PRESS RELEASE DETAIL


Jan 18, 2008

CoStar Group Completes Acquisition of London-Based Property Intelligence plc

2003-01-06 2003 CoStar Group Completes Acquisition of London-Based Property Intelligence plc Acquisition Brings Leading Commercial Real Estate Information Services in ...

2003-01-06 2003 CoStar Group Completes Acquisition of London-Based Property Intelligence plc Acquisition Brings Leading Commercial Real Estate Information Services in U.S. and U.K. Under CoStar Umbrella

BETHESDA, MD -- CoStar Group, Inc. (NASDAQ: CSGP), today announced it has completed its acquisition of London-based Property Intelligence plc. The transaction makes CoStar the leading provider of information services to the U.S. and U.K. commercial real estate industries.

Property Intelligence, whose operations principally consist of Focus Information, is a leading provider of commercial real estate information services in the United Kingdom. Founded in 1984, the company has approximately 700 customers, including the top 20 U.K. real estate services firms. Focus Information's main products provide information on buildings, available space, requirements, tenants, lease deals, comparable sales, planning information and photos across the United Kingdom.

"We're eager to get started," said CoStar president & CEO Andrew C. Florance. "The addition of this strong U.K. operation positions CoStar to deliver integrated service to its multinational customers, and we believe the acquisition will ultimately lead to the expansion of the overall market for commercial real estate information services."

On November 25, 2002, CoStar Group announced the recommended cash offer to acquire the existing issued shares of Property Intelligence for approximately $16.4 million, conditional upon valid acceptances being received by at least 90% of the outstanding shares of Property Intelligence, the passing of resolutions by the shareholders of Property Intelligence, and the disposal of Intelligent Addressing, a separate division of Property Intelligence.

All of these conditions have been satisfied allowing the board of directors of CoStar Limited, a wholly owned subsidiary of CoStar Group Inc., to announce today that the Offer has been declared unconditional in all respects.

In addition, CoStar Limited today announced that it intends to acquire compulsorily all of the Property Intelligence shares in which it has not received a valid acceptance.

About CoStar Group, Inc.

Headquartered in Bethesda, MD, CoStar Group, Inc. (NASDAQ: CSGP), is the leading provider of information services to the U.S. commercial real estate industry. CoStar's suite of products offers customers access to the most comprehensive, verified database of commercial real estate information in 50 U.S. markets. The company has approximately 800 employees and contractors in 33 offices nationally, including the industry's largest professional research organization.

This news release includes "forward-looking statements," which involve many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially include, but are not limited to, those stated in CoStar's Form 10-Q for the Quarter ended September 30, 2002, under the heading "Risk Factors." In addition to these statements, there can be no assurance that CoStar will be able to deliver an integrated service or will be able to expand the market for commercial real estate information services. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.
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