or below the Indicative Price Range, which is A$1.00 to A$1.25 per Share.

Applications for Shares can be made by Australian retail investors on the Application Form attached to or accompanying the Prospectus dated 6 November 2006 lodged with the Australian Securities and Investments Commission. The Prospectus may be viewed by Australian residents only in electronic form www.rpdata.com or can be obtained free of charge by calling the RP Data Offer Information Line on 1800 286 780 (toll free within Australia) or +61 3 9415 4370.

4. Key Offer Statistics

Contact Details:

Graham Mirabito
Chief Executive Officer, RP Data Limited
Tel + 61 7 3114 9999

Applications for Shares can be made by Australian retail residents on the Application Form attached to or accompanying the Prospectus dated 6 November 2006 lodged with the Australian Securities and Investments Commission. This notice does not constitute an offer or invitation in any jurisdiction where, or to any person to whom, such an offer or invitation would be unlawful. This notice does not constitute an offer of securities for sale in the United States. No action has been taken to register or qualify the Prospectus, the Shares or the Offer, or otherwise permit a public offering of the Shares, in any jurisdiction outside Australia. The Shares being offered in the Prospectus have not been, and will not be, registered under the US Securities Act and may not be offered, sold or resold in the US or to, or for the account or benefit of US persons (as defined in Regulation S of the US Securities Act), except in accordance with an available exemption from registration, under the US Securities Act and applicable US state securities laws. Neither this announcement, the Prospectus nor the accompanying Application Forms may be sent to investors in the US or otherwise distributed in the US or to US persons.