CoStar makes Fast 500 list. (Technology Update).

CoStar Group Inc. has been named to the Deloitte & Touche Technology Fast 500 list for the third consecutive year. The list is a ranking of the 500 fastest-growing technology companies in North America. CoStar's revenue grew by 1,249% between 1996 and 2000, the five-year period on which the rankings are based. Revenues currently are in excess of $70 million annually.

"We're proud to once again earn a place in the Deloitte & Touche Technology Fast 500," commented CoStar Group president and CEO Andrew C. Florance. "It is especially gratifying to earn this distinction for the third consecutive year because the rankings are based on sustained revenue growth. Our strong, consistent revenue growth confirms that commercial real estate professionals across the country have embraced our service."

The CoStar Group achieved positive EBITDA (earnings before interest, taxes, depreciation, and amortization) in the third quarter of 2001, and is on track to reach its stated goal of achieving pro forma profitability before the end of 2001. "We are looking forward to the ultimate confirmation of our business model," Florance stated. "We are fast approaching profitability, and have the management, infrastructure, and financial resources to continue the expansion of our platform."

"Making the Deloitte & Touche Fast 500 is a testament to a company's leadership, commitment to technology, and ability to deliver the right solution at the right time," said Mark A. Evans, managing director of Deloitte & Touche's technology and communications group. "With its 1,249% five-year growth rate, CoStar Group has proven that its leadership has the right vision and determination to succeed, and we at Deloitte & Touche salute their accomplishments."

In addition to ranking on the Deloitte & Touche Fast 500, CoStar ranked 14th on the Maryland Fast 50, a ranking of the 50 fastest-growing technology firms in Maryland. CoStar has been named to the Maryland Fast 50 four years in a row.

The Fast 500 list is compiled from three sources: winners of Deloitte & Touche's 22 regional North American Fast 50 programs, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 1996 revenues of at least $50,000 for the United States.