ZipRealty Opens Doors in Booming Las Vegas Market; Local Buyers to Get MLS Online, along with Enhanced Customer Service and Savings.

EMERYVILLE, Calif. -- ZipRealty (NASDAQ:ZIPR) has announced the addition of Las Vegas -- one of the nation's fastest growing cities -- as its newest U.S. market. With the addition of the Las Vegas market, ZipRealty, a full-service real estate brokerage with licensed agents, is now in 13 metropolitan areas and ten states, as well as the District of Columbia.

For the first time in the Las Vegas area, people who register for free on www.ziprealty.com will have online access to the local Multiple Listing Service (MLS), including full addresses and all available photos of homes currently on the market. ZipRealty is one of the few brokerages in the industry that updates the MLS several times a day, ensuring people have the most accurate, up-to-date information to make home-searching more productive. Additionally, unlike other brokerages in the market, ZipRealty offers savings of 20 percent cash back/rebate of its commission at closing for buyers and a sales commission savings of up to 25 percent less than market standard for sellers.

"Las Vegas offers a booming housing market, and with the population expected to soar to two million by 2007, the area was a logical place for our expansion," said Eric Danziger, CEO of ZipRealty. "Our proven success in other markets, in addition to a positive IPO this past fall, gives us incredible confidence that we can offer a valued service to home buyers and sellers in the local market."

Longtime Las Vegas resident Jason Braford has signed on as ZipRealty's district director in the Las Vegas office. He is building a team of local, licensed real estate agents to serve customers who have already begun listing and shopping for homes with ZipRealty since the Las Vegas listings went live last month.

"ZipRealty has an excellent opportunity to serve buyers and sellers, especially since there are no other brokerages in the area providing as many useful and customer-friendly benefits and savings," explained Braford. "We are already seeing higher-than-expected traffic to the Vegas listings on the Web site, and we are expecting this to grow as our brand becomes more popular and prominent with potential customers."

ZipRealty offers a number of tools that have helped the Company earn a 94 percent satisfaction rating among its customers compared to the industry's standard 32 percent. For example, buyers can sign up for instant email notifications, which alert people via email as soon as a house that fits their search criteria comes on the market. People can save different searches based on a variety of options such as price, location, or distance from a particular address, and have access to neighborhood research such as maps, schools and crime. Home sellers can also take advantage of a ZipRealty tool that instantly displays recent home sales for a specified address, which helps sellers accurately price their home. ZipRealty offers one of the only service guarantees in the industry, and agent bonuses are tied to customer feedback, demonstrating its commitment to customer satisfaction.

About ZipRealty

ZipRealty is a full-service residential real estate brokerage firm. The Company uses the Internet, proprietary technology and efficient business processes to provide home buyers and sellers with high-quality service and value. Founded in 1999, the company operates in 13 major metropolitan areas in ten states and the District of Columbia. The Company's client-centric business strategy utilizes a sophisticated web site, which enables home buyers and sellers to access comprehensive local Multiple Listing Services home listings data and other relevant information. The Company also utilizes a proprietary business management technology platform, which reduces costs and allows the Company to pass on significant financial savings to consumers. This Internet-enabled, technology-driven, employee-based model provides the Company with a distinct competitive advantage, allowing ZipRealty to consistently deliver outstanding service to clients. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.

Cautionary Language

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including statements regarding the expected population growth in Las Vegas, expected traffic to the Las Vegas listings on the Company's Web site, and the popularity, prominence and perceived value of the Company and its services with potential customers. The forward-looking statements are subject to risks and uncertainties that could cause actual events to differ materially from those projected, including the risk factors set forth in the Form 10-K filed with the SEC by the Company for its fiscal year ended December 31, 2004. ZipRealty assumes no obligation to update the forward-looking statements included in this release.