By Karen Kage, Chief Executive Officer

During their February Meeting, the Realcomp II Ltd. Board of Governors reviewed and approved our 2005 Business Plan. I want to share a few of the specifics of the plan with all of you.

Our number one priority throughout 2005 will be the transition from Compass to Realcomp Online^® and improving Realcomp Online^® based on your feedback. All of the suggestions that you send to us are carefully reviewed by the MLS/User Committee for possible implementation in a future release. Our efforts during the first quarter thus far have been spent on preparing for the retirement of Compass (PC Access). Each quarter thereafter, we will be installing an updated version of Realcomp Online^® to include some of your suggested changes. We will communicate the details of each version prior to the installation.

A new project that we will be researching during 2005 is the expansion of online ordering of virtual tours and/or multiple photos. We are looking at different options to provide more efficient service for the MLS photos. Additionally, we are talking to virtual tour vendors in an effort to bring you options and to automate the ordering process.

We continue to work with First American to bring you the Realist product. This is an ongoing project and we anticipate a roll-out no later than the third quarter. A lot of effort has gone into making sure that this program meets the specific needs of our customers. In addition, we will continue to expand the amount of public record data that we currently offer through our relationship with First American.

We know that providing you with access to accurate and timely MLS and Public Record Data is our core function. We will stay focused on bringing you the best system possible while looking at other opportunities.

Please let us know how we are doing! I can be reached by phone at 248-699-9120 or via e-mail.