PRANIX LAUNCHED TO MEET THE BUSINESS AND TECHNOLOGY NEEDS OF THE REAL ESTATE INDUSTRY Company Created by Industry Veterans Ann Hale Bailey and Errol Samuelson LAGUNA BEACH, Calif., (May 8, 2003) - Pranix, Inc., today launched its unique range of consulting services to address the complex issues facing the real estate industry. Headquartered in Laguna Beach, Calif., Pranix's management team includes industry veterans, Ann Hale Bailey and Errol Samuelson whose respective careers represent more than 40 years of combined industry experience and knowledge. Pranix, named for its focus on "practical analytics," will provide technology, business development, and strategic planning services. Bailey, a long-term visionary in the real estate industry, brings a depth of industry knowledge, strong analytical skills, a broad educational background and an ability to work in the complex environment of organized real estate and related areas. Prior to forming Pranix, Bailey was a principal of The Resource Connection, and has held executive positions at Realtor.com, PRC (now Interealty), and McGraw Hill. Samuelson brings business development and technical expertise to the partnership, with experience in strategic planning, mergers and acquisitions, product and project management, and technical analysis. Prior to forming Pranix, Samuelson held senior positions at Realtor.com, GTE (now Verizon), and MPR Teltech. "This team brings a valued perspective on the critical issues facing our members today," stated Terry McDermott, CEO of the National Association of Realtors. "With their diverse experience, I believe that Bailey and Samuelson will be very successful, delivering insightful and balanced solutions to the industry." Pranix will focus on the needs of brokerage firms, MLSs, Realtor associations and related real estate entities. Bailey stated, "The new venture is being formed because we believe the industry is asking for a level of involvement and analysis that we can uniquely provide." Chip Roach, Co-Chairman of Prudential Fox and Roach Realtors in Pennsylvania, stated, "The industry has been sorely lacking the level of expertise that Pranix brings to the table. Their timing is excellent because brokers are facing significant business and technical issues where their input will be incredibly valuable." David Charron, CEO of Rockville, Maryland-based MRIS, the largest MLS in the country, commented "I am looking forward to working with both of them. They will offer value to the industry as whole, as well as to individual brokerage firms, associations and MLSs." CONTACT:      Ann Bailey - (949) 376-4922      ann@pranix.com      Karen Fulton - (619) 871-6238      karen@pranix.com About Pranix Pranix is the premier provider of consulting services to the real estate industry. The company offers a wide range of business and technology services: strategic planning, organizational reviews, technology assessments, and business development services. Pranix also provides speakers on industry issues and facilitates workshops and planning retreats.