RP DATA LAUNCHES WORLD CLASS AUTOMATED VALUATION MODELS (AVM) AVAILABLE NOW FOR ITS 8,500 CUSTOMERS.

RP Data Ltd Announcement - 30th May 2007

RP Data is pleased to announce today the launch of Australia's first hedonic based Automatic Valuation Models (AVMs).

Hedonic analytics measure price changes through time by controlling for a property's location, land size, construction type and specific characteristics (eg. number of bedroom and bathrooms).

The RP Data AVM platform automatically values over 7 million residential properties of the 12 million properties on RP Data's database across Australia every week and then matches that against the actual sales of property, to create comprehensive and accurate valuation reports on the residential real estate market. The number of properties covered by the platform will increase in line with future property sales activity.

This launch follows the RP Data-Rismark Index being selected for use by the Reserve Bank of Australia (RBA) in its economic data in February.

RP Data believes that banks, other mortgage lenders and insurers will discover that appropriate benchmarking will establish that RP Data's hedonic based AVMs are superior to other potential alternatives.

Leveraging the Strategic Alliance Agreement with First American Real Estate Solutions (FARES), RP Data and FARES have worked closely with the Australian Finance industry to localise the technology and apply it to Australia's largest property database held by RP Data.

FARES is RP Data's largest shareholder and is the worlds largest provider of AVMs having performed over 250 million AVMs.

RP Data estimates that over 500,000 property transaction and 1 million mortgages are completed every year and these transactions generate almost 2 million property valuations.

Revolutionising the Australian property industry, RP Data's AVMs can provide individual property valuation reports within seconds, or value entire portfolios (in excess of 200,000 properties) within hours.

The AVMs will be made available firstly to the 8,500 business customers who subscribe to RP Data's Property Information and On The Market services. These business customers currently access RP Data's property information 30,000 times a day and perform over 100,000 property views.

The AVMs have been integrated into the core services and will be made available at the click of a button on each residential property that is searched for a transaction fee of around $40 to RP Data subscribers. A consumer version of the service is planned for later in the year.

Graham Mirabito, RP Data's CEO, said, "Our AVMs and Indices provide property owners, buyers and the property industry with the most comprehensive and timely information about the $3 trillion Australian residential real estate market. No longer will Australians need to guess about the performance of their largest asset.

"Whilst it is globally acknowledged that hedonic based property analytics are far superior, they can only perform if running on high quality, accurate and timely data. To deliver our services we invest over $5 million per annum in data, so we are encouraged with the market reaction so far with our major contracts, and in particular the RBA referencing our hedonic index in monetary policy last week.

"Our AVMs will be available to all customers across Australia as they have been embedded into our core service and can be accessed on any valid property", concluded Mr Mirabito.

About RP Data:
Established in 1991, ASX-listed RP Data (ASX: RPX) is the largest supplier of property information services throughout Australia and New Zealand. Subscription clients to RP Data’s property information service include over 8,500 real estate agents, valuers, property developers, financial institutions and government departments. RP Data’s Consumer site is the leading property reports site and delivers over 600,000 property reports per year to its consumer customers. In addition to RP Data’s property information services, the company provides in-house management software to over 1,100 real estate agencies. RP Data’s databases cover 97% of all properties in Australia and include more than 65 million data records made up of over: 12.0 million property ownership records; 11.0 million property attribute records; 3.6 million property features records; 15.8 million property sales records;12.0 million property maps; 16.8 million property photos; and 9.0 million "on the market" property listing records. For more information visit www.rpdata.com.