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CHICAGO TRIBUNE ANNOUNCES JOINT VENTURE WITH PRC REALTY SYSTEMS

 CHICAGO, Jan. 15 /PRNewswire/ -- PRC Realty Systems Inc. and the Chicago Tribune will launch a joint venture Monday designed to offer specialty publishing and computer-driven products and services not currently available to real-estate professionals.
 The initial services of the partnership, known as the Real Estate Information Connection (REIC), will be on-line advertising creation for newspapers and real-estate buyers-guide publications. Public property records information will be introduced throughout the six-county Chicago area later this year. Initial REIC efforts will focus on the Chicago area.
 REIC software will allow the end-user -- the broker or the real- estate board -- to produce a magazine as well as cost-effective, timely and accurate newspaper advertising listings,'' said Charles DelGrande, president and general
manager of the partnership. Finding ways to promote listings more cost-effectively through newspaper advertising or stand-alone publications is a critical need of real-estate professionals today.''
 Coldwell Banker Residential Real Estate Brokerage/Chicago is taking advantage of REIC's unique service by placing advertising on-line in both the Chicago Tribune and a monthly Coldwell Banker Real Estate Buyer's Guide.
 The guide uses REIC services and technology to advertise every home the company's brokers have for sale in the Chicagoland area, along with articles on topics such as financing, interest rates and tax advantages to home ownership. Each month, 75,000 copies of the guide are distributed through selected supermarkets, newsstands and Coldwell Banker sales offices.
 As an intensely service-oriented company, we appreciated REIC's good customer-service approach,'' said Joyce Burke, president of Coldwell Banker
Residential Real Estate/Chicago. They were flexible and worked hard to accommodate our needs. Our confidence in them was well placed.''
 REIC will offer timely, high quality, public property records, incorporating information from county assessors, all deed-transfer information, property-mortgage data and selected property characteristics.
 Our goal will be to enhance the raw public records data, improve upon its accuracy and usability, and deliver a comprehensive product that is unique and valuable in the eyes of a potential customer,'' DelGrande said.
 When this information is released, subscribers to REIC's system will be able to search the data by tax ID number, property address or owner's name. Clients such as real-estate agents, lawyers, financial-services providers, appraisers and contractors can customize the format of this information in several ways.
 REIC intends to make the public property data available as many ways as possible, including hard copy, on-line and possibly CD-ROM.
 Executives of PRC Realty Systems, the nation's largest developer of Multiple Listing Services software, say REIC will expand the range of products
 available to the industry. We believe that an emerging need has developed for the provision of a variety of services not directly related to multiple
reference systems,'' said William Stephens, PRC president. We are excited that through REIC, the real-estate professional will have additional services potentially available to them that will improve their efficiency and productivity.''
 John Madigan, publisher of the Chicago Tribune, said he was pleased with
the partnership. The Chicago Tribune looks forward to working with PRC,'' he
said. REIC offers our real-estate advertising partners exciting, new products and services that will allow them to conduct their businesses more effectively.''
 REIC will be located in suburban Oak Brook at 2000 York Road. The interim direct-dial phone number is 708-850-2968.
 Tribune (NYSE: TRB) is a leading U.S. information and entertainment company. It owns seven newspapers, seven television stations, six radio stations, produces and syndicates programming and information, owns professional baseball teams and produces newsprint.
 -0- 1/15/93
 /EDITOR'S NOTE: On Jan. 1, 1993, the News and Sun-Sentinel Company based in Ft. Lauderdale, Fla., changed its name to The Sun-Sentinel Company. The address and phone remain the same: 200 E. Las Olas Blvd., Ft. Lauderdale, Fla., 33301-2293; 305-356-4000/
 /CONTACT: Charles DelGrande of REIC, 708-850-3359, or Robert D. Carr of Tribune Company, 312-222-3763/
 (TRB)


CO: Chicago Tribune; PRC Realty Systems Inc. ST: Illinois IN: PUB SU: JVN

TM -- NY063 -- 5565 01/15/93 17:20 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Date:Jan 15, 1993
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