SOLD Housevalues (MM)

CHICAGO, March 7 /PRNewswire/ -- William Blair & Company initiated research coverage of HouseValues, Inc. (NASDAQ:SOLD) ($8.92), which provides third-party services for consumers and agents engaged in the real estate industry, with a Market Perform rating and company profile of Aggressive Growth. Analyst Troy Mastin estimated that the company would earn $0.27 per share in 2006 and $0.48 per share in 2007. (Estimates include options expense.) "We believe that the company offers the most comprehensive set of third- party real estate services as a result of its two-pronged approach: servicing both the consumer looking for help in buying or selling a home and the real estate agents seeking consumer leads," Mastin said. "The company has executed well in three key areas, including a complex outbound real estate agent sales effort, localized consumer lead generation using offline and online media, and real estate agent support tools and services." "HouseValues has demonstrated a competency of establishing and supporting a customer base in a highly fragmented industry, skills that we believe open opportunities in adjacent verticals, such as mortgages," Mastin added. William Blair & Company, L.L.C. ( http://www.williamblair.com/ ) is a Chicago-based investment firm, founded in 1935, offering investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients. As an independent, employee-owned firm, our philosophy is to serve our clients' interests first and foremost. We place a high value on the enduring nature of our client relationships, the quality of our products and services, and the continuity and integrity of our people. William Blair & Company has offices in Chicago, Hartford, London, San Francisco, Tokyo, Vaduz, and Zurich. William Blair & Company, L.L.C. has received compensation for investment banking services from the company within the past 12 months, or expects to receive or intends to seek compensation for investment banking services in the next 3 months. William Blair & Company, L.L.C. is a market maker in the security of this company and may have a long or short position. For important disclosures and information regarding the firm's rating system, valuation methods and potential conflicts of interest, please visit: http://www.williamblair.com/pages/news_story_dept.asp?uid=989&depID=4 Additional information is available upon request. William Blair & Company, L.L.C. is a member of the National Association of Securities Dealers, CRD number 1252. DATASOURCE: William Blair & Company, L.L.C. CONTACT: Tony Zimmer of William Blair & Company, L.L.C., +1-312-364-8611, Web site: http://www.williamblair.com/

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