RP DATA SIGNS MAJOR MULTI YEAR VALUATION SERVICES CONTRACT

RP Data Ltd Announcement - 04th June 2007

Following the launch of the RP Data-Rismark Property Price Indices in February, and the launch of Australia’s first hedonic based Automatic Valuation Models (AVMs) last week, a number of customer contracts have been signed, one of which is material to the business.

RP Data Ltd (“RP Data”, the “Company” ASX: RPX) is pleased to announce its first major multi-year AVM supply contract with a leading finance industry customer. This contract provides for a minimum of 4 million dollars ($4m) in revenue over three (3) years. RP Data will only recognise one month’s pro-rata revenue in this financial year.

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

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."

"While 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 each year 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", he concluded.

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.

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 in the US alone.

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

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.