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ERA NETWORK REAL ESTATE BECOMES THE LEADING EDGE IN REAL ESTATE FRANCHISING IN CALIFORNIA

 SAN JOSE, Calif., Jan. 28 /PRNewswire/ -- On Oct. 20, 1992, Network Real Estate Inc. was approved by the California Corporations Commission to operate as a sub-franchise of ERA, the nation's second-largest real estate franchisor. Network Real Estate Inc. is a subsidiary of Network Financial Services Inc. (NASDAQ: NETW) and is the largest franchise of ERA with 38 offices and over 350 agents and employees in Northern California, and is the only company approved by ERA to subfranchise its marketing system.
 Under this sub-franchise agreement, ERA Network Real Estate will provide small-to-medium size real estate offices not only with the full benefits of the ERA membership system, but also the full marketing and operations support system developed by Network Real Estate over the past six years.
 Network's unique marketing and support systems include: legal counsel for all Network's agents and managers, complete office management software systems, advertising and recruiting systems, luxury homes marketing programs, risk management programs and a number of direct management support services.
 As a member of the Network Financial Services organization, ERA Network Real Estate will provide its clients with the convenience of one-stop shopping for home mortgages, insurance and a host of home care, repair and maintenance services which are needed with the purchase or sale of a home.
 Network's agreement with ERA sets up a joint marketing program where Network's Marketing Representatives and ERA's Franchise Marketing Consultants work together to sign up sub-franchises for ERA Network Real Estate. Lee Danna, chairman, chief executive officer of Network Financial Services, says, "This marketing agreement with ERA will accelerate Network's growth of affiliated offices two to three times our original forecast. This is a tremendous boost to our company's strategic growth plan".
 ERA Real Estate, headquartered in Overland Park, Kan., has built its reputation upon being first in service and first in customer satisfaction. With this service oriented focus, ERA represents excellence in marketing programs and services that meet customers' needs. ERA has ranked in the top 25 of all franchised companies by Entrepreneur magazine for five straight years. Each office is independently owned and operated.
 Network Financial Services is a uniquely integrated provider of "one-stop shopping" for real estate, mortgage, insurance and other related services to home buyers and sellers throughout Northern California. The company operates three divisions: Network Real Estate, an Electronic Realty Associates (ERA) franchisee, one of the largest and fastest growing real estate brokerage firms in Northern California; Network Capital Group, a 25-year old mortgage banking operation; and Network Home Services, a provider of insurance brokerage and property care services. The company has grown rapidly over the last several years, and currently operates more than 38 offices with more than 350 agents and employees. Network's common shares are traded on the NASDAQ under the symbol NETW.
 NOTE: For additional information on Network Real Estate of California via FAX, dial 800-PRO-INFO, CODE 008.
 -0- 1/28/93
 /CONTACT: Lee J. Danna, chairman of Network Financial Services, 408-462-6200; or Lise Needham, 415-986-1591, of Financial Relations Board, for Network Financial/
 (NETW)


CO: Network Real Estate Inc.; Network Financial Services Inc.;
 ERA Real Estate ST: California, Kansas IN: FIN SU:


RK-GT -- SF001 -- 0070 01/28/93 09:03 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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