StreetSine News WWW.STREETSINE.COM FOLLOW THE SINE StreetSine Group News Release Leading Estate Agencies and StreetSine Officially Launch the Singapore Real Estate Exchange (SRX) 8 December 2011. StreetSine and the leading Estate Agencies of Singapore officially launched the Singapore Real Estate Exchange (SRX) with a ceremony attended by industry leaders, government officials, regulators, professors from Singapore's leading universities and members of the media. SRX is an electronic network powered by StreetSine Technology. Leading Estate Agencies and salespersons go to SRX to find the information necessary to conduct real estate transactions. StreetSine and market leaders PropNex, HSR, DWG, and OrangeTee soft-launched the Exchange on 15 July 2011 as part of a coordinated industry effort to share proprietary pricing information and increase efficiency, productivity, and transparency in the market. SRX quickly expanded its Member Companies to most of the market, including ERA, C&H, ECG, DTZ, Huttons, Savills, and ReMax. To mark the public launch of the SRX today, CEOs of the Estate Agencies activated the Exchange's website, www.srx.com.sg and unveiled the SRX video. SRX Member companies represent 9 out of 10 resale transactions and a significant number of new sales. Within hours of closing a sale or rental, the agent submits the transacted price to the agency. Because the agency is linked electronically to the SRX database, the transacted price is immediately distributed, on an anonymous basis, to the entire SRX network to be used to price other homes using comparable market analysis. On average, SRX receives 300 sales and rental transactions a day. The sales transactions are posted on the SRX weeks or months before they are published by URA or HDB. The rental transactions are posted only on SRX. No other source in Singapore has rental transactions. As a result, the collective information in the SRX provides the best and most significant representation of the market's real-time prices available. In many ways, the SRX is now analogous to a stock exchange in terms of pricing transparency. Furthermore, SRX provides agents and consumers with validated, exclusive listings. In order for a listing to be posted on SRX, it must be validated through internal systems of the estate agencies or via a mobile application developed by StreetSine. Both the agencies' systems and StreetSine mobile apps validate listings in accordance with the Estate Agent Agreement for exclusive listings as prescribed by CEA (Council for Estate Agencies). Because of the validation listing process through the SRX network of the eleven leading Estate Agencies, SRX does not post dummy listings and duplicates. Industry leaders in attendance included Mr. Mohamed Ismail, CEO, PropNex; Mr. Donald Yeo, Executive Director, HSR; Mr. Andy Choa, Executive Director, DWG; Mr. Michael Tan, Director, Orange Tee; Mr. Ric Tynes, Chief Investment Officer, Hersing Corporation, the parent company of ERA; Mr. Shawn Tan, Managing Director, ECG; Mr. Albert Lu, Managing Director, C&H; Mr. Ho Tian Lam, CEO, DTZ; Mr. Samuel Yeo, Director, Savills; and Mr. Ken Lim, Chairman, ReMax. About StreetSine. StreetSine Pte Ltd builds data pipes and software applications for the real estate industry. Professional real estate agents and investors use its tools to co-broke and transact property. Since November 2007, StreetSine has successfully introduced a number of innovative Information Communication Technologies (ICT) applications to the real estate industry, including Home Report™, Agent Connect™, and Validated Listings™. The company is the administrator for the Singapore Real Estate Exchange (SRX™), certified to ISO 9001:2008 Quality Management System Standards, GST registered, and Best Start-up 2010 as judged by the Singapore InfoComm Technology Federation. For more information on PCN or any of StreetSine's services, contact Jeremy Leong on +65 9090 9997 or Alex Toh on +65 9767 8626 or visit www.streetsine.com. About SRX. The Singapore Real Estate Exchange (SRX) is an electronic network powered by StreetSine Technology. Leading Estate Agencies and salespersons go to SRX to conduct real estate transactions. SRX is the only place in Singapore where agents can find Validated Listings™ and real-time, instant, and live transacted prices. For more information on SRX, contact Jeremy Lee on [email protected] or visit www.srx.com.sg. StreetSine Living Technology ©