Zetabid(TM) Auctions Make It Easy to Buy Bank-Owned and Builder-Owned Homes in the U.S.

 Los Angeles Times Media Group, GoIndustry DoveBid and CataList Homes Form

     National Venture To Expand The Pool of Auction Buyers By Providing

Convenience And Transparency; Real Estate Agents and Brokers Central To The

                              Zetabid Process

  Inaugural Auction Of Southern California Homes Set For September 27th &

         28th; Five National Lenders And Loan Servicers Offer Homes



    LOS ANGELES, Aug. 25 /
EMWNews
/ -- Americans seeking the dream of

homeownership at attractive prices can now confidently purchase a wide

variety of bank-owned and builder-owned properties at Zetabid auctions

across the nation.



    Zetabid provides first-time homebuyers and trade-up purchasers, as well

as high net worth individuals and investors, with exceptional buying

opportunities by providing a simple, accessible and transparent auction

experience. Buyers can bid in-person at Zetabid auctions, via live webcast

or have their agent submit an offer. Zetabid opens up the auction market of

bank-owned and builder-owned homes by providing buyers with information and

online tools to participate in widely publicized auctions for single-family

homes, townhouses and condos.



    "Zetabid fundamentally redefines and improves the way residential

auction sales are conducted in the United States," said Bob Bellack,

Chairman of Zetabid and President, Digital Media, Classified and

Development, for the Los Angeles Times Media Group. "For buyers, Zetabid

simplifies the auction sales process and is a smart way to get a good deal

on a home. For banks, asset servicers and developers, Zetabid is an open

model for selling properties and offers the greatest awareness, access and

liquidity of any auction provider through its national marketing

capabilities. For the real estate industry, Zetabid is an inclusive model

that enables agents and brokers to assist clients in buying bank-owned and

builder-owned homes at Zetabid public auctions."



    Zetabid's first auction will be held Saturday, Sept. 27 and Sunday,

Sept. 28 at the Ontario Convention Center at 2000 E. Convention Center Way

in Ontario, California. Buyers can register in advance online, and bids can

be presented in-person at the auction or via Zetabid's live webcast

auction. To view the inventory of homes, or for more information about the

registration, bidding, and closing process, visit http://www.zetabid.com.

Additional inventory will be added right up to the event.



    Coinciding with the announcement of its first auction, Zetabid launched

an extensive, multi-channel promotional campaign in Southern California

that includes print advertising in the Los Angeles Times; broadcast

advertisements through media affiliates such as KTLA; and online at

http://www.latimes.com, local sites, real estate sites, and at

http://www.zetabid.com.



    Greater Reach And Access Improves Liquidity For Banks And Builders



    As a consumer brand, Zetabid is designed to create broad awareness of

and access to unsold inventory. Zetabid's marketing capabilities help banks

and builders expand the market and improve liquidity by reaching the

demographic most interested in purchasing residential properties. Unlike

other auction facilitators, Zetabid never removes properties from the

Multiple Listing Service (MLS). With no off-market time, sellers and their

brokers and agents can maximize opportunities to liquidate property.



    "Because of Zetabid's ability to reach a global audience of buyers,

bank-owned and builder-owned inventory is opened up to local, domestic and

international buyers for the first time," said Ross Dove, President, Global

Business Development, GoIndustry DoveBid. "Buyers anywhere in the world can

bid on properties via webcast with the same ease as those physically

present in the auction ballroom."



    Zetabid Creates Opportunity For Real Estate Professionals



    Zetabid was created to fully engage the real estate industry and helps

agents and brokers generate income. Because most home sales are executed

with agents and brokers, Zetabid understands the importance of allowing

buyers to work with their agents and brokers to get an attractive deal on a

bank-owned and builder-owned home.



    Buyers' agents and brokers who bring clients to Zetabid auctions and

represent them through the transaction are compensated. For listing agents,

Zetabid also helps to significantly raise their profile in the marketplace

by including real estate professionals in Zetabid's promotional campaigns.



    Best-in-Class Partners



    Zetabid's marketing capabilities tap the Los Angeles Times Media

Group's (LATMG) flagship Los Angeles Times (http://www.latimes.com), which

reaches an audience of 3.2 million Sunday readers, has a daily readership

of 2.2 million and draws 8.75 million monthly visitors to

http://www.latimes.com. Zetabid also draws upon LATMG's extensive network

of broadcast, print and interactive partners, including Hoy, which reaches

Southern California's Spanish-language marketplace. As part of the Tribune

Company, the LATMG also has access to markets across the U.S. through its

network of media partners.



    Zetabid's auction capabilities are managed by GoIndustry DoveBid (EPIC

code: GOI, AIM), the world's leading provider of asset management, auction

and valuation services. GoIndustry DoveBid has operations in 28 countries,

conducts auctions in multiple languages, and provides the capability for

international investors to bid on U.S. properties for the first time.

GoIndustry DoveBid (http://www.goindustry.com/en/) has executed more than

1,000 webcast auctions.



    Zetabid's real estate capabilities are managed by CataList Homes

(http://www.catalisthomes.com), a pioneering Southern California brokerage

with extensive experience in foreclosure sales. CataList Homes provides

transaction expertise and a scalable technology to manage the execution of

hundreds of properties during a single auction event. CataList Homes is

backed by Hal Ellis (founder of Grubb & Ellis), WestRiver Capital, Marcus

and Millichap, Bain and Company, and several private investors. Presidio

Merchant Partners, CataList Homes' investment banker, acted as exclusive

strategic and financial advisor in the formation of Zetabid and maintains

an active advisor's role to CataList Homes.

    About Zetabid



    Zetabid makes it easy and convenient for consumers to purchase bank-

and builder-owned homes at Zetabid's public auctions. A venture of the Los

Angeles Times Media Group, GoIndustry-DoveBid and CataList Homes, Zetabid

expands access to the inventory of residential properties sold at auction

and opens up the market to U.S. and international buyers. Zetabid offers

the widest reach and greatest awareness of auction inventory through its

national network of print, broadcast and online partners. For more

information, visit http://www.zetabid.com or call 888.4-ZETABID

(888.493.8224).