Crye-Leike Insights

Memphis, Tenn. - Memphis-based Crye-Leike, a full service real estate company and the largest real estate company in Tennessee and the Mid-South, announced that it has attained top rankings among Memphis, Tennessee's largest and most successful private companies. A recent research report, produced by the Memphis Business Journal, ranked Crye-Leike No. 23 among the largest private companies in Memphis, Tenn., a move upward from its No. 28 ranking in 2003. Crye-Leike has four regional hub offices located in Memphis, Nashville and Chattanooga, Tennessee and Little Rock, Arkansas. The report further ranked Crye-Leike No. 21 among Memphis' largest employers, a ranking it has retained for the past two years. Crye-Leike reported 349 full-time employees within its Greater Memphis Region in 2004 compared to 320 in 2003. The rankings were a part of the Memphis Business Journal's annual Top 100 Private Companies list. The business journal based the rankings on the companies' gross revenues in the Greater Memphis Region during 2004, a criteria established by journal's researchers due to the broad spectrum of industries represented on the list. Additional criteria included that companies must maintain their headquarters in the Memphis metropolitan statistical area (MSA). The MSA includes Shelby, Fayette and Tipton counties in Tennessee, DeSoto County in Mississippi and Crittenden County in Arkansas. Crye-Leike generated $151.2 million in gross revenue in 2004 within its Greater Memphis Region, a growth in revenue of 16.2 percent compared to $126.6 million in 2003. Belz Enterprises and Kemmons Wilson Cos., real estate development & management companies, were the only other real estate related businesses in Memphis that were ranked among the top 25 of the Top 100 Private Companies list. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, is the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,900 sales associates and 90 branch and franchise offices located in 47 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike also is ranked No. 5 in the nation among the 144 largest privately owned and independent real estate companies. As a full service real estate company, Crye-Leike offers real estate and related services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; business brokerage services; REO - bank-owned homes; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services.  

CRYE-LEIKE'S WEST TENNESSEE REGION. Crye-Leike, Inc. reports record months during January, February and March 2005 for closed business in its West Tennessee Region, including Mississippi. Crye-Leike, Inc. reports first quarter sales of this year for its West Tennessee Region at $418 million, representing 2,531 units sold, up 5 percent from $399.8 million, in the same quarter a year prior. Local sales volume in March of this year was $174.3 million, up 4 percent from last March. These figures represent 1,099 closings, a 2.2 percent increase from the same period last year. Sales reported by Crye-Leike, Inc. (Memphis) includes sales in the Greater Memphis area, including West Memphis, Ark. and Olive Branch, Hernando, Southaven and Tupelo, Miss. Crye-Leike, Inc. in Memphis has a sales force of over 1,200 sales associates who are located in 21 branch offices in four counties throughout its West Tennessee Region. Those counties include: Shelby County in Tennessee and DeSoto and Lee counties in Mississippi, including Crittenden County in Arkansas. CRYE-LEIKE'S FIRST QUARTER COMPANY WIDE RAISES THE BAR IN REAL ESTATE SALES Memphis, Tenn. - Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, reports strong across-the-board sales activity due to favorable market conditions as disclosed in its first quarter sales report. "The appeal of homeownership as a sound investment continues to drive the housing market as our company's sales reflect a new all-time record," says Harold E. Crye, chief executive officer. "Mortgage rates, employment, household income and other favorable market conditions continue to drive demand, which we predict will keep Crye-Leike's sales steady and very close to last year's record of $4.6 billion." Memphis-based Crye-Leike, Realtors reports first quarter sales company wide in 2005 up 23.3 percent over the same quarter a year prior. First quarter sales totaled $1.02 billion, up from $830.2 million in the same quarter last year. Units sold totaled 6,458, up 13.8 percent compared to 5,676 a year prior. For the month of March, the real estate giant reports that all of its regions had sales of $423.2 million, up 23 percent from $345.3 million last year. These figures represent 2,768 units sold in March, up 18 percent from 2,345 for the same period last year. The average residential sales prices in March 2005 for Crye-Leike's major metro areas compared to March 2004 were: $152,611 in Chattanooga, a 15 percent increase from $132,722; $158,615 in Memphis, up 2 percent from $155,801; $165,310 in Nashville, up 12.3 percent from $147,171; and $112,536 in Central Arkansas, including Jonesboro, Ark., down 11.7 percent from $127,464. The real estate market is entering its peak, selling season for residential real estate. "Increased home sales during the first quarter nationally, as recently reported by the National Association of Realtors, and within our company are good indicators that home sales activity will remain strong this summer," notes President Dick Leike. "A climb in home sales illustrates that despite the Federal Reserve Bank raising short-term interest rates (designed to keep inflation in check), historically long-term rates that influence home mortgage rates are continuing to spur home sales." Looking ahead, CEO Harold Crye agrees that a slowly rising interest rate will not put the real estate market at risk but rather will further act as an agent of balance. " A one-percent increase, which is possible if not likely, would have little to no impact on the industry," says Crye. "A three-percent increase would take out payment-conscious first-time buyers who account for about 40 percent of the real estate market, which would, in turn, impact all activity up the price chain." Crye-Leike's disclosed first quarter sales figures for 2005 include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 88 branch and franchise offices in operation during 2005 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. discloses sales volume in the first quarter of 2005 at $ 78.2 million, up 150 percent from $31.3 million in the same quarter last year. Units sold totaled 469, up 163.5 percent compared to 178 units closed from same-quarter results a year earlier. Local sales volume in March of this year was $34 million, a a 125.2 percent increase from $15 million over comparable monthly results last year. These figures represent 212 real estate closings in March, a 136 percent increase from 90 closings reported fro the same period last year. First-quarter franchise sales in 2005 as reported by Crye*Leike Franchises, Inc. represent 16 Crye-Leike franchise offices currently in full operation. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 26 independently owned and operated franchise brokers who are located in 24 counties within six territories of the United States in Tennessee, Arkansas, Georgia, Mississippi, Kentucky and Florida. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 88 branch and franchise offices located in 46 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com. Crye-Leike's Web site is the source for real estate, with over 2 million properties nationwide posted for sale.    

Memphis, Tenn. - Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, reports strong across-the-board sales activity due to favorable market conditions as disclosed in its first quarter sales report. "The appeal of homeownership as a sound investment continues to drive the housing market as our company's sales reflect a new all-time record," says Harold E. Crye, chief executive officer. "Mortgage rates, employment, household income and other favorable market conditions continue to drive demand, which we predict will keep Crye-Leike's sales steady and very close to last year's record of $4.6 billion." Memphis-based Crye-Leike, Realtors reports first quarter sales company wide in 2005 up 23.3 percent over the same quarter a year prior. First quarter sales totaled $1.02 billion, up from $830.2 million in the same quarter last year. Units sold totaled 6,458, up 13.8 percent compared to 5,676 a year prior. For the month of March, the real estate giant reports that all of its regions had sales of $423.2 million, up 23 percent from $345.3 million last year. These figures represent 2,768 units sold in March, up 18 percent from 2,345 for the same period last year. The average residential sales prices in March 2005 for Crye-Leike's major metro areas compared to March 2004 were: $152,611 in Chattanooga, a 15 percent increase from $132,722; $158,615 in Memphis, up 2 percent from $155,801; $165,310 in Nashville, up 12.3 percent from $147,171; and $112,536 in Central Arkansas, including Jonesboro, Ark., down 11.7 percent from $127,464. The real estate market is entering its peak, selling season for residential real estate. "Increased home sales during the first quarter nationally, as recently reported by the National Association of Realtors, and within our company are good indicators that home sales activity will remain strong this summer," notes President Dick Leike. "A climb in home sales illustrates that despite the Federal Reserve Bank raising short-term interest rates (designed to keep inflation in check), historically long-term rates that influence home mortgage rates are continuing to spur home sales." Looking ahead, CEO Harold Crye agrees that a slowly rising interest rate will not put the real estate market at risk but rather will further act as an agent of balance. " A one-percent increase, which is possible if not likely, would have little to no impact on the industry," says Crye. "A three-percent increase would take out payment-conscious first-time buyers who account for about 40 percent of the real estate market, which would, in turn, impact all activity up the price chain." Crye-Leike's disclosed first quarter sales figures for 2005 include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 88 branch and franchise offices in operation during 2005 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. The reports on the following pages disclose 2005 sales totals for Crye-Leike's four regional hub offices in Little Rock (Central Arkansas Region), Chattanooga (East Tennessee Region), Nashville (Middle Tennessee Region), and Memphis (West Tennessee Region) as well as within its franchise territories in Tenn., Ark., Fla., Ky., Miss. CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike reports regional sales volume in Arkansas at $112.43 million in the first quarter of this year, up 47 percent from $76.5 million in the same quarter a year prior. Units sold totaled 915, up 37 percent compared to 667 a year earlier. The month of March this year showed a local sales volume of $45.5 million, a strong 42 percent increase from $32.1 million over comparable monthly results last year. There were 404 real estate closings in March, a 60.3 percent increase from 252 closings reported for the same period last year. May 2005 marks the third year in which Crye-Leike expanded its market presence into Central Arkansas by opening its fourth regional hub office in Little Rock, joining Memphis, Nashville and Chattanooga in Tennessee. During that time period, nine additional branch offices have opened in the Little Rock Region to join Crye-Leike's sales efforts in West Memphis and Jonesboro, strategic moves that have escalated Crye-Leike sales in Arkansas by double digit rates. Plans for future growth include the opening of an office in Cabot, Ark. as well as expansion of some existing offices. Crye-Leike's first quarter report for its Arkansas Region includes sales in and around Craighead, Faulkner, Garland, Pulaski and Saline counties. Crye-Leike of Arkansas, Inc. has a sales force of over 280 sales associates who are located in 11 branch offices in Arkansas. Its branch offices are conveniently located in Benton, Bryant, Conway, Hot Springs, Jonesboro, Little Rock (2), Maumelle, North Little Rock, West Little Rock and its newest addition, Cabot. CRYE-LEIKE'S WEST TENNESSEE REGION. Crye-Leike, Inc. reports record months during January, February and March 2005 for closed business in its West Tennessee Region, including Mississippi. Crye-Leike, Inc. reports first quarter sales of this year for its West Tennessee Region at $418 million, representing 2,531 units sold, up 5 percent from $399.8 million, in the same quarter a year prior. Local sales volume in March of this year was $174.3 million, up 4 percent from last March. These figures represent 1,099 closings, a 2.2 percent increase from the same period last year. Sales reported by Crye-Leike, Inc. (Memphis) includes sales in the Greater Memphis area, including West Memphis, Ark. and Olive Branch, Hernando, Southaven and Tupelo, Miss. Crye-Leike, Inc. in Memphis has a sales force of over 1,200 sales associates who are located in 21 branch offices in four counties throughout its West Tennessee Region. Those counties include: Shelby County in Tennessee and DeSoto and Lee counties in Mississippi, including Crittenden County in Arkansas. CRYE-LEIKE'S MIDDLE TENNESSEE REGION. Crye-Leike of Nashville reports record months during January, February and March 2005 for closed business in its Middle Tennessee Region. First quarter sales of this year for its Middle Tennessee Region were $276.3 million, representing 1,668 in units sold and up 10.2 percent from $251.5 million in the same quarter a year prior. Local sales volume in March of this year was $114.6 million, up 7.3 percent from last March, representing 693 closings. Sales reported by Crye-Leike of Nashville, Inc. includes sales in eight counties surrounding the Greater Nashville metropolitan area. Crye-Leike of Nashville, Inc. has a sales force of over 800 sales associates who are located in 19 branch offices in eight counties throughout its Middle Tennessee Region, located in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties. CRYE-LEIKE'S EAST TENNESSEE REGION. Crye-Leike of Chattanooga reports record months during January, February and March 2005 for closed business in its East Tennessee Region. Sales volume in the first quarter of this year totaled $138.6 million, up a healthy 36 percent from $102.3 million in the same quarter last year. Units sold totaled 875, up 17.5 percent compared to 745 units closed the same-quarter results a year earlier. Local sales volume in March of this year was $55 million, up 44 percent from last March. These figures represent 360 closings, a 25 percent increase from the same period last year. Sales reported by Crye-Leike of Chattanooga, Inc. includes sales in five counties surrounding the Greater Chattanooga metropolitan area, including Johnson City, Tenn. in Washington County and Fort Oglethorpe, Ga. in Catoosa County. Crye-Leike of Chattanooga, Inc. has a sales force of over 390 sales associates who are located in nine branch offices in five counties within its East Tennessee Region in Bradley, Hamilton, McMinn and Washington counties, including Catoosa County in North Georgia. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. discloses sales volume in the first quarter of 2005 at $ 78.2 million, up 150 percent from $31.3 million in the same quarter last year. Units sold totaled 469, up 163.5 percent compared to 178 units closed from same-quarter results a year earlier. Local sales volume in March of this year was $34 million, a a 125.2 percent increase from $15 million over comparable monthly results last year. These figures represent 212 real estate closings in March, a 136 percent increase from 90 closings reported fro the same period last year. First-quarter franchise sales in 2005 as reported by Crye*Leike Franchises, Inc. represent 16 Crye-Leike franchise offices currently in full operation. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 26 independently owned and operated franchise brokers who are located in 24 counties within six territories of the United States in Tennessee, Arkansas, Georgia, Mississippi, Kentucky and Florida. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 88 branch and franchise offices located in 46 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com. Crye-Leike's Web site is the source for real estate, with over 2 million properties nationwide posted for sale.  

CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike reports regional sales volume in Arkansas at $112.43 million in the first quarter of this year, up 47 percent from $76.5 million in the same quarter a year prior. Units sold totaled 915, up 37 percent compared to 667 a year earlier. The month of March this year showed a local sales volume of $45.5 million, a strong 42 percent increase from $32.1 million over comparable monthly results last year. There were 404 real estate closings in March, a 60.3 percent increase from 252 closings reported for the same period last year. May 2005 marks the third year in which Crye-Leike expanded its market presence into Central Arkansas by opening its fourth regional hub office in Little Rock, joining Memphis, Nashville and Chattanooga in Tennessee. During that time period, nine additional branch offices have opened in the Little Rock Region to join Crye-Leike's sales efforts in West Memphis and Jonesboro, strategic moves that have escalated Crye-Leike sales in Arkansas by double digit rates. Plans for future growth include the opening of an office in Cabot, Ark. as well as expansion of some existing offices. Crye-Leike's first quarter report for its Arkansas Region includes sales in and around Craighead, Faulkner, Garland, Pulaski and Saline counties. Crye-Leike of Arkansas, Inc. has a sales force of over 280 sales associates who are located in 11 branch offices in Arkansas. Its branch offices are conveniently located in Benton, Bryant, Conway, Hot Springs, Jonesboro, Little Rock (2), Maumelle, North Little Rock, West Little Rock and its newest addition, Cabot. CRYE-LEIKE'S FIRST QUARTER RAISES THE BAR IN REAL ESTATE SALES Memphis, Tenn. - Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, reports strong across-the-board sales activity due to favorable market conditions as disclosed in its first quarter sales report. "The appeal of homeownership as a sound investment continues to drive the housing market as our company's sales reflect a new all-time record," says Harold E. Crye, chief executive officer. "Mortgage rates, employment, household income and other favorable market conditions continue to drive demand, which we predict will keep Crye-Leike's sales steady and very close to last year's record of $4.6 billion." Memphis-based Crye-Leike, Realtors reports first quarter sales company wide in 2005 up 23.3 percent over the same quarter a year prior. First quarter sales totaled $1.02 billion, up from $830.2 million in the same quarter last year. Units sold totaled 6,458, up 13.8 percent compared to 5,676 a year prior. For the month of March, the real estate giant reports that all of its regions had sales of $423.2 million, up 23 percent from $345.3 million last year. These figures represent 2,768 units sold in March, up 18 percent from 2,345 for the same period last year. The average residential sales prices in March 2005 for Crye-Leike's major metro areas compared to March 2004 were: $152,611 in Chattanooga, a 15 percent increase from $132,722; $158,615 in Memphis, up 2 percent from $155,801; $165,310 in Nashville, up 12.3 percent from $147,171; and $112,536 in Central Arkansas, including Jonesboro, Ark., down 11.7 percent from $127,464. The real estate market is entering its peak, selling season for residential real estate. "Increased home sales during the first quarter nationally, as recently reported by the National Association of Realtors, and within our company are good indicators that home sales activity will remain strong this summer," notes President Dick Leike. "A climb in home sales illustrates that despite the Federal Reserve Bank raising short-term interest rates (designed to keep inflation in check), historically long-term rates that influence home mortgage rates are continuing to spur home sales." Looking ahead, CEO Harold Crye agrees that a slowly rising interest rate will not put the real estate market at risk but rather will further act as an agent of balance. " A one-percent increase, which is possible if not likely, would have little to no impact on the industry," says Crye. "A three-percent increase would take out payment-conscious first-time buyers who account for about 40 percent of the real estate market, which would, in turn, impact all activity up the price chain." Crye-Leike's disclosed first quarter sales figures for 2005 include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 88 branch and franchise offices in operation during 2005 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. discloses sales volume in the first quarter of 2005 at $ 78.2 million, up 150 percent from $31.3 million in the same quarter last year. Units sold totaled 469, up 163.5 percent compared to 178 units closed from same-quarter results a year earlier. Local sales volume in March of this year was $34 million, a a 125.2 percent increase from $15 million over comparable monthly results last year. These figures represent 212 real estate closings in March, a 136 percent increase from 90 closings reported fro the same period last year. First-quarter franchise sales in 2005 as reported by Crye*Leike Franchises, Inc. represent 16 Crye-Leike franchise offices currently in full operation. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 26 independently owned and operated franchise brokers who are located in 24 counties within six territories of the United States in Tennessee, Arkansas, Georgia, Mississippi, Kentucky and Florida. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 88 branch and franchise offices located in 46 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from REAL Trends, Inc., the leading provider of information and analysis for the residential real estate industry. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com. Crye-Leike's Web site is the source for real estate, with over 2 million properties nationwide posted for sale.  

CRYE-LEIKE'S WEST TENNESSEE REGION. Crye-Leike's West Tennessee Region had its best year ever since the founding of the company 27 years ago. Company officials attribute the growth in sales to the addition of branch offices in Arlington, East Memphis and Downtown Memphis within the past three years as well as to the expansion of its existing Collierville office. Sales reported by Crye-Leike, Inc. (Memphis) includes sales from the Greater Memphis area, including West Memphis, Ark. and Olive Branch, Hernando, Southaven and Tupelo, Miss. The company reports year-end sales volume in the Greater Memphis area at $2.1 billion in 2004, up 16 percent from $1.8 billion through 2003. Year-end closings were 12,690, up 6.6 percent over comparable year-end results in 2003. Fourth-quarter sales of $478.5 million in 2004 represent an 11.2 percent increase over same-quarter results a year prior. Its 2,982 property sales in the fourth quarter of 2004 represent a .5 percent decrease over 2,996 sales a year prior. Crye-Leike, Inc. in Memphis has a sales force of over 1,200 sales associates who are located in 21 branch offices in four counties throughout its West Tennessee Region. Those counties include: Shelby County in Tennessee and DeSoto and Lee counties in Mississippi, including Crittenden County in Arkansas. CRYE-LEIKE POSTS RECORD BREAKING SALES OF OVER $4.6 BILLION IN 2004 Memphis, Tenn. - Tennessee-based Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, posted a record sales year of over $4.6 billion in 2004, the highest sales performance in company history and a growth pattern Crye-Leike has consistently repeated over the past 27 years. Crye-Leike officials made this announcement to its 2,800-plus sales associates at the company's annual meetings held January 2005 in its Memphis, Nashville, Chattanooga and Little Rock regional markets. Crye-Leike reported $4.61 billion in total sales company wide in 2004, up 26 percent from $3.66 billion through Dec. 2003. These 2004 figures represent Crye-Leike's sales associates handling 29,581 closings within a six-state region, an 18.5 percent increase from the 24,953 closings reported through Dec. 2003. To put Crye-Leike's $4.6 billion sales figure into perspective, that represents its 2,800-plus sales associates selling real estate every 6 minutes during an eight-hour work day and generating over $12.6 million in sales every day of the year, notes the company's Chief Executive Officer Harold Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "As a nation, real estate enjoyed a prosperous year with low mortgage interest rates and an environment of job growth and economic improvement," says Crye, "and Crye-Leike benefited from that. We achieved our best year ever also because of the way in which our team of agents and management do business, providing our customers quality service and a ?one-stop shopping' experience." "Our company is proud to have helped 29,581 families realize the dream of homeownership," says Leike. "Homeownership will continue to be the soundest investment most families will ever make." "Buying and selling real estate can be a daunting task for consumers," says Leike. "We have bundled all the services needed to complete a real estate transaction under one roof so the buyer and seller have a seamless experience and our sales associates and staff can offer and provide our customers with a complete marketing package." Leike says that the company's most powerful marketing tool is how Crye-Leike embraces technology with its Web site, www.crye-leike.com, which registers over 20 million hits a month. Crye-Leike's business model offers its customers a full spectrum of real estate services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; business brokerage services; REO - bank owned homes; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For services outside Crye-Leike's realm of expertise, the company has developed business partnerships to facilitate the buying and selling process and to foster an atmosphere of cooperation, says Leike. Such service partners include those with First Trust Bank for Savings for mortgage lending services where a mortgage representative is found in almost every branch office of Crye-Leike and American Home Shield as Crye-Leike's single source for home warranties. Edging toward $5 Billion in sales. "Crye-Leike is a strong, viable company that continues to grow and our track record proves it," says Crye. "We outperformed the market in each of our regions. Sales records were broken and rose by double-digit rates in all our regional markets, in fact, larger than we projected." Fourth quarter. Crye-Leike reports $1.11 billion in sales during the fourth quarter of 2004, a 24.4 percent increase over $892.7 million this same period in 2003. These figures represent 7,137 units sold during the fourth quarter in 2004, a 14 percent increase from 6,252 closings reported for the same period in 2003. Average residential sales prices. Average residential sales prices in December 2004 for Crye-Leike's major metro areas compared to December 2003 were: $149,584 in Chattanooga, up 14.3 percent from $130,828; $137,757 in Little Rock, Ark., up 39 percent from $ 99,373; $165,651 in Memphis, up 16 percent from $142,655; and $162,984 in Nashville, down 5.5 percent from $172,434. Crye-Leike's 2004 sales figures include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 79 branch and franchise offices in operation during 2004 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. The reports on the following pages disclose 2004 sales totals for Crye-Leike's four regional hub offices in Little Rock (Central Arkansas Region), Chattanooga (East Tennessee Region), Nashville (Middle Tennessee Region), and Memphis (West Tennessee Region) as well as within its franchise territories in Tenn., Ark., Fla., Ky., Miss. Total sales rose by double-digit rates in all regions. CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike expanded its regional headquarters into Central Arkansas during the second quarter of 2002, a move that has escalated company sales six-fold in Arkansas since establishing a Jonesboro office in 1999. "We continue to see Little Rock as a growth market for our company, providing our Crye-Leike customers with state-of-the-art services that are not readily available in that area, " said Harold E. Crye, chief executive officer and general manager of Crye-Leike of Arkansas, Inc. Sales reported by Crye-Leike of Arkansas, Inc. includes sales from its 10 corporate offices within Crye-Leike's Central Arkansas Region, including Jonesboro. Year-end sales volume in 2004 for Crye-Leike of Arkansas, Inc. totaled $419.17 million, up 89 percent from $221.6 million through 2003. These figures represent 3,496 in property sales, a 90 percent increase over comparable year-end results in 2003. Crye-Leike of Arkansas, Inc. reported fourth-quarter sales at $106.8 million in 2004, representing a 60 percent increase over same-quarter results a year prior. Its 840 real estate property sales in the fourth quarter of 2004 represent a 44 percent increase over comparable quarterly results a year prior. Crye-Leike of Arkansas, Inc. has a sales force of over 250 sales associates who are located in 10 branch offices within five counties in Arkansas: Craighead, Faulkner, Garland, Pulaski and Saline. Its branch offices are conveniently located in Benton, Bryant, Conway, Hot Springs, Jonesboro, Little Rock (2), Maumelle, North Little Rock and West Little Rock. CRYE-LEIKE'S MIDDLE TENNESSEE REGION. Crye-Leike's Middle Tennessee Region had its best sales performance ever since the company entered the Nashville real estate market 12 years ago. Sales reported by Crye-Leike of Nashville, Inc. includes sales in eight counties surrounding the Greater Nashville metropolitan area. Crye-Leike of Nashville's year-end sales volume totaled $1.4 billion, up 20.2 percent from $1.1 billion through 2003. These figures represent 8,459 closings in 2004 by its 800-plus sales associates in an eight-county mid-state region. Crye-Leike of Nashville, Inc. disclosed $ 305 million in sales volume during the fourth quarter of 2004, up 11 percent, and 1,902 in unit sales, up 5.4 percent from same-quarter results a year earlier. Crye-Leike of Nashville, Inc. has a sales force of over 800 sales associates who are located in 19 branch offices in eight counties throughout its Middle Tennessee Region, located in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties. CRYE-LEIKE'S EAST TENNESSEE REGION. Sales in Crye-Leike's East Tennessee Region has consistently maintained record-breaking sales for the past seven years since its establishment in the Greater Chattanooga area in 1997. Sales reported by Crye-Leike of Chattanooga, Inc. includes sales in five counties surrounding the Greater Chattanooga metropolitan area, including Johnson City, Tenn. in Washington County and Fort Oglethorpe, Ga. in Catoosa County. Crye-Leike of Chattanooga's year-end sales volume totaled $573.6 million, up 16 percent, and property sales totaled 4,000, a 7 percent increase from the sales reported through 2003. Sales volume in the fourth quarter totaled $142.8 million, up 26 percent from same-quarter results a year earlier, representing 986 in unit sales, up 14 percent from same-quarter results a year earlier. Crye-Leike of Chattanooga, Inc. has a sales force of over 350 sales associates who are located in nine branch offices in five counties within its East Tennessee Region in Bradley, Hamilton, McMinn and Washington counties, including Catoosa County in North Georgia. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. disclosed 2004 sales volume in the fourth quarter at $ 77 million. Fourth-quarter unit sales totaled 427. Year-to-date sales volume totaled $237.8 million, representing 1,362 units sold. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 22 independently owned and operated franchise brokers who are located in 20 counties within five territories of the United States in Tennessee, Arkansas, Mississippi, Kentucky and Florida. Those Crye-Leike franchise offices are located in: Tennessee -Cumberland, Greene, Grundy, Hardin, Madison, Meigs, Putnam, Rhea, Roane and Sevier counties; Arkansas - Independence and Mississippi counties; Mississippi - Lowndes, Marshall, Oktibbeha and Union counties; Kentucky - Warren County; and, Florida - Bay, Okaloosa and Walton counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 81 branch and franchise offices located in 42 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry.    

CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike expanded its regional headquarters into Central Arkansas during the second quarter of 2002, a move that has escalated company sales six-fold in Arkansas since establishing a Jonesboro office in 1999. "We continue to see Little Rock as a growth market for our company, providing our Crye-Leike customers with state-of-the-art services that are not readily available in that area, " said Harold E. Crye, chief executive officer and general manager of Crye-Leike of Arkansas, Inc. Sales reported by Crye-Leike of Arkansas, Inc. includes sales from its 10 corporate offices within Crye-Leike's Central Arkansas Region, including Jonesboro. Year-end sales volume in 2004 for Crye-Leike of Arkansas, Inc. totaled $419.17 million, up 89 percent from $221.6 million through 2003. These figures represent 3,496 in property sales, a 90 percent increase over comparable year-end results in 2003. Crye-Leike of Arkansas, Inc. reported fourth-quarter sales at $106.8 million in 2004, representing a 60 percent increase over same-quarter results a year prior. Its 840 real estate property sales in the fourth quarter of 2004 represent a 44 percent increase over comparable quarterly results a year prior. Crye-Leike of Arkansas, Inc. has a sales force of over 250 sales associates who are located in 10 branch offices within five counties in Arkansas: Craighead, Faulkner, Garland, Pulaski and Saline. Its branch offices are conveniently located in Benton, Bryant, Conway, Hot Springs, Jonesboro, Little Rock (2), Maumelle, North Little Rock and West Little Rock. CRYE-LEIKE COMPANYWIDE POSTS RECORD BREAKING SALES OF OVER $4.6 BILLION IN 2004. Tennessee-based Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, posted a record sales year of over $4.6 billion in 2004, the highest sales performance in company history and a growth pattern Crye-Leike has consistently repeated over the past 27 years. Crye-Leike officials made this announcement to its 2,800-plus sales associates at the company's annual meetings held January 2005 in its Memphis, Nashville, Chattanooga and Little Rock regional markets. Crye-Leike reported $4.61 billion in total sales company wide in 2004, up 26 percent from $3.66 billion through Dec. 2003. These 2004 figures represent Crye-Leike's sales associates handling 29,581 closings within a six-state region, an 18.5 percent increase from the 24,953 closings reported through Dec. 2003. To put Crye-Leike's $4.6 billion sales figure into perspective, that represents its 2,800-plus sales associates selling real estate every 6 minutes during an eight-hour work day and generating over $12.6 million in sales every day of the year, notes the company's Chief Executive Officer Harold Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "As a nation, real estate enjoyed a prosperous year with low mortgage interest rates and an environment of job growth and economic improvement," says Crye, "and Crye-Leike benefited from that. We achieved our best year ever also because of the way in which our team of agents and management do business, providing our customers quality service and a ?one-stop shopping' experience." "Our company is proud to have helped 29,581 families realize the dream of homeownership," says Leike. "Homeownership will continue to be the soundest investment most families will ever make" "Buying and selling real estate can be a daunting task for consumers," says Leike. "We have bundled all the services needed to complete a real estate transaction under one roof so the buyer and seller have a seamless experience and our sales associates and staff can offer and provide our customers with a complete marketing package." Leike says that the company's most powerful marketing tool is how Crye-Leike embraces technology with its Web site, www.crye-leike.com, which registers over 20 million hits a month. Crye-Leike's business model offers its customers a full spectrum of real estate services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; business brokerage services; REO- bank owned homes; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For services outside Crye-Leike's realm of expertise, the company has developed business partnerships to facilitate the buying and selling process and to foster an atmosphere of cooperation, says Leike. Such service partners include those with First Trust Bank for Savings for mortgage lending services where a mortgage representative is found in almost every branch office of Crye-Leike and American Home Shield as Crye-Leike's single source for home warranties. Edging toward $5 Billion in sales. "Crye-Leike is a strong, viable company that continues to grow and our track record proves it," says Crye. "We outperformed the market in each of our regions. Sales records were broken and rose by double-digit rates in all our regional markets, in fact, larger than we projected." Fourth quarter. Crye-Leike reports $1.11 billion in sales during the fourth quarter of 2004, a 24.4 percent increase over $892.7 million this same period in 2003. These figures represent 7,137 units sold during the fourth quarter in 2004, a 14 percent increase from 6,252 closings reported for the same period in 2003. Average residential sales prices. Average residential sales prices in December 2004 for Crye-Leike's major metro areas compared to December 2003 were: $149,584 in Chattanooga, up 14.3 percent from $130,828; $137,757 in Little Rock, Ark., up 39 percent from $ 99,373; $165,651 in Memphis, up 16 percent from $142,655; and $162,984 in Nashville, down 5.5 percent from $172,434. Crye-Leike's 2004 sales figures include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 79 branch and franchise offices in operation during 2004 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. disclosed 2004 sales volume in the fourth quarter at $ 77 million. Fourth-quarter unit sales totaled 427. Year-to-date sales volume totaled $237.8 million, representing 1,362 units sold. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 22 independently owned and operated franchise brokers who are located in 20 counties within five territories of the United States in Tennessee, Arkansas, Mississippi, Kentucky and Florida. Those Crye-Leike franchise offices are located in: Tennessee -Cumberland, Greene, Grundy, Hardin, Madison, Meigs, Putnam, Rhea, Roane and Sevier counties; Arkansas - Independence and Mississippi counties; Mississippi - Lowndes, Marshall, Oktibbeha and Union counties; Kentucky - Warren County; and, Florida - Bay, Okaloosa and Walton counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 81 corporate and franchise offices located in 42 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry.    

CRYE-LEIKE'S MIDDLE TENNESSEE REGION. Crye-Leike's Middle Tennessee Region had its best sales performance ever since the company entered the Nashville real estate market 12 years ago. Sales reported by Crye-Leike of Nashville, Inc. includes sales in eight counties surrounding the Greater Nashville metropolitan area. Crye-Leike of Nashville's year-end sales volume totaled $1.4 billion, up 20.2 percent from $1.1 billion through 2003. These figures represent 8,459 closings in 2004 by its 800-plus sales associates in an eight-county mid-state region. Crye-Leike of Nashville, Inc. disclosed $ 305 million in sales volume during the fourth quarter of 2004, up 11 percent, and 1,902 in unit sales, up 5.4 percent from same-quarter results a year earlier. Crye-Leike of Nashville, Inc. has a sales force of over 800 sales associates who are located in 19 branch offices in eight counties throughout its Middle Tennessee Region, located in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties. CRYE-LEIKE POSTS RECORD BREAKING SALES OF OVER $4.6 BILLION IN 2004. Memphis, Tenn. - Tennessee-based Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, posted a record sales year of over $4.6 billion in 2004, the highest sales performance in company history and a growth pattern Crye-Leike has consistently repeated over the past 27 years. Crye-Leike officials made this announcement to its 2,800-plus sales associates at the company's annual meetings held January 2005 in its Memphis, Nashville, Chattanooga and Little Rock regional markets. Crye-Leike reported $4.61 billion in total sales company wide in 2004, up 26 percent from $3.66 billion through Dec. 2003. These 2004 figures represent Crye-Leike's sales associates handling 29,581 closings within a six-state region, an 18.5 percent increase from the 24,953 closings reported through Dec. 2003. To put Crye-Leike's $4.6 billion sales figure into perspective, that represents its 2,800-plus sales associates selling real estate every 6 minutes during an eight-hour work day and generating over $12.6 million in sales every day of the year, notes the company's Chief Executive Officer Harold Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "As a nation, real estate enjoyed a prosperous year with low mortgage interest rates and an environment of job growth and economic improvement," says Crye, "and Crye-Leike benefited from that. We achieved our best year ever also because of the way in which our team of agents and management do business, providing our customers quality service and a ?one-stop shopping' experience." "Our company is proud to have helped 29,581 families realize the dream of homeownership," says Leike. "Homeownership will continue to be the soundest investment most families will ever make" "Buying and selling real estate can be a daunting task for consumers," says Leike. "We have bundled all the services needed to complete a real estate transaction under one roof so the buyer and seller have a seamless experience and our sales associates and staff can offer and provide our customers with a complete marketing package." Leike says that the company's most powerful marketing tool is how Crye-Leike embraces technology with its Web site, www.crye-leike.com, which registers over 20 million hits a month. Crye-Leike's business model offers its customers a full spectrum of real estate services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; business brokerage services; REO - bank owned homes; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For services outside Crye-Leike's realm of expertise, the company has developed business partnerships to facilitate the buying and selling process and to foster an atmosphere of cooperation, says Leike. Such service partners include those with First Trust Bank for Savings for mortgage lending services where a mortgage representative is found in almost every branch office of Crye-Leike and American Home Shield as Crye-Leike's single source for home warranties. Edging toward $5 Billion in sales. "Crye-Leike is a strong, viable company that continues to grow and our track record proves it," says Crye. "We outperformed the market in each of our regions. Sales records were broken and rose by double-digit rates in all our regional markets, in fact, larger than we projected." Fourth quarter. Crye-Leike reports $1.11 billion in sales during the fourth quarter of 2004, a 24.4 percent increase over $892.7 million this same period in 2003. These figures represent 7,137 units sold during the fourth quarter in 2004, a 14 percent increase from 6,252 closings reported for the same period in 2003. Average residential sales prices. Average residential sales prices in December 2004 for Crye-Leike's major metro areas compared to December 2003 were: $149,584 in Chattanooga, up 14.3 percent from $130,828; $137,757 in Little Rock, Ark., up 39 percent from $ 99,373; $165,651 in Memphis, up 16 percent from $142,655; and $162,984 in Nashville, down 5.5 percent from $172,434. Crye-Leike's 2004 sales figures include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 79 branch and franchise offices in operation during 2004 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. disclosed 2004 sales volume in the fourth quarter at $ 77 million. Fourth-quarter unit sales totaled 427. Year-to-date sales volume totaled $237.8 million, representing 1,362 units sold. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 22 independently owned and operated franchise brokers who are located in 20 counties within five territories of the United States in Tennessee, Arkansas, Mississippi, Kentucky and Florida. Those Crye-Leike franchise offices are located in: Tennessee -Cumberland, Greene, Grundy, Hardin, Madison, Meigs, Putnam, Rhea, Roane and Sevier counties; Arkansas - Independence and Mississippi counties; Mississippi - Lowndes, Marshall, Oktibbeha and Union counties; Kentucky - Warren County; and, Florida - Bay, Okaloosa and Walton counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 81 corporate and franchise offices located in 42 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry.  

CRYE-LEIKE'S EAST TENNESSEE REGION. Sales in Crye-Leike's East Tennessee Region has consistently maintained record-breaking sales for the past seven years since its establishment in the Greater Chattanooga area in 1997. Sales reported by Crye-Leike of Chattanooga, Inc. includes sales in five counties surrounding the Greater Chattanooga metropolitan area, including Johnson City, Tenn. in Washington County and Fort Oglethorpe, Ga. in Catoosa County. Crye-Leike of Chattanooga's year-end sales volume totaled $573.6 million, up 16 percent, and property sales totaled 4,000, a 7 percent increase from the sales reported through 2003. Sales volume in the fourth quarter totaled $142.8 million, up 26 percent from same-quarter results a year earlier, representing 986 in unit sales, up 14 percent from same-quarter results a year earlier. Crye-Leike of Chattanooga, Inc. has a sales force of over 350 sales associates who are located in nine branch offices in five counties within its East Tennessee Region in Bradley, Hamilton, McMinn and Washington counties, including Catoosa County in North Georgia. CRYE-LEIKE POSTS RECORD BREAKING SALES OF OVER $4.6 BILLION IN 2004. Tennessee-based Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, posted a record sales year of over $4.6 billion in 2004, the highest sales performance in company history and a growth pattern Crye-Leike has consistently repeated over the past 27 years. Crye-Leike officials made this announcement to its 2,800-plus sales associates at the company's annual meetings held January 2005 in its Memphis, Nashville, Chattanooga and Little Rock regional markets. Crye-Leike reported $4.61 billion in total sales company wide in 2004, up 26 percent from $3.66 billion through Dec. 2003. These 2004 figures represent Crye-Leike's sales associates handling 29,581 closings within a six-state region, an 18.5 percent increase from the 24,953 closings reported through Dec. 2003. To put Crye-Leike's $4.6 billion sales figure into perspective, that represents its 2,800-plus sales associates selling real estate every 6 minutes during an eight-hour work day and generating over $12.6 million in sales every day of the year, notes the company's Chief Executive Officer Harold Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "As a nation, real estate enjoyed a prosperous year with low mortgage interest rates and an environment of job growth and economic improvement," says Crye, "and Crye-Leike benefited from that. We achieved our best year ever also because of the way in which our team of agents and management do business, providing our customers quality service and a ?one-stop shopping' experience." "Our company is proud to have helped 29,581 families realize the dream of homeownership," says Leike. "Homeownership will continue to be the soundest investment most families will ever make" "Buying and selling real estate can be a daunting task for consumers," says Leike. "We have bundled all the services needed to complete a real estate transaction under one roof so the buyer and seller have a seamless experience and our sales associates and staff can offer and provide our customers with a complete marketing package." Leike says that the company's most powerful marketing tool is how Crye-Leike embraces technology with its Web site, www.crye-leike.com, which registers over 20 million hits a month. Crye-Leike's business model offers its customers a full spectrum of real estate services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; business brokerage services; REO - bank owned homes; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For services outside Crye-Leike's realm of expertise, the company has developed business partnerships to facilitate the buying and selling process and to foster an atmosphere of cooperation, says Leike. Such service partners include those with First Trust Bank for Savings for mortgage lending services where a mortgage representative is found in almost every branch office of Crye-Leike and American Home Shield as Crye-Leike's single source for home warranties. Edging toward $5 Billion in sales. "Crye-Leike is a strong, viable company that continues to grow and our track record proves it," says Crye. "We outperformed the market in each of our regions. Sales records were broken and rose by double-digit rates in all our regional markets, in fact, larger than we projected." Fourth quarter. Crye-Leike reports $1.11 billion in sales during the fourth quarter of 2004, a 24.4 percent increase over $892.7 million this same period in 2003. These figures represent 7,137 units sold during the fourth quarter in 2004, a 14 percent increase from 6,252 closings reported for the same period in 2003. Average residential sales prices. Average residential sales prices in December 2004 for Crye-Leike's major metro areas compared to December 2003 were: $149,584 in Chattanooga, up 14.3 percent from $130,828; $137,757 in Little Rock, Ark., up 39 percent from $ 99,373; $165,651 in Memphis, up 16 percent from $142,655; and $162,984 in Nashville, down 5.5 percent from $172,434. Crye-Leike's 2004 sales figures include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 79 branch and franchise offices in operation during 2004 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. disclosed 2004 sales volume in the fourth quarter at $ 77 million. Fourth-quarter unit sales totaled 427. Year-to-date sales volume totaled $237.8 million, representing 1,362 units sold. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 22 independently owned and operated franchise brokers who are located in 20 counties within five territories of the United States in Tennessee, Arkansas, Mississippi, Kentucky and Florida. Those Crye-Leike franchise offices are located in: Tennessee -Cumberland, Greene, Grundy, Hardin, Madison, Meigs, Putnam, Rhea, Roane and Sevier counties; Arkansas - Independence and Mississippi counties; Mississippi - Lowndes, Marshall, Oktibbeha and Union counties; Kentucky - Warren County; and, Florida - Bay, Okaloosa and Walton counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 81 branch and franchise offices located in 42 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry.  

Memphis, Tenn. - Tennessee-based Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, posted a record sales year of over $4.6 billion in 2004, the highest sales performance in company history and a growth pattern Crye-Leike has consistently repeated over the past 27 years. Crye-Leike officials made this announcement to its 2,800-plus sales associates at the company's annual meetings held January 2005 in its Memphis, Nashville, Chattanooga and Little Rock regional markets. Crye-Leike reported $4.61 billion in total sales company wide in 2004, up 26 percent from $3.66 billion through Dec. 2003. These 2004 figures represent Crye-Leike's sales associates handling 29,581 closings within a six-state region, an 18.5 percent increase from the 24,953 closings reported through Dec. 2003. To put Crye-Leike's $4.6 billion sales figure into perspective, that represents its 2,800-plus sales associates selling real estate every 6 minutes during an eight-hour work day and generating over $12.6 million in sales every day of the year, notes the company's Chief Executive Officer Harold Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "As a nation, real estate enjoyed a prosperous year with low mortgage interest rates and an environment of job growth and economic improvement," says Crye, "and Crye-Leike benefited from that. We achieved our best year ever also because of the way in which our team of agents and management do business, providing our customers quality service and a ?one-stop shopping' experience." "Our company is proud to have helped 29,581 families realize the dream of homeownership," says Leike. "Homeownership will continue to be the soundest investment most families will ever make" "Buying and selling real estate can be a daunting task for consumers," says Leike. "We have bundled all the services needed to complete a real estate transaction under one roof so the buyer and seller have a seamless experience and our sales associates and staff can offer and provide our customers with a complete marketing package." Leike says that the company's most powerful marketing tool is how Crye-Leike embraces technology with its Web site, www.crye-leike.com, which registers over 20 million hits a month. Crye-Leike's business model offers its customers a full spectrum of real estate services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; business brokerage services; REO - bank owned homes; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For services outside Crye-Leike's realm of expertise, the company has developed business partnerships to facilitate the buying and selling process and to foster an atmosphere of cooperation, says Leike. Such service partners include those with First Trust Bank for Savings for mortgage lending services where a mortgage representative is found in almost every branch office of Crye-Leike and American Home Shield as Crye-Leike's single source for home warranties. Edging toward $5 Billion in sales. "Crye-Leike is a strong, viable company that continues to grow and our track record proves it," says Crye. "We outperformed the market in each of our regions. Sales records were broken and rose by double-digit rates in all our regional markets, in fact, larger than we projected." Fourth quarter. Crye-Leike reports $1.11 billion in sales during the fourth quarter of 2004, a 24.4 percent increase over $892.7 million this same period in 2003. These figures represent 7,137 units sold during the fourth quarter in 2004, a 14 percent increase from 6,252 closings reported for the same period in 2003. Average residential sales prices. Average residential sales prices in December 2004 for Crye-Leike's major metro areas compared to December 2003 were: $149,584 in Chattanooga, up 14.3 percent from $130,828; $137,757 in Little Rock, Ark., up 39 percent from $ 99,373; $165,651 in Memphis, up 16 percent from $142,655; and $162,984 in Nashville, down 5.5 percent from $172,434. Crye-Leike's 2004 sales figures include new and existing single-family homes, condos and duplexes as well as commercial properties within a six-state regional market area (Arkansas, Florida, Georgia, Kentucky, Mississippi and Tennessee). Sales figures also include production from 79 branch and franchise offices in operation during 2004 and represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. The reports on the following pages disclose 2004 sales totals for Crye-Leike's four regional hub offices in Little Rock (Central Arkansas Region), Chattanooga (East Tennessee Region), Nashville (Middle Tennessee Region), and Memphis (West Tennessee Region) as well as within its franchise territories in Tenn., Ark., Fla., Ky., Miss. Total sales rose by double-digit rates in all regions.   CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike expanded its regional headquarters into Central Arkansas during the second quarter of 2002, a move that has escalated company sales six-fold in Arkansas since establishing a Jonesboro office in 1999. "We continue to see Little Rock as a growth market for our company, providing our Crye-Leike customers with state-of-the-art services that are not readily available in that area," said Harold E. Crye, chief executive officer and general manager of Crye-Leike of Arkansas, Inc. Sales reported by Crye-Leike of Arkansas, Inc. includes sales from its 10 corporate offices within Crye-Leike's Central Arkansas Region, including Jonesboro. Year-end sales volume in 2004 for Crye-Leike of Arkansas, Inc. totaled $419.17 million, up 89 percent from $221.6 million through 2003. These figures represent 3,496 in property sales, a 90 percent increase over comparable year-end results in 2003. Crye-Leike of Arkansas, Inc. reported fourth-quarter sales at $106.8 million in 2004, representing a 60 percent increase over same-quarter results a year prior. Its 840 real estate property sales in the fourth quarter of 2004 represent a 44 percent increase over comparable quarterly results a year prior. Crye-Leike of Arkansas, Inc. has a sales force of over 250 sales associates who are located in 10 branch offices within five counties in Arkansas: Craighead, Faulkner, Garland, Pulaski and Saline. Its branch offices are conveniently located in Benton, Bryant, Conway, Hot Springs, Jonesboro, Little Rock (2), Maumelle, North Little Rock and West Little Rock.   CRYE-LEIKE'S WEST TENNESSEE REGION. Crye-Leike's West Tennessee Region had its best year ever since the founding of the company 27 years ago. Company officials attribute the growth in sales to the addition of branch offices in Arlington, East Memphis and Downtown Memphis within the past three years as well as to the expansion of its existing Collierville office. Sales reported by Crye-Leike, Inc. (Memphis) includes sales from the Greater Memphis area, including West Memphis, Ark. and Olive Branch, Hernando, Southaven and Tupelo, Miss. The company reports year-end sales volume in the Greater Memphis area at $2.1 billion in 2004, up 16 percent from $1.8 billion through 2003. Year-end closings were 12,690, up 6.6 percent over comparable year-end results in 2003. Fourth-quarter sales of $478.5 million in 2004 represent an 11.2 percent increase over same-quarter results a year prior. Its 2,982 property sales in the fourth quarter of 2004 represent a .5 percent decrease over 2,996 sales a year prior. Crye-Leike, Inc. in Memphis has a sales force of over 1,200 sales associates who are located in 21 branch offices in four counties throughout its West Tennessee Region. Those counties include: Shelby County in Tennessee and DeSoto and Lee counties in Mississippi, including Crittenden County in Arkansas.   CRYE-LEIKE'S MIDDLE TENNESSEE REGION. Crye-Leike's Middle Tennessee Region had its best sales performance ever since the company entered the Nashville real estate market 12 years ago. Sales reported by Crye-Leike of Nashville, Inc. includes sales in eight counties surrounding the Greater Nashville metropolitan area. Crye-Leike of Nashville's year-end sales volume totaled $1.4 billion, up 20.2 percent from $1.1 billion through 2003. These figures represent 8,459 closings in 2004 by its 800-plus sales associates in an eight-county mid-state region. Crye-Leike of Nashville, Inc. disclosed $ 305 million in sales volume during the fourth quarter of 2004, up 11 percent, and 1,902 in unit sales, up 5.4 percent from same-quarter results a year earlier. Crye-Leike of Nashville, Inc. has a sales force of over 800 sales associates who are located in 19 branch offices in eight counties throughout its Middle Tennessee Region, located in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties.   CRYE-LEIKE'S EAST TENNESSEE REGION. Sales in Crye-Leike's East Tennessee Region has consistently maintained record-breaking sales for the past seven years since its establishment in the Greater Chattanooga area in 1997. Sales reported by Crye-Leike of Chattanooga, Inc. includes sales in five counties surrounding the Greater Chattanooga metropolitan area, including Johnson City, Tenn. in Washington County and Fort Oglethorpe, Ga. in Catoosa County. Crye-Leike of Chattanooga's year-end sales volume totaled $573.6 million, up 16 percent, and property sales totaled 4,000, a 7 percent increase from the sales reported through 2003. Sales volume in the fourth quarter totaled $142.8 million, up 26 percent from same-quarter results a year earlier, representing 986 in unit sales, up 14 percent from same-quarter results a year earlier. Crye-Leike of Chattanooga, Inc. has a sales force of over 350 sales associates who are located in nine branch offices in five counties within its East Tennessee Region in Bradley, Hamilton, McMinn and Washington counties, including Catoosa County in North Georgia. CRYE-LEIKE'S FRANCHISES. Crye*Leike Franchises, Inc. disclosed 2004 sales volume in the fourth quarter at $ 77 million. Fourth-quarter unit sales totaled 427. Year-to-date sales volume totaled $237.8 million, representing 1,362 units sold. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 22 independently owned and operated franchise brokers who are located in 20 counties within five territories of the United States in Tennessee, Arkansas, Mississippi, Kentucky and Florida. Those Crye-Leike franchise offices are located in: Tennessee -Cumberland, Greene, Grundy, Hardin, Madison, Meigs, Putnam, Rhea, Roane and Sevier counties; Arkansas - Independence and Mississippi counties; Mississippi - Lowndes, Marshall, Oktibbeha and Union counties; Kentucky - Warren County; and, Florida - Bay, Okaloosa and Walton counties.   ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 28 years, has a network of over 2,800 sales associates and 81 branch and franchise offices located in 42 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 7 among the nation's 152 largest privately owned and independent real estate companies, according to statistics compiled from Real Trends, Inc., the leading provider of information and analysis for the residential real estate industry.  

Little Rock, Ark. - Tennessee-based Crye-Leike, Realtors was ranked among Arkansas' top 10 residential real estate firms as reported by Arkansas Business magazine. Crye-Leike's Arkansas operations, based out of Little Rock, generated sales of more than $260 million during 2003. That performance moved it to No. 4 statewide said the magazine, up from No. 11 based on sales of $11 million the previous year. Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, established Little Rock, Ark. as its fourth regional hub office in May 2002, joining Crye-Leike's other regional hub offices in Memphis, Nashville and Chattanooga, Tenn. Crye-Leike is the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South. Local analysts forecast Crye-Leike, Realtors to move up to No. 1 in Arkansas by year-end. Before the office was even furnished and only one agent recruited, the firm's chief executive officer Harold E. Crye predicted that his firm would become the largest residential real estate company in central Arkansas within three years. Now, with nine branch offices and over 250 agents in the central Arkansas area, Crye-Leike generated $284.74 million in sales volume through October of this year. When including two additional corporate offices in West Memphis and Jonesboro, Ark., along with two franchise offices in Batesville and Blytheville, Ark., Crye-Leike, then, has generated a total sales volume in Arkansas of $373.92 million through October 2004. At this record place, CEO Harold Crye foresees to reach his goal almost a year early. The Arkansas Democrat Gazette did a preliminary analysis over the first seven months of 2004 of the top residential real estate firms in a four-county area of central Arkansas - Garland, Faulkner, Pulaski and Saline counties. The city newspaper ranked Crye-Leike the largest at $194 million in sales volume, $78 million more than any other real estate firm in the four counties. It is a pattern Crye-Leike, the nation's 10th largest real estate firm, has repeated in other market regions. Crye-Leike (pronounced cry-like), founded in Memphis, Tenn. In 1977, became the largest firm there in three years. It became No. 1 in Nashville, Tenn. in one year, and No. 1 in Chattanooga, Tenn. in four years. Crye-Leike company wide has grown to 80 branch offices, including 21 franchise offices in Arkansas, Tennessee, Mississippi, Georgia, Kentucky and Florida. Its sales force of more than 2,850 sales associates generated a total of $3.7 billion in sales volume in 2003. Crye-Leike's Arkansas Region. has 10 branch offices and two franchise offices with a sales force of over 250 sales associates who market residential, commercial, investment property, farms and acreage sales in and around the counties of Craighead, Crittenden, Faulkner, Garland, Independence, Mississippi, Pulaski and Saline counties.  

Memphis, Tenn. - The weather may be cooling, but real estate sales are not for the nation's 10th largest real estate company. Tennessee-based Crye-Leike set another record-breaking quarter at $1.4 billion in sales, an increase of 25 percent over $1.1 billion this same period last year as disclosed in its third quarter sales report, announced company officials. This volume was generated on the sale of 8,408 properties handled by Crye-Leike's 2,850 sales associates and reflects the sales activity of its 79 branch and franchise offices, located in 41 counties throughout a six-state southern region in Tennessee, Arkansas, Florida, Kentucky, Mississippi and Georgia. The company's year-to-date sales volume grew to $3.6 billion, up 29 percent from $2.8 billion through September 2003. Year-to-date closings were 22,828, up 22.2 percent from the 18,701 closings reported through September 2003. Crye-Leike, which is celebrating its 27th year in business, reports that all of its market regions performed the highest quarterly and monthly sales records in the history of the company. "Crye-Leike's sales activity is considerably above last year's record, in part due to our expanded market presence in Arkansas and the public's desire to do business with a real estate firm that provides a one-stop shopping experience, including offering mortgage, insurance and title and escrow services," said Chief Executive Officer Harold E. Crye. "Our company's exceptionally strong sales performance, coupled with a favorable economy and affordability conditions, means Crye-Leike's sales record expected by year-end will be greater than originally projected." "Continued low interest rates and a stronger job market are fueling the economy, and that's a plus for buyers of real estate," said President Dick Leike. " These factors, along with our motivated sales force, also paved the way for these strong results." Crye-Leike's disclosed third quarter sales figures for 2004 include new and existing family homes, condos and duplexes as well as commercial properties within its four regional market areas: West Tennessee Region - Memphis; Middle Tennessee Region - Nashville; East Tenn. Region - Chattanooga; and Arkansas Region - Little Rock. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Following is a summary of third quarter sales results within Crye-Leike's four regional market areas.   CRYE-LEIKE INC. (WEST TENN. & MISSISSIPI REGIONS - Memphis, Tenn.)   Crye-Leike reports local sales volume in the Greater Memphis market area to be $642.4 million in the third quarter this year, up 17 percent from $547.7 million last year. Third-quarter unit sales totaled 3,584, up 3 percent from same-quarter results a year earlier. Year-to-date sales volume for Crye-Leike in the Greater Memphis area was $1.6 billion, up 17 percent from $1.4 billion through September 2003. Year-to-date closings were 9,709, which is a 9 percent increase from the 8,911 closings reported through September 2003. Crye-Leike's third quarter report for its West Tenn. Region includes sales in Shelby, Fayette and Tipton counties in Tennessee as well as those in DeSoto and Lee counties in Mississippi and Crittenden County, Ark. Memphis-based Crye-Leike has 21 branch offices in four counties throughout its West Tennessee Region. Those counties include Shelby County in Tennessee; and, DeSoto and Lee counties in Mississippi., including Crittenden County in Arkansas. Crye-Leike sales associates within its West Tennessee Region currently total over 1,200. Crye-Leike, Inc. is ranked No. 28 among the largest private companies in Memphis, and No. 23 among Memphis' fastest growing private companies. Additionally, it was ranked No. 21 among the largest 100 employers in Memphis. These rankings were based on gross revenues and tabulated by the Memphis Business Journal in Memphis, Tenn.   CRYE-LEIKE OF NASHVILLE (MIDDLE TENN. REGION - Nashville, Tenn.) In the Nashville metro area, Crye-Leike's third-quarter sales totaled $399.8 million, representing a 17 percent increase from $342.2 million reported for the same period last year. Its 2,329 real estate property sales in the third quarter this year was up 5 percent over the same quarter a year prior. Year-to-date sales volume for Crye-Leike of Nashville was $1.1 billion, up 24 percent from $848.4 million through 2003. These figures represent 6,557 in property sales, a 16 percent increase over comparable year-to-date results last year. Crye-Leike of Nashville, Inc. has 19 branch offices in eight counties throughout Middle Tennessee in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties.. Crye-Leike sales associates within its Middle Tenn. Region currently total over 800.   CRYE-LEIKE OF CHATTANOOGA (EAST TENN. REGION, including Johnson City & N. Ga.) Crye-Leike of Chattanooga disclosed its regional sales volume in Chattanooga to be $162.8 million in the third quarter of this year, up 11 percent, and property sales totaled 1,103, up 5 percent from sale-quarter results a year earlier. Year-to-date sales volume totaled $430.8 million, up 12 percent, and property sales totaled 3,014, a 5 percent increase from the sales reported through 2003. Crye-Leike of Chattanooga, Inc. has nine branch offices in five counties throughout its East Tennessee Region in Bradley, Hamilton, McMinn and Washington counties, including Catoosa County in North Georgia. Crye-Leike sales associates within its East Tennessee Region currently total over 350.   CRYE-LEIKE OF ARKANSAS (LITTLE ROCK REGION - Little Rock & Jonesboro, Ark.) Crye-Leike of Arkansas Inc. disclosed a record 2004 sales volume in the third quarter at $117.2 million, up 69 percent from $69.3 million last year. Third-quarter unit sales totaled 1,008, up 81 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $312.4 million, representing 2,656 units sold, a 112 percent increase from sales reported through 2003. Crye-Leike of Arkansas, Inc. has 10 branch offices in five counties throughout its Arkansas Region in Craighead, Faulkner, Garland, Pulaski and Saline counties. Crye-Leike sales associates within its Arkansas Region currently total over 250. Crye-Leike is ranked No. 4 statewide among Arkansas' top real estate firms, as ranked by Arkansas Business.   CRYE-LEIKE FRANCHISES, INC. (TENN., ARK., MISS., KY. AND FLA.) Crye*Leike Franchises, Inc. disclosed 2004 sales volume in the third quarter at $64.6 million. Third-quarter unit sales totaled 384. Year-to-date sales volume totaled $160.3 million, representing 914 units sold. Crye*Leike Franchises (www.crye-leike.com/franchises) is the real estate franchisor subsidiary of Crye-Leike, providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. The division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises is currently comprised of 20 independently owned and operated franchise brokers who are located in 19 counties within five territories of the United States in Tennessee, Arkansas, Mississippi, Kentucky and Florida. Those Crye-Leike franchise offices are located in: Tennessee - Bledsoe, Greene, Grundy, Hardin, Madison, Meigs, Putnam, Rhea, Roane and Sevier counties; Arkansas - Independence and Mississippi counties; Mississippi - Lowndes, Marshall, Oktibbeha and Union counties; Kentucky - Warren County; and, Florida - Okaloosa and Walton counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, is the nation's 10th largest real estate company and the largest serving the Southern Region of the United States. It has a network of over 2,850 sales associates and 79 branch and franchise offices located in 41 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. As a privately-held company, Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2003. Crye-Leike is ranked No. 80 among the Top 100 Private Companies in Tennessee, based on its most recent year's revenue For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - Memphis-based Crye-Leike, the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South, was ranked among the Top 100 largest closely held companies in Tennessee, based on their most recent year's revenue. A recent statewide report, produced for the first time by Business Tennessee magazine of Nashville, Tenn., ranked Crye-Leike No. 80 among its list of the Top 100 Private Companies in Tennessee. This ranking was based on Crye-Leike generating $127 million in annual revenue in 2003, which represents $3.66 billion in sales of residential and commercial real estate from its 70 branch and franchise offices in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike was the only company represented on the list that solely dealt in the real estate industry. Kemmons Wilson Cos. of Memphis ranked No. 32, with $340 million in annual revenue in 2003, specializing in hotels and real estate. And, Belz Enterprises of Memphis ranked No. 44 with $240 million in annual revenue in 2003, specializing in real estate development and management. Out of the 100 companies represented in the report, 12 companies had annual revenues in excess of $1 billion, and all but one generated more than $100 million, stated Editor David A. Fox. "The Top 100 Private Companies list represents an impressive diversity of industries, which bodes well for the durability of the state's economy." Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, has a network of over 3,000 sales associates and 75 branch and franchise offices located in 39 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike has four regional hub offices located in Memphis, Nashville & Chattanooga in Tennessee and Little Rock, Arkansas.  

Memphis, Tenn. - Crye-Leike, the nation's 10th largest real estate company, reports robust across-the-board sales activity due to continued low mortgage rates and an upsurge in consumer confidence as disclosed in its second quarter sales report. Memphis-based Crye-Leike, Realtors, which is celebrating its 27th year in business, reports that all of its market regions performed the highest monthly sales record in the history of the company. Crye-Leike has four regional hub offices located in Memphis, Nashville and Chattanooga in Tennessee and Little Rock, Arkansas. Crye-Leike sales volume in the second quarter of 2004 was up 36.5 percent over the same quarter a year prior. Sales for the second quarter totaled $1.33 billion, up from $970.98 million in the same quarter last year. Units sold totaled 8,543, up 31.2 percent compared to 6,514 a year prior. The company's year-to-date sales, marking halfway through 2004, showed strong growth at $2.19 billion, up 31.8 percent from $1.66 billion reported for the same period last year. These figures represent 14,419 units sold, up 26 percent from 11,406. For the month of June, Crye-Leike reports all regions had sales of $506.2 million, up 40 percent from $361.2 million last year. These figures represent 3,111 units sold in June, up 32 percent at 2,349 units for the same period last year. Beyond favorable market conditions, Chief Executive Officer Harold E. Crye credits attention to detail of the day-to-day business operations and coaching of managers with making a big difference in bringing the company's branch offices and divisions to high productivity. Crye further credits the company's relocation division for contributing to the company's overall growth in sales. Among other contributing factors attributing to its growth, Crye-Leike Relocation Services has been privileged to assist the employees of Louisiana Pacific, Corp. in their move to the Nashville, Tenn. area, he said. LP, Corp. announced their intention to relocate its corporate headquarters to Middle Tennessee in October 2003. "Additionally, our sales associates' productivity gets a boost from our company's in-house technology support," said President Dick Leike. "All listings generated by our Crye-Leike sales associates are posted on our Web site which generates over 20 million hits a month and over 207,000 visitors a day. Our company's Intranet site, coupled with our leading edge technology, makes it very easy and efficient to maintain communication between our customers and our highly mobile sales associates. We realize that our customers want instant access for answers from our real estate professionals when it comes to their real estate needs. And, the one-stop shopping option of our in-house title services, insurance services and company wide relationship with 1st Trust Bank for Savings for mortgage lending helps our associates and their customers get to closing more efficiently." Crye-Leike's disclosed second quarter sales figures for 2004 include new and existing family homes, condos and duplexes as well as commercial properties within its four regional market areas: East Tenn.Region - Chattanooga; Middle Tennessee Region - Nashville; West Tennessee Region - Memphis; and Arkansas Region - Little Rock. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Following is a summary of second quarter sales results within Crye-Leike's four regional market areas.   CRYE-LEIKE, INC. (WEST TENN. & MISSISSIPPI REGIONS - MEMPHIS, TENN.) Crye-Leike, Inc. in Memphis reported its local sales volume in June was a monthly sales record of $228 million, up 19 percent from last June, which represents 1,316 closings, a 12 percent increase from last year. Second-quarter sales of $612.6 million within Crye-Leike's West Tennessee Region represents a 27 percent increase from $484 million last year. Its 3,690 real estate property sales in the second quarter this year represent a 19 percent increase over comparable quarterly results last year. Year-to-date sales volume for Crye-Leike Inc. (Memphis) was $1.03 billion, up 24 percent from $833 million halfway through 2003. These figures represent 6,345 in property sales, a 17 percent increase over comparable year-to-date results last year. Crye-Leike's second quarter report for the West Tenn. Region includes sales in Shelby, Fayette and Tipton counties in Tennessee as well as those in DeSoto, Marshall, Tunica and Lee counties in Mississippi, and Crittenden County, Ark. Crye-Leike's West Tennessee Region has a sales force of over 1,200 sales associates located in nineteen (19) branch and four (4) franchise offices in eight (8) counties throughout the regions of West Tennessee, Eastern Arkansas and Mississippi. Crye-Leike, Inc. in Memphis is ranked No. 28 among the largest private companies in Memphis, and No. 23 among Memphis' fastest growing private companies. Additionally, it was ranked No. 21 among the largest 100 employees in Memphis. These rankings were based on gross revenues and tabulated by the Memphis Business Journal in Memphis, Tenn.   CRYE-LEIKE OF NASHVILLE (MIDDLE TENN. REGION) Crye-Leike of Nashville, Inc. performed its highest monthly sales record since its Middle Tennessee Region was established 11 years ago. The month of June this year showed a record local sales volume of $173 million, a 72 percent increase from $101.3 million over comparable monthly results last year. There were 1,018 real estate closings in June, a 52 percent increase from 671 closings reported for the same period last year. Second quarter sales for Crye-Leike's Middle Tennessee Region totaled $430 million, up a significant 44 percent from same-quarter results a year earlier, representing 2,724 in property sales. Year-to-date sales volume totaled $693 million, up 37 percent from sales reported halfway through 2003. Year-to-date closings were 4,501, a 31 percent increase from 3,443 closing reported through June 2003. Crye-Leike of Nashville, Inc. has 18 branch offices and one franchise office in nine counties throughout Middle Tennessee in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties, including Warren County in Kentucky. Sales associates in the Greater Nashville area currently total over 900.   CRYE-LEIKE OF CHATTANOOGA (E. TENN. REGION, INCLUDING JOHNSON CITY) Within Crye-Leike's EastTennessee Region, sales volume in the second quarter totaled $163.3 million, up 17 percent, and property sales totaled 1,145, up 13.4 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $269 million, up 14 percent, and property sales totaled 1,922, a 5 percent increase from the sales reported halfway through 2003. The month of June showed a local sales volume of $59 million, up 24.4 percent from last June, representing 395 units closed, a 22 percent increase from last year. Crye-Leike of Chattanooga, Inc. has nine branch offices and nine franchise offices in 14 counties throughout the East Tennessee Region in Bradley, Cumberland, Greene, Grundy, Hamblen, Hamilton, McMinn, Meigs, Putnam, Rhea, Roane, Sevier and Washington counties, including Catoosa County in North Georgia. Crye-Leike sales associates within its East Tennessee Region currently total over 380.   CRYE-LEIKE OF ARKANSAS, INC. (ARKANSAS REGION: LITTLE ROCK & JONESBORO) Crye-Leike continues to gain a stronghold within Arkansas after establishing a regional hub office just two years ago. Crye-Leike reports regional sales volume in Arkansas to be $118.9 million in the second quarter of this year, up 148 percent, and property sales totaled 985, up 129 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $195.4 million, up 129 percent from $85.4 million through June 2003. Year-to-date closings were 1,652, a 137 percent increase from 696 closings reported through June 2003. The month of June this year showed a local sales volume of $46.2 million, a 121 percent increase from $21 million over comparable monthly results last year. There were 382 real estate closings in June, a 118 percent increase from 175 closings reported for the same period last year. Crye-Leike of Arkansas, Inc. is ranked No. 4 statewide among Arkansas' top real estate firms, as ranked by Arkansas Business. It has 10 branch offices and two franchise offices with a sales force of over 200 sales associates who market residential, commercial, investment property, farms and acreage sales in eight (8) counties in Arkansas: Craighead, Crittenden, Faulkner, Garland, Independence, Mississippi, Pulaski and Saline. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, is the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,800 sales associates and 74 branch and franchise offices located in 40 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.66 billion and 24,953 closed transaction sides corporate wide in 2003. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.    

Memphis, Tenn. - Memphis-based Crye-Leike, a full service real estate company and the largest real estate company in Tennessee and the Mid-South, announced that it has attained top rankings among Memphis, Tennessee's largest and most successful private companies. A recent research report, produced by the Memphis Business Journal, ranked Crye-Leike No. 28 among the largest private companies in Memphis, Tenn., a move upward from its No. 33 ranking in 2002. The report further ranked Crye-Leike No. 23 among Memphis' fastest growing private companies and No. 21 among Memphis' largest employers. The rankings were a part of the Memphis Business Journal's annual Top 100 Private Companies list. The business journal based the rankings on the companies' gross revenues in 2003, a criteria established by journal's researchers due to the broad spectrum of industries represented on the list. Additional criteria included that companies must maintain their headquarters in the Memphis metropolitan statistical area (MSA). The MSA includes Shelby, Fayette and Tipton counties in Tennessee, DeSoto County in Mississippi and Crittenden County in Arkansas. Crye-Leike generated $126.6 million in gross revenue in 2003, a growth in revenue of 16.97 percent compared to $108.4 million in 2002. Belz Enterprises, a real estate development & management company, was the only other real estate related business in Memphis that was ranked among the top 25 of the Top 100 Private Companies list. Crye-Leike reported 320 full-time employees in 2003 compared to 273 in 2002. Crye-Leike was the only real estate related business included in the list of 23 businesses disclosed among the journal's Largest Top 100 Employers list. Crye-Leike has a total of four regional hub offices located in Memphis, Nashville and Chattanooga in Tennessee and in Little Rock, Arkansas. Crye-Leike's regional hub office in Memphis has a sales force of over 1,200 sales associates located in nineteen (19) branch and four (4) franchise offices in eight (8) counties throughout the regions of West Tennessee, Eastern Arkansas and Mississippi. Those regions include Hardin and Shelby counties in Tennessee; Crittenden County in Arkansas; and DeSoto, Lee, Lowndes, Marshall and Union counties in Mississippi. Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, is the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,800 sales associates and 74 branch and franchise offices located in 40 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.66 billion and 24,953 closed transaction sides corporate wide in 2003. As a full service real estate company, Crye-Leike offers real estate and related services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; REO - bank-assisted homes; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services.    

As published in the Memphis Business Journal, June 7, 2004 edition.   by Jane Aldinger, staff writer   Founded by two unassuming home salesmen, Crye-Leike Realtors has matured into a regional real estate powerhouse with an aggressive growth strategy and a booming franchise business that has landed the company as the No. 10 largest residential brokerage firm in the nation. Crye-Leike is ranked No. 28 on the Memphis Business Journal's Top 100 Private Companies list with $126.6 million in revenues in 2003. Crye-Leike was No. 33 on last year's list with 2002 revenues of $108.4 million. Harold Crye and Dick Leike founded the company in 1977 in Memphis with "two people that sold houses," Crye says. Humble about their success, Crye and Leike both attribute the company's impressive statistics to their support staff of agents and employees. "If you surround yourself with good people, you'll find success," Leike says. "If we can get a few people to go to work, we'll pay the bills." Crye-Leike is doing more than just paying the bills, though. With a closed sales volume of $3.6 billion in 2003, the company ranks No. 24 in REAL Trends' national sales ranking volume. "We thought maybe 20 agents -- that would be pretty good," Crye says about the founders' thoughts when the company was born. The company has grown into a full-service real estate firm with over 2,800 sales associates in 71 branch and franchise offices in six states. "I think we were just hoping to survive and pay the bills at that time," Leike says. "Now, it grows itself if we do what we're supposed to be doing." Crye-Leike also posted in the residential real estate publication's annual rankings as the No. 10 largest and most successful residential brokerage firm in the country and as the No. 7 largest privately owned and independent real estate company. Crye-Leike offers its customers a full spectrum of real estate services including residential real estate, relocation, commercial business and investment real estate, property leasing and management, development and construction, REO and foreclosure, mortgage lending, insurance, title, home, auction, apartment locator, franchise sales and builder resource. "Consumers want one-stop shopping," Crye says, and that's why the company has incorporated all of a homeowner's needs under one company umbrella. Crye-Leike started franchising its name about three years ago because Crye says they kept getting calls from smaller towns. "We just couldn't get to them quickly enough," he says. So the company started licensing the Crye-Leike name and Web site capabilities to franchisees, and both say that regional franchises are becoming a trend as it goes along with industry consolidation. The company currently has 18 franchise offices in smaller markets. The owners expect that number to increase to nearly 100 franchises within the next several years. Low interest rates have fueled home sales, but Crye and Leike are confident that as long as interest rates stay moderate, they will sell homes. "People buy and sell whether it's a good or bad market," Crye says. Crye and Leike are storming their active markets and trying to remain ahead of the competition focusing on their four major markets: Memphis, Nashville, Chattanooga and Little Rock. "Everything else is a competitor, and we can handle competition," Crye says. Crye and Leike are both still active in sales and in local associations including the Memphis Area Association of Realtors. A service-oriented approach is the key to any successful business, and the company's two founders insist that providing a comprehensive and quality service is what has allowed them to accomplish so much. "If we're the largest, it must mean we're doing the best service," Crye says. "That's the only way somebody can do better."   CONTACT staff writer Jane Aldinger at 259-1727 or jaldinger@bizjournals.com

Memphis, Tenn. - Memphis-based Crye-Leike, the largest real estate company in Tennessee and the Mid-South, announced that it has retained its No. 10 national ranking among the country's largest and most successful residential brokerage firms. A recent research report produced by REAL Trends, Inc., the leading provider of information and analysis for the residential real estate industry, ranked Crye-Leike No. 10 among the 500 largest residential real estate brokerage firms in the United States for a second year in a row. Crye-Leike also held this same No. 10 position in 1999. The 2004 REAL Trends 500 report further ranked Crye-Leike No. 7 in the nation among the 152 largest privately owned and independent real estate companies. The 2004 REAL Trends 500 report is a compilation of a nationwide study of leading residential real estate companies conducted by REAL Trends (www.realtrends.com), a trends and analysis newsletter covering the residential services industry. REAL Trends requires verification of numbers from outside accounting firms. These rankings were based on Crye-Leike achieving 24,817 closed transaction sides among its 54 branch offices in 2003. Crye-Leike ranked No. 24 in closed sales volume at $3.6 billion in REAL Trends' separate ranking by sales volume, a move up from its previous No. 25 ranking last year. A transaction side represents either the listing side or the selling side of a closed transaction. "The report is dominated by firms affiliated with national franchises, " said Steve Murray, editor of Denver, Colo.-based REAL Trends. "Franchised firms represent 70 percent of those listed in the REAL Trends 500 Report while 30 percent are independent firms." NRT, Inc. led the REAL Trends 500 report as the largest residential brokerage company in the country. The firm, which owns 956 residential real estate offices across the United States, closed 488,606 transactions in 2003. Owned by Cendant, NRT acquires residential real estate brokerage firms and operates them as affiliates of Coldwell Banker Real Estate Corporation and ERA Franchise Systems, Inc. The real estate industry's largest and most successful local, regional and national brokerage companies collectively closed more than $740.8 billion in residential sales in 2003, representing more than 3 million in residential real estate transaction sides, according to REAL Trends. Chief Executive Officer Harold E. Crye of Crye-Leike notes that Crye-Leike's sales growth in 2003 was due to a lot of hard work on the part of its sales team. "Yes, the interest rates of 2003 set the real estate market on fire, but still, our talented sales associates were the ones who seized the opportunities and made the sales happen." Other factors Crye attributed to the company's successful sales record in 2003 included expanding markets and services within its Central Arkansas and Greater Chattanooga regions as well as expanding their presence through franchising within outlying areas in Florida, Kentucky, Mississippi, Tennessee, Kentucky and other contiguous states. "Extending our company's geographic reach and depth of services, making technology investments and improvements as well as offering aggressive agent training and education programs are all strategies that have positioned Crye-Leike to be among the top industry leaders," said Crye. The study also tracked the sales of settlement services, products that are sold most frequently by leading residential real estate firms such as mortgage, title insurance, home warranty policies and homeowners insurance policies. "This study indicated that growth in related settlement services is much higher than in residential realty transactions over the past few years for these ranked leaders," said the REAL Trends editor. Among the Top 500 firms, Crye-Leike ranked No. 4 in selling 5,236 home warranties in 2003 through its affiliation with American Home Shield Corporation (AHS), the nation's largest and oldest home warranty company. Crye-Leike further ranked No. 9 in providing 5,888 title closings and other related services in 2003 through its real estate title and escrow company, Realty Title & Escrow Co., Inc. (www.realtytitle.com). Tennessee real estate firms that ranked in the Top 500, along with Crye-Leike, included: Bob Parks Realty of Murfreesboro (No. 80); Realty Executives Associates, Inc. of Knoxville (No. 81); Coldwell Banker Barnes /Snow & Wall of Brentwood (No. 133); RE/MAX Elite of Brentwood (No. 176) Coldwell Banker Wallace & Wallace of Knoxville (No. 207); Realty Center/ GMAC of Chattanooga (No. 227); RE/MAX Preferred Properties, Inc. of Knoxville (No. 288); Shirley Zeitlin & Co. (No. 484), and, Prudential Professionals Realty of Clarksville (No. 487). All rankings are based on closed transaction sides. See Exhibit I for detailed rankings. While Crye-Leike ranked No. 7 in the nation among the 152 largest privately owned and independent real estate companies, only two other real estate firms in Tennessee qualified within this category. Bob Parks Realty of Murfreesboro ranked No. 35 in the nation, with 6,501 closed transaction sides and 10 offices. Shirley Zeitlin & Co. of Nashville was No. 129 with 1,343 closed transaction sides and three offices. REAL Trends is a research, publishing and communications company, located in Denver, Colorado, that serves the information needs of the residential real estate industry. Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, has a network of over 2,800 sales associates and 71 branch and franchise offices located in 38 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. As a full service real estate company, Crye-Leike offers real estate and related services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; REO foreclosure services; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. Click on the photo link to view a chart of Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 2003 as released by REAL Trends Inc. in its 2004 REAL Trends 500 Report.  

Little Rock, Ark.. - Crye-Leike, the nation's 10th largest real estate company, reports brisk across-the-board sales activity due to low mortgage rates as disclosed in its first quarter sales report. "The improving economy, along with record low mortgage rates, has helped fuel the record sales levels," says Chief Executive Officer Harold E. Crye. "The National Association of Realtors predicts that historically low mortgage interest rates will dominate again this year, which will help to keep Crye-Leike's sales strong and very close to last year's record of $3.66 billion." Memphis-based Crye-Leike, Realtors says its sales volume in the first quarter of 2004 was up 20.7 percent over the same quarter a year prior. Sales for the first quarter totaled $833.48 million, up from $690.51 million in the same quarter last year. Units sold totaled 5,707, up 16.6 percent compared to 4,895 a year prior. Average residential sales prices in March 2004 for Crye-Leike's major metro areas compared to March 2003 were: $132,186 in Chattanooga, a 9.3 percent decrease from $145,870; $151,912 in Memphis, up 6.4 percent from $142,820; and, $143,424 in Nashville, up 5.1 percent from $136,415. The real estate market is entering its busiest time of year for buying and selling homes. Increased sales during the first quarter are a good indicator that activity will be strong this spring, notes President Dick Leike. "The historically low mortgage interest rates, coupled with Tennessee's good supply of housing inventory and a better than national average employment rate are all continuing to help many Americans afford the American Dream of homeownership," says Leike. "And that, in turn, is fueling the economy by allowing existing owners to sell their homes and purchase other ones, and our sales figures reflect that positive activity." Crye-Leike's disclosed first quarter sales figures for 2004 include new and existing family homes, condos and duplexes as well as commercial properties within its four regional market areas: East Tenn. Region - Chattanooga, including Johnson City; Middle Tenn. Region - Nashville; West Tenn. Region - Memphis; and Arkansas Region - Little Rock. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller.   CRYE-LEIKE OF ARKANSAS, INC. (ARKANSAS REGION: LITTLE ROCK, INCLUDING JONESBORO) May 2004 will mark the second year in which Crye-Leike expanded its market presence in Arkansas by opening its fourth regional hub office in Little Rock, joining Memphis, Nashville and Chattanooga in Tennessee. During that time period, seven (7) additional branch offices have opened in the Little Rock region to join Crye-Leike's sales efforts in West Memphis and Jonesboro, strategic moves that have escalated Crye-Leike sales in Arkansas to new heights. Crye-Leike reports regional sales volume in Arkansas to be $76.5 million in the first quarter of this year, up 103.8 percent, and property sales totaled 667, up 151.7 percent from same-quarter results a year earlier. Crye-Leike's first quarter report for its Arkansas Region includes sales in and around Craighead, Faulkner, Garland, Pulaski and Saline counties. Crye-Leike of Arkansas, Inc. has nine (9) branch offices and two (2) franchise offices with a sales force of over 200 sales associates who market residential, commercial, investment property, farms and acreage sales in seven (7) counties in Arkansas: Craighead, Faulkner, Garland, Independence, Mississippi, Pulaski and Saline. Its branch and franchise offices are conveniently located in: Batesville, Benton, Blytheville, Bryant, Conway, Hot Springs, Jonesboro, Little Rock, Maumelle, North Little Rock and West Little Rock. Crye-Leike (www.crye-leike.com), a full service real estate company for 27 years, is the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,800 sales associates and 71 branch and franchise offices located in 38 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.66 billion and 24,953 closed transaction sides corporate wide in 2003. As a full service real estate company, Crye-Leike offers real estate and related services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; REO foreclosure services; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Little Rock, Ark. - Tennessee-based Crye-Leike, the nation's 10th largest residential real estate company and largest in Tennessee and the Mid-South, posted a record sales performance of over $3.6 billion in 2003, the highest ever in company history. Crye-Leike officials made this announcement to its 2,800-plus sales associates at the company's 27th annual meetings held January 2004 in its Memphis, Nashville, Chattanooga and Little Rock regions. Crye-Leike reported $3.66 billion in year-end sales volume company wide for 2003, up 15.64 percent from $3.17 billion through Dec. 2002. These 2003 figures represent Crye-Leike's sales associates handling 24,953 closings within a four-state region, a 12.4 percent increase from the 22,198 closings reported through Dec. 2002. "Unprecedented low mortgage rates and providing our customers with a ?one-stop shopping' experience as a full service real estate company helped us achieve our best year ever," says Chief Executive Officer Harold E. Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "To put our $3.6 billion in sales into perspective," says Crye, "that represents our 2,600 Crye-Leike sales associates selling a property every 22.5 minutes and generating over $10 million in sales every day of the year." "Buying and selling real estate can be a daunting task for consumers," says Leike, "but at Crye-Leike, we have made the process easy by creating an atmosphere of working together. We have bundled all the services needed to complete a real estate transaction together under one roof so our sales associates and company staff can offer and provide our customers a complete marketing package." As a full service real estate company, Crye-Leike offers real estate and related services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; REO foreclosure services; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. For services outside Crye-Leike's realm of expertise, the company has developed business partnerships to facilitate the buying and selling process and to foster an atmosphere of cooperation, says Leike. Such service partners include those with First Trust Bank for Savings for mortgage lending services where a mortgage representative is found in almost every branch office of Crye-Leike and American Home Shield as Crye-Leike's single source for home warranties. Edging toward $4 Billion in sales. "Crye-Leike is a strong, viable company that continues to grow," says Crye, "and our track record proves it." "We are keeping our fingers crossed that 2004 will be like 2003, a year in which sales records were broken in all our regional markets," says Crye. "If our sales force continues at this record pace, then Crye-Leike could potentially attain its next milestone of $4 billion by year-end. Fourth quarter. Crye-Leike reports $893.41 million in sales during the fourth quarter of 2003, a 12.2 percent increase over $795.69 million this same period in 2002. These figures represent 6,250 units sold during the fourth quarter in 2003, an 11 percent increase from 5,616 closings reported for the same period in 2002. December sales. For the month of December 2003, Crye-Leike reported $310.63 million in sales, up 15 percent from $269.08 million in 2002. These figures represent 2,165 units sold in December 2003, a 12.4 percent increase from 1,925 closings reported for the same period in 2002. Average residential sales prices. Average residential sales prices in December for Crye-Leike's major metro areas compared to December 2002 were: $130,517 in Chattanooga, up .64 percent from $129,684; $99,373 in Little Rock, Ark., down 10.4 percent from $110,894; $141,639 in Memphis, down 2.9 percent from $145,849; and $170,166 in Nashville, up 24 percent from $137,740. Crye-Leike's 2003 sales figures include new and existing single family homes, condos and duplexes as well as commercial properties within a four-state regional market area (Tennessee, Arkansas, Mississippi and Georgia.) Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike expanded its regional headquarters into Little Rock, Arkansas during the second quarter of 2002, a move that has almost tripled Crye-Leike's real estate sales in Arkansas since establishing a Jonesboro corporate office in 1999. "We continue to see Little Rock as a growth market for our company, providing our Crye-Leike customers with state-of-the-art services that are not readily available in that area, " said Harold E. Crye, chief executive officer and general manager of Crye-Leike of Arkansas, Inc. Sales reported by Crye-Leike of Arkansas, Inc. includes sales from its nine corporate offices in the Greater Little Rock area, including Jonesboro. Year-end sales volume in 2003 for Crye-Leike of Arkansas, Inc. totaled $221.63 million, up 188 percent from $77 million through 2002. These figures represent 1,836 in property sales, a 139 percent increase over comparable year-end results in 2002. Crye-Leike of Arkansas, Inc. reported fourth-quarter sales at $66.88 million in 2003, representing a 159 percent increase over same-quarter results a year prior. Its 582 real estate property sales in the fourth quarter of 2003 represent a 139 percent increase over comparable quarterly results a year prior. Crye-Leike of Arkansas' local sales volume in Dec. 2003 was $25.14 million, up 212 percent from $8.98 million in 2002. These figures represent 253 units closed, a 180 percent increase from the same period in 2002. Crye-Leike has nine corporate offices in six counties in Arkansas, located in Bryant, Conway, Hot Springs, Jonesboro, Little Rock (2), Maumelle, North Little Rock and West Memphis, with one office opening soon in Benton. In addition, there is one Crye-Leike franchise office located in Blytheville. Its sales force is over 225 sales associates who market residential, commercial, investment property, farms and acreage sales in Craighead, Crittenden, Faulkner, Garland, Hot Springs, Mississippi, Pulaski and Saline counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years has a network of over 2,800 sales associates and 68 corporate and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike is ranked No. 10 among the 500 largest residential real estate brokerage firms in the United States and No. 6 in the nation among the 133 largest privately owned and independent real estate companies, according to statistics compiled from RealTrends, a national organization that tracks the real estate industry.  

Nashville, Tenn. - Sales of the nation's 10th largest real estate company, bolstered by favorable mortgage interest rates and solid house-price gains, are expected to top the $3.5 billion mark by year-end, according to Chief Executive Officer Harold E. Crye of Crye-Leike, Realtors who will be addressing his 2,800 sales force at the company's upcoming annual regional meetings to be held next month. "If all indicators prove correct, Crye-Leike will have its best showing ever in 2003 during the company's 26 years in business," says Crye. "Housing is now leading the economy because there has been a national shift in perspective about real estate as a sound investment," he says. "According to Fannie Mae's annual survey of homeownership attitudes, 70 percent of Americans see buying a home as a safe and smart investment. With this increased confidence in real estate, we have seen a stronger demand not only for inventory but also for services." Crye-Leike officials will formally announce its fourth quarter sales figures to its 2,800 sales associates at the company's 26th annual meetings held in its Arkansas, Chattanooga, Memphis and Nashville regions during the month of January 2004. The meetings provide an opportunity for its leaders to reflect on the company's sales performance, growth and achievements over the past year, kick off new programs and initiatives for the new year as well as present company awards of recognition. Crye-Leike's annual meeting for offices in its West Tennessee Region will be held in Memphis, Tenn. on Tuesday, January 6, 2004 at the Memphis Marriott East, 2625 Thousand Oaks Blvd. from 8:30 a.m. to 10:30 a.m. (CST). Crye-Leike's annual meeting for offices in its Middle Tennessee Region will be held in Nashville, Tenn. on Tuesday, January 13, 2004 at the Sheraton Music City Hotel, 777 McGavock Pike, from 8:30 a.m. to 10:30 a.m. (CST). Crye-Leike's annual meeting for offices in its Southeast Tennessee Region will be held in Chattanooga, Tenn. on Tuesday, January 20, 2004 at the Chattanooga Golf & Country Club on Riverview Road from 8:30 a.m. to 10:30 a.m. (EST). Crye-Leike's annual meeting for offices in its Arkansas Region will be held in Little Rock, Ark. on Tuesday, January 27, 2004 at the Embassy Suites, 11301 Financial Centre Parkway from 8:30 a.m. to 10:30 a.m. (CST). Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 10th largest real estate company and the largest serving the Southern Region of the United States. It has a network of over 2,800 sales associates and 68 branch and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2002.  

Brentwood, Tenn. - Crye-Leike Commercial of Brentwood, Tenn. has been ranked the eighth largest Nashville-area commercial real estate brokerage firm by the Nashville Business Journal, a ranking based on its 2002 sales volume of $16.1 million. Crye-Leike Commercial was listed among 18 other real estate brokerage firms in the area, with NAI Matthews Partners ranked No. 1, followed by CB Richard Ellis, Colliers Turley Martin Tucker, ProVenture Commercial Real Estate, Chas. Hawkins Co. Inc., Eakin Partners and Grubb & Ellis/Centennial. Crye-Leike Commercial (http://www.crye-leike.com/commercial/) is a full service commercial real estate company and division of Crye-Leike, Realtors, the nation's 10th largest real estate company. Crye-Leike Commercial offers business and investment real estate services from its four regional commercial offices in Memphis, Nashville, Murfreesboro and Chattanooga. The commercial brokers of Crye-Leike Commercial have a 20-year history of providing comprehensive brokerage, leasing, site selection and investment real estate services to their clients. Crye-Leike Commercial is located at 1187 Old Hickory Blvd. in Brentwood, Tenn. For real estate information on commercial and residential property listings available for sale or lease nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com, or call 615/309-7100. The Nashville Business Journal is owned and operated by American City, the nation's leading publisher of metropolitan business journals, owning newspapers in 41 U.S. cities.  

Memphis, Tenn. - Tennessee-based Crye-Leike, the nation's 10th largest real estate company, reported a record breaking third quarter at $1.1 billion in sales, an increase of 26 percent over $878.58 million this same period last year, announced company officials. This volume was generated on the sale of 7,295 properties handled by Crye-Leike's 2,800 sales associates and reflects the sales activity of its 68 branch and franchise offices, located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Florida, Kentucky, Mississippi and Georgia. The company's year-to-date sales showed steady growth at $2.77 billion, up 17 percent from $2.37 billion through September 2002. Year-to-date closings were 18,704, up 12.8 percent from the 16,581 closings reported through September 2002. "This was our best quarter for closings in three of our four major regions - Memphis, Nashville and Chattanooga. We're just gearing up in Little Rock," says Chief Executive Officer Harold E. Crye. "Record low mortgage rates and an improving economy are the driving forces of this market." "Unemployment in our major markets remains relatively low. Inventories of available housing are increasing in some markets. These factors, coupled with 2,800 of our motivated sales associates, also paved the way for these strong results," says President Dick Leike. Crye-Leike's disclosed third quarter sales figures for 2003 include new and existing family homes, condos and duplexes as well as commercial properties within its five regional market areas: West Tennessee Region - Memphis; Middle Tennessee Region - Nashville; Southeast Tenn. Region - Chattanooga; Northeast Tenn. Region - Johnson City; and Arkansas Region - Little Rock. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Following is a summary of third quarter sales results within Crye-Leike's five regional market areas.   WEST TENNESSEE REGION: CRYE-LEIKE INC. (Memphis, Tenn.; West Memphis, Ark., and North Mississippi) Crye-Leike reports local sales volume in the Greater Memphis market area to be $547.74 million in the third quarter this year, up 19 percent from $461.87 million last year. Crye-Leike's report covers the Greater Memphis area, including West Memphis, Ark., and Olive Branch and Southaven, Miss. Third-quarter unit sales totaled 3,471, up 20 percent from same-quarter results a year earlier. Year-to-date sales volume for Crye-Leike in the Greater Memphis area was $1.38 billion, up 14 percent from $1.21 billion through September 2002. Year-to-date closings were 8,912, which is an 11 percent increase from the 8,001 closings reported through September 2002. Crye-Leike's third quarter report for the West Tenn. Region includes sales in Shelby, Fayette and Tipton counties in Tennessee as well as those in DeSoto, Marshall, Tunica and Lee counties in Mississippi, and Crittenden County, Ark. Crye-Leike's West Tennessee Region has a sales force of over 1,200 sales associates who are located in 19 branch offices and four franchise offices in eight (8) counties throughout West Tennessee, Mississippi and Eastern Arkansas. Those counties include Hardin and Shelby counties in Tennessee; Crittenden County in Arkansas; and DeSoto, Lee, Lowndes, Marshall and Union counties in Mississippi.   MIDDLE TENNESSEE REGION: CRYE-LEIKE OF NASHVILLE INC.(NASHVILLE) In the Nashville metro area, Crye-Leike's third-quarter sales totaled $342.20 million, representing a 21 percent increase from $282.79 million reported for the same period last year. Its 2,219 real estate property sales in the third quarter this year was up 14 percent over the same quarter a year prior. Year-to-date sales volume for Crye-Leike of Nashville was $848.40 million, up 6 percent from $800.79 million through 2002. These figures represent 5,662 in property sales, a 3 percent increase over comparable year-to-date results last year. Crye-Leike of Nashville, Inc. is celebrating its 10th anniversary in business within the Greater Nashville area since 1993. It has 19 branch and franchise offices in nine counties throughout Middle Tennessee in Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties, including Warren County in Kentucky. Sales associates in the Greater Nashville area currently total over 800.   SOUTHEAST TENNESEE REGION: CRYE-LEIKE OF CHATTANOOGA INC. Crye-Leike of Chattanooga disclosed its regional sales volume in Chattanooga to be $139.14 million in the third quarter of this year, up 30 percent, and property sales totaled 983, up 14 percent from sale-quarter results a year earlier. Year-to-date sales volume totaled $364.41 million, up 26 percent, and property sales totaled 2,713, a 13 percent increase from the sales reported through 2002. Crye-Leike of Chattanooga, Inc. has 12 branch and franchise offices in eight counties within the Southeast Region of Tenn.: Bradley, Grundy, Hamilton, McMinn, Meigs, Rhea and Roane counties, including Catoosa County in North Georgia. Crye-Leike sales associates currently total over 300 within its Southeast Region of Tenn.   NORTHEAST TENNESSEE REGION: CRYE-LEIKE OF EAST TENNESSEE INC. (JOHNSON CITY) Crye-Leike of East Tennessee in Johnson City reports sales volume in the third quarter of 2003 totaled $7.29 million, up 81 percent from same-quarter results a year earlier. Its 64 real estate property sales in the third quarter this year represent a 78 percent increase from same-quarter results a year earlier. Year-to-date sales volume totaled $18.54 million, representing 163 units sold, up 4 percent from $17.79 million through September 2002. Crye-Leike's Northeast Region of Tennessee has three branch and franchise offices in three counties: Greene, Hamblen and Washington counties. Crye-Leike of East Tennessee (Johnson City) has over 30 sales associates who market residential, commercial and investment property sales in Washington, Sullivan, Carter and Unicoi counties.   ARKANSAS REGION: CRYE-LEIKE OF ARKANSAS INC. (LITTLE ROCK & JONESBORO) Crye-Leike of Arkansas Inc. disclosed a record 2003 sales volume in the third quarter of $69.33 million, up 209 percent from 22.44 million last year. Third-quarter unit sales totaled 558, up 168 percent from same-quarter results a year earlier. The significant increase is reflective of Crye-Leike's recent move into the Little Rock market in June 2002, making Little Rock Crye-Leike's fifth regional office, joining Memphis, Nashville, Chattanooga and Johnson City. Year-to-date sales volume totaled $154.76 million, representing 1,254 units sold, a 203 percent increase from the sales reported through 2002. Crye-Leike of Arkansas, Inc. has a sales force of over 200 sales associates who are located in nine (9) branch and franchise offices within six (6) counties in Arkansas: Craighead, Faulkner, Garland, Mississippi, Pulaski and Saline. Its branch and franchise offices are conveniently located in: Blytheville, Bryant, Conway, Hot Springs, Little Rock, Jonesboro and North Little Rock. Crye-Leike initially established a market presence in Arkansas with the opening of its West Memphis branch office in February 1997, followed by Jonesboro in December 1999. Its first Arkansas franchise was established in Blytheville in July 2000. Crye-Leike grew regionally by establishing its fifth regional hub office in Little Rock, Ark. in May 2002, joining its other hub offices in Memphis, Nashville, Chattanooga and Johnson City in Tennessee.   ABOUT CRYE-LEIKE Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 10th largest real estate company and the largest serving the Southern Region of the United States. It has a network of over 2,800 sales associates and 68 branch and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. As a privately-held company, Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2002. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - Crye-Leike, the nation's 10th largest real estate company, reports brisk across-the-board sales activity due to low mortgage rates as disclosed in its second quarter sales report. Crye-Leike, Realtors, whose celebrating its 26th year in business, reports that Crye-Leike of Arkansas experienced the fastest rate in sales growth since expanding operations into Little Rock one year ago; Crye-Leike, Inc. (Memphis) performed the highest monthly sales record in the history of the company; and, Crye-Leike of Johnson City and Crye-Leike of Chattanooga both displayed the greatest percentage of sales growth during second quarter. "The greatest factors that have influenced the increase in our company's sales during the second quarter of 2003 have been the historically low interest rates, the improving economy and the addition of new Crye-Leike offices as well as the expansion of others," says Harold E. Crye, chief executive officer. "Other Crye-Leike offices had significant increases in sales growth in spite of the fact that they had been in existence for many years." Crye-Leike says its sales volume in the second quarter of 2003 was up 12.7 percent over the same quarter a year prior. Sales for the second quarter totaled $970.98 million, up from $861.83 million in the same quarter last year. Units sold totaled 6,514, up 6.9 percent compared to 6,095 a year prior. The company's year-to-date sales showed steady growth at $1.66 billion, up 11.4 percent from $1.49 billion reported for the same period last year. These figures represent 11,409 units sold, up 7.3 percent from 10,633. For the month of June, Crye-Leike reports all regions had sales of $361.2 million, up 13 percent from $319.6 million last year. These figures represent 2,349 units sold in June, up at 2,130 for the same period last year. Average residential sales prices in June 2003 for Crye-Leike's major metro areas compared to June 2002 were: $147,237 in Chattanooga, a 22.5 percent increase from $120,156; $162,625 in Memphis, up 2.8 percent from $158,167; $149,604 in Nashville, down 3.7 percent from $155,351; and $119,739 in Johnson City, up 15.4 percent from $103,750. Crye-Leike's disclosed second quarter sales figures for 2003 include new and existing family homes, condos and duplexes as well as commercial properties within its five regional market areas: Southeast Tenn. Region - Chattanooga; Arkansas Region - Little Rock; West Tennessee Region - Memphis; Middle Tennessee Region - Nashville and Northeast Tenn. Region - Johnson City. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller.   CRYE-LEIKE OF ARKANSAS, INC. (ARKANSAS REGION: LITTLE ROCK & JONESBORO) May 2003 marks the first year in which Crye-Leike expanded its market presence in Arkansas by opening its fifth regional hub office in Little Rock, joining Memphis, Nashville, Chattanooga and Johnson City in Tennessee. During that one-year time period, four additional branch offices were opened in the Little Rock region to join Crye-Leike's sales efforts in West Memphis and Jonesboro, strategic moves that have escalated Crye-Leike sales in Arkansas to new heights. Crye-Leike reports regional sales volume in Arkansas to be $48 million in the second quarter of this year, up 193 percent, and property sales totaled 431, up 152 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $85.4 million, up 198 percent from $29 million through June 2002. Year-to-date closings were 696, a 120 percent increase from 316 closings reported through June 2002. The month of June this year showed a local sales volume of $21 million, a 261 percent increase from $5.8 million over comparable monthly results last year. There were 175 real estate closings in June, a 213 percent increase from 56 closings reported for the same period last year. Crye-Leike of Arkansas, Inc. has a sales force of over 160 sales associates who are located in nine (9) branch and franchise offices within seven (7) counties in Arkansas: Craighead, Crittenden, Faulkner, Garland, Mississippi, Pulaski and Saline. Its branch and franchise offices are conveniently located in: Blytheville, Bryant, Conway, Hot Springs, Little Rock, Jonesboro, North Little Rock and West Memphis. Crye-Leike initially established a market presence in Arkansas with the opening of its West Memphis branch office in February 1997, followed by Jonesboro in December 1999. Its first Arkansas franchise was established in Blytheville in July 2000. Crye-Leike grew regionally by establishing its fifth regional hub office in Little Rock, Ark. in May 2002, joining Memphis, Nashville, Chattanooga and Johnson City in Tennessee. Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 10th largest real estate company and the largest serving the Southern Region of the United States. It has a network of over 2,500 sales associates and 67 branch and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2002. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - Crye-Leike, the nation's 10th largest real estate company, reports brisk across-the-board sales activity due to low mortgage rates as disclosed in its second quarter sales report. Memphis-based Crye-Leike, Realtors, whose celebrating its 26th year in business, reports that Crye-Leike, Inc. (Greater Memphis & Mississippi Regions) performed the highest monthly sales record in the history of the company; Crye-Leike of Arkansas experienced the fastest rate in sales growth since expanding operations into Little Rock one year ago; and, Crye-Leike of Johnson City and Crye-Leike of Chattanooga both displayed the greatest percentage of sales growth during second quarter. "The greatest factors that have influenced the increase in our company's sales during the second quarter of 2003 have been the historically low interest rates, the improving economy and the addition of new Crye-Leike offices as well as the expansion of others," says Harold E. Crye, chief executive officer. "Other Crye-Leike offices had significant increases in sales growth in spite of the fact that they had been in existence for many years." Crye-Leike says its sales volume in the second quarter of 2003 was up 12.7 percent over the same quarter a year prior. Sales for the second quarter totaled $970.98 million, up from $861.83 million in the same quarter last year. Units sold totaled 6,514, up 6.9 percent compared to 6,095 a year prior. The company's year-to-date sales showed steady growth at $1.66 billion, up 11.4 percent from $1.49 billion reported for the same period last year. These figures represent 11,409 units sold, up 7.3 percent from 10,633. For the month of June, Crye-Leike reports all regions had sales of $361.2 million, up 13 percent from $319.6 million last year. These figures represent 2,349 units sold in June, up at 2,130 for the same period last year. Average residential sales prices in June 2003 for Crye-Leike's major metro areas compared to June 2002 were: $147,237 in Chattanooga, a 22.5 percent increase from $120,156; $162,625 in Memphis, up 2.8 percent from $158,167; $149,604 in Nashville, down 3.7 percent from $155,351; and $119,739 in Johnson City, up 15.4 percent from $103,750. "The historically low mortgage interest rates, coupled with Tennessee's good supply of housing inventory and a better than national average employment rate are all continuing to help many Americans afford the American Dream of homeownership," says Dick Leike, president. "And that, in turn, is fueling the economy by allowing existing owners to sell their homes and purchase another, and our sales figures reflect that positive activity." Crye-Leike's disclosed second quarter sales figures for 2003 include new and existing family homes, condos and duplexes as well as commercial properties within its five regional market areas: Southeast Tenn. Region - Chattanooga; Arkansas Region - Little Rock; West Tennessee Region - Memphis; Middle Tennessee Region - Nashville and Northeast Tenn. Region - Johnson City. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller.   CRYE-LEIKE, INC. (WEST TENN. & MISSISSIPPI REGIONS - MEMPHIS, TENN.)   Crye-Leike, Inc. in Memphis reported the best month ever in the history of the company. Its local sales volume in June this year was a monthly sales record of $191.6 million, up 19.3 percent from last June, which represents 1,178 closings, a 16 percent increase from last year. Second-quarter sales of $483.6 million within Crye-Leike's West Tennessee Region represents a 12 percent increase from $433 million last year. Its 3,108 real estate property sales in the second quarter this year represent a 6.8 percent increase over comparable quarterly results last year. Year-to-date sales volume for Crye-Leike Inc. (Memphis) was $833.3 million, up 11.4 percent from $747.8 million halfway through 2002. These figures represent 5,441 in property sales, a 6.4 percent increase over comparable year-to-date results last year. Crye-Leike's second quarter report for the West Tenn. Region includes sales in Shelby, Fayette and Tipton counties in Tennessee as well as those in DeSoto, Marshall, Tunica and Lee counties in Mississippi, and Crittenden County, Ark. Crye-Leike's West Tennessee Region has a sales force of over 1,200 sales associates who are located in 20 branch and franchise offices in seven (7) counties throughout the West Tennessee, Mississippi and Eastern Arkansas regions. Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 10th largest real estate company and the largest serving the Southern Region of the United States. It has a network of over 2,500 sales associates and 67 branch and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2002. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.    

Memphis, Tenn. - Crye-Leike, the nation's 10th largest real estate company, reports brisk across-the-board sales activity due to low mortgage rates as disclosed in its second quarter sales report. Memphis-based Crye-Leike, Realtors, whose celebrating its 26th year in business, reports that Crye-Leike, Inc. (Greater Memphis & Mississippi Regions) performed the highest monthly sales record in the history of the company; Crye-Leike of Arkansas experienced the fastest rate in sales growth since expanding operations into Little Rock one year ago; and, Crye-Leike of Johnson City and Crye-Leike of Chattanooga both displayed the greatest percentage of sales growth during second quarter. "The greatest factors that have influenced the increase in our company's sales during the second quarter of 2003 have been the historically low interest rates, the improving economy and the addition of new Crye-Leike offices as well as the expansion of others," says Harold E. Crye, chief executive officer. "Other Crye-Leike offices had significant increases in sales growth in spite of the fact that they had been in existence for many years." Crye-Leike says its sales volume in the second quarter of 2003 was up 12.7 percent over the same quarter a year prior. Sales for the second quarter totaled $970.98 million, up from $861.83 million in the same quarter last year. Units sold totaled 6,514, up 6.9 percent compared to 6,095 a year prior. The company's year-to-date sales showed steady growth at $1.66 billion, up 11.4 percent from $1.49 billion reported for the same period last year. These figures represent 11,409 units sold, up 7.3 percent from 10,633. For the month of June, Crye-Leike reports all regions had sales of $361.2 million, up 13 percent from $319.6 million last year. These figures represent 2,349 units sold in June, up at 2,130 for the same period last year. Average residential sales prices in June 2003 for Crye-Leike's major metro areas compared to June 2002 were: $147,237 in Chattanooga, a 22.5 percent increase from $120,156; $162,625 in Memphis, up 2.8 percent from $158,167; $149,604 in Nashville, down 3.7 percent from $155,351; and $119,739 in Johnson City, up 15.4 percent from $103,750. "The historically low mortgage interest rates, coupled with Tennessee's good supply of housing inventory and a better than national average employment rate are all continuing to help many Americans afford the American Dream of homeownership," says Dick Leike, president. "And that, in turn, is fueling the economy by allowing existing owners to sell their homes and purchase another, and our sales figures reflect that positive activity." Crye-Leike's disclosed second quarter sales figures for 2003 include new and existing family homes, condos and duplexes as well as commercial properties within its five regional market areas: Southeast Tenn. Region - Chattanooga; Arkansas Region - Little Rock; West Tennessee Region - Memphis; Middle Tennessee Region - Nashville and Northeast Tenn. Region - Johnson City. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Following is a summary of second quarter sales results within Crye-Leike's five regional market areas.   CRYE-LEIKE, INC. (WEST TENN. & MISSISSIPPI REGIONS - MEMPHIS, TENN.)   Crye-Leike, Inc. in Memphis reported the best month ever in the history of the company. Its local sales volume in June this year was a monthly sales record of $191.6 million, up 19.3 percent from last June, which represents 1,178 closings, a 16 percent increase from last year. Second-quarter sales of $483.6 million within Crye-Leike's West Tennessee Region represents a 12 percent increase from $433 million last year. Its 3,108 real estate property sales in the second quarter this year represent a 6.8 percent increase over comparable quarterly results last year. Year-to-date sales volume for Crye-Leike Inc. (Memphis) was $833.3 million, up 11.4 percent from $747.8 million halfway through 2002. These figures represent 5,441 in property sales, a 6.4 percent increase over comparable year-to-date results last year. Crye-Leike's second quarter report for the West Tenn. Region includes sales in Shelby, Fayette and Tipton counties in Tennessee as well as those in DeSoto, Marshall, Tunica and Lee counties in Mississippi, and Crittenden County, Ark. Crye-Leike's West Tennessee Region has a sales force of over 1,200 sales associates who are located in 20 branch and franchise offices in seven (7) counties throughout the West Tennessee, Mississippi and Eastern Arkansas regions. CRYE-LEIKE OF CHATTANOOGA, INC. (SOUTHEAST TENN. REGION)   Within Crye-Leike's Southeast Tennessee Region, sales volume in the second quarter totaled $132.5 million, up 22 percent, and property sales totaled 948, up 3.6 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $225.3 million, up 23.2 percent, and property sales totaled 1,730, a 12.5 percent increase from the sales reported halfway through 2002. The month of June showed a local sales volume of $44 million, up 13 percent from last June, representing 299 units closed. Crye-Leike of Chattanooga, Inc. has eight branch offices in four counties within the Southeast Region of Tenn.: Bradley, Hamilton, and McMinn counties, including Catoosa County in North Georgia. Three Crye-Leike franchise offices are located in: Decatur, Meigs County; Kingston, Roane County and in Spring City, Rhea County. Crye-Leike sales associates currently total over 300 within its Southeast Region of Tenn.   CRYE-LEIKE OF ARKANSAS, INC. (ARKANSAS REGION: LITTLE ROCK & JONESBORO) May 2003 marks the first year in which Crye-Leike expanded its market presence in Arkansas by opening its fifth regional hub office in Little Rock, joining Memphis, Nashville, Chattanooga and Johnson City in Tennessee. During that one-year time period, four additional branch offices were opened in the Little Rock region to join Crye-Leike's sales efforts in West Memphis and Jonesboro, strategic moves that have escalated Crye-Leike sales in Arkansas to new heights. Crye-Leike reports regional sales volume in Arkansas to be $48 million in the second quarter of this year, up 193 percent, and property sales totaled 431, up 152 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $85.4 million, up 198 percent from $29 million through June 2002. Year-to-date closings were 696, a 120 percent increase from 316 closings reported through June 2002. The month of June this year showed a local sales volume of $21 million, a 261 percent increase from $5.8 million over comparable monthly results last year. There were 175 real estate closings in June, a 213 percent increase from 56 closings reported for the same period last year. Crye-Leike of Arkansas, Inc. has a sales force of over 160 sales associates who are located in nine (9) branch and franchise offices within seven (7) counties in Arkansas: Craighead, Crittenden, Faulkner, Garland, Mississippi, Pulaski and Saline. Its branch and franchise offices are conveniently located in: Blytheville, Bryant, Conway, Hot Springs, Little Rock, Jonesboro, North Little Rock and West Memphis. Crye-Leike initially established a market presence in Arkansas with the opening of its West Memphis branch office in February 1997, followed by Jonesboro in December 1999. Its first Arkansas franchise was established in Blytheville in July 2000. Crye-Leike grew regionally by establishing its fifth regional hub office in Little Rock, Ark. in May 2002, joining Memphis, Nashville, Chattanooga and Johnson City in Tennessee.   CRYE-LEIKE OF NASHVILLE, INC. (MIDDLE TENN. REGION) Crye-Leike of Nashville, Inc. celebrated its 10th anniversary doing business in Nashville. Second quarter sales for Crye-Leike's Middle Tennessee Region totaled $299.8 million, up a marginal .5 percent from same-quarter results a year earlier, representing 1,966 in property sales. Year-to-date sales volume totaled $506.2 million, down 2.3 percent from sales reported halfway through 2002, and property sales totaled 3,443. June sales totaled $101.3 million, with 671 units closed. Crye-Leike of Nashville, Inc. has 20 branch and franchise offices in 10 counties throughout Middle Tennessee in Davidson, Grundy, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties, including Warren County in Kentucky. Sales associates in the Greater Nashville area currently total over 800.   CRYE-LEIKE OF EAST TENNESSEE, INC. (NORTHEAST TENN. REGION - JOHNSON CITY) Crye-Leike reports local sales volume in the Northeast Tenn. Region to be $7.2 million in the second quarter this year, up 28.3 percent from $5.6 million last year. Second-quarter unit sales totaled 61, up 45 percent from same-quarter results a year earlier. June sales of $3.5 million represent a 39 percent increase from $2.5 million over comparable monthly results last year. Year-to-date sales volume for Crye-Leike in the Northeast Tenn. Region was $11.2 million, representing 99 units sold through June 2003. Crye-Leike's Northeast Region of Tennessee has four branch and franchise offices in three counties: Greene, Hamblen and Washington counties. Crye-Leike of East Tennessee (Johnson City) has over 30 sales associates who market residential, commercial and investment property sales in Washington, Sullivan, Carter and Unicoi counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 10th largest real estate company and the largest serving the Southern Region of the United States. It has a network of over 2,500 sales associates and 67 branch and franchise offices located in 36 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2002. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - Memphis-based Crye-Leike, Inc., a full service real estate company for 26 years, has achieved top rankings in an annual list of Memphis' Largest Top 100 Employers by the Memphis Business Journal. Crye-Leike, Realtors ranked 4th among the top 100 employers in Memphis, Tenn., with Horseshoe Casino & Hotel, Century Management and Valenti Mid-South Management LLC leading the rankings. In 2002, Crye-Leike, Inc. employed 411 employees in the Greater Memphis area, with an additional 1,247 independent contractors affiliated with the company who list and sell real estate in the Greater Memphis area. Company wide in 2002, Crye-Leike employed 571 employees, with an additional 2,254 independent contractors listing and selling real estate. The Memphis Business Journal further disclosed the Top 100 Private Companies in Memphis, Tenn. with Crye-Leike, Inc. ranking No. 33, based on Crye-Leike's regional office generating $108.4 million in gross revenue in 2002. Dunavant Enterprises, Inc. led in that ranking, followed by Orgill, Inc. The Memphis Business Journal's list of Top 100 Private Companies ranks them by 2002 gross revenues and represents companies from a broad spectrum of industries. To qualify, companies must maintain their headquarters in the Memphis metropolitan statistical area (MSA). The MSA includes Shelby, Fayette and Tipton counties in Tennessee, DeSoto County in Mississippi and Crittendon County in Arkansas. Crye-Leike, Inc. is one of Crye-Leike's five regional hub offices with others located in Nashville, Chattanooga, Johnson City, Tenn. and Little Rock, Ark. Crye-Leike, Inc. in Memphis has a sales force of over 1,100 sales associates who are located in 20 corporate and franchise offices in four counties throughout a three-state Mid-South region in Shelby County, Tenn.; Crittendon County, Ark.; and DeSoto and Lee counties, Miss. Crye-Leike (www.crye-leike.com) is the nation's 10th largest real estate company and the largest serving Tennessee and the Southern Region of the United States. It has 67 corporate and franchise offices located in 36 counties throughout a six-state southern region in Tenn., Ark., Miss., Ga., Ky. and Fla.  

Memphis, Tenn. - Memphis-based Crye-Leike, Inc., a full service real estate company for 26 years, has achieved top rankings in an annual list of Memphis' Largest Top 100 Employers by the Memphis Business Journal. Crye-Leike, Realtors ranked 4th among the top 100 employers in Memphis, Tenn., with Horseshoe Casino & Hotel, Century Management and Valenti Mid-South Management LLC leading the rankings. In 2002, Crye-Leike, Inc. employed 411 employees in the Greater Memphis area, with an additional 1,247 independent contractors affiliated with the company who list and sell real estate in the Greater Memphis area. Company wide in 2002, Crye-Leike employed 571 employees, with an additional 2,254 independent contractors listing and selling real estate. The Memphis Business Journal further disclosed the Top 100 Private Companies in Memphis, Tenn. with Crye-Leike, Inc. ranking No. 33, based on Crye-Leike's regional office generating $108.4 million in gross revenue in 2002. Dunavant Enterprises, Inc. led in that ranking, followed by Orgill, Inc. The Memphis Business Journal's list of Top 100 Private Companies ranks them by 2002 gross revenues and represents companies from a broad spectrum of industries. To qualify, companies must maintain their headquarters in the Memphis metropolitan statistical area (MSA). The MSA includes Shelby, Fayette and Tipton counties in Tennessee, DeSoto County in Mississippi and Crittendon County in Arkansas. Crye-Leike, Inc. is one of Crye-Leike's five regional hub offices with others located in Nashville, Chattanooga, Johnson City, Tenn. and Little Rock, Ark. Crye-Leike, Inc. in Memphis has a sales force of over 1,100 sales associates who are located in 20 corporate and franchise offices in four counties throughout a three-state Mid-South region in Shelby County, Tenn.; Crittendon County, Ark.; and DeSoto and Lee counties, Miss. Crye-Leike (www.crye-leike.com) is the nation's 10th largest real estate company and the largest serving Tennessee and the Southern Region of the United States. It has 67 corporate and franchise offices located in 36 counties throughout a six-state southern region in Tenn., Ark., Miss., Ga., Ky and Fla.  

Memphis, Tenn. - Memphis-based Crye-Leike, the largest real estate company in Tennessee and the Mid-South, announced that it has attained the No. 10 national ranking among the nation's largest and most successful residential brokerage firms, a position the company last held in 1999. A recent report ranked Crye-Leike No. 10 among the 500 largest residential real estate brokerage firms in the United States, three notches up from its No. 13 ranking last year. It further ranked Crye-Leike No. 6 in the nation among the 133 largest privately owned and independent real estate companies, a move up from its previous No. 8 ranking last year. The research report was prepared and recently released by REAL Trends, Inc., the leading provider of information and analysis for the residential real estate industry,(www.realtrends.com). These rankings were based on Crye-Leike achieving 22,029 closed transaction sides among its 51 branch offices in 2002. Crye-Leike ranked No. 25 in closed sales volume at $3.12 billion in REAL Trends' separate ranking by sales volume. A transaction side represents either the listing side or the selling side of a closed transaction. "Due to continued consolidation in the industry, many firms moved up in rankings," said Steve Murray, editor of Denver-Colo.-based REAL Trends, a publishing and communications company. NRT, the nation's largest real estate company, continued its record growth through acquisitions with the addition of such real estate luminaries as Arvida Realty in Florida and The DeWolfe Companies in New England, both of which are multi-billion dollar sales volume companies that ranked among the Top 11 in last year's report. Chief Executive Officer Harold E. Crye of Crye-Leike credits the company's success and No. 10 national ranking to its focused strategy on customer service and being a full-service brokerage firm. "For the past 26 years, Crye-Leike's mission has been to become a true one-stop shopping place for the consumer," said Crye. "Buying real estate is a very stressful life event. Our job as real estate professionals is to simplify their experience by providing those needed services a client must have to complete the real estate transaction." To that end, Crye says his company has focused on cross-selling its services such as mortgage, relocation, title and insurance and expanding its range of homeownership services. The REAL Trends Report substantiates his claim by ranking Crye-Leike as seventh in the nation among those Top 25 real estate firms who provide total real estate services. According to the report, Crye-Leike had 13,131 in total settlement services transactions. "Extending our geographic reach and depth of services as well as making technology investments and offering aggressive agent training and education programs are all strategies that have positioned Crye-Leike among the top industry leaders," says Crye. ""We have spent time, money and resources into investing in state-of-the-art technology to serve our clients and sales associates," says Crye. "We embrace the Internet as a vehicle to improve our core capabilities and to pursue new business opportunities related to real estate services. Technology is allowing us to reduce operating expenses and to handle the entire homeownership lifecycle for our clients." Other factors Crye attributes to the company's successful sales record in 2002 included entering new markets in Central Arkansas, adding and expanding offices in its Greater Memphis and Nashville regions as well as expanding their presence through franchising within outlying areas in Florida, Kentucky, Mississippi, Tennessee, Kentucky and other contiguous states. Tennessee real estate firms that ranked in the Top 500, along with Crye-Leike, included: Bob Parks Realty of Murfreesboro (No. 78); Realty Executives Associates of Knoxville (No. 102); Coldwell Banker Barnes /Snow & Wall of Brentwood (No. 130); RE/MAX Elite of Brentwood (No. 193) Coldwell Banker Wallace & Wallace of Knoxville (No. 221); Realty Center/ GMAC of Chattanooga (No. 270); RE/MAX Preferred Properties, Inc. of Knoxville (No. 302); Prudential Professionals Realty of Clarksville (No. 398); and, Shirley Zeitlin & Co. (No. 425), all rankings based on closed transaction sides. See Exhibit I for detailed rankings. While Crye-Leike ranked No. 6 in the nation among the 133 largest privately owned and independent real estate companies, only two other real estate firms in Tennessee qualified within this category. Bob Parks Realty of Murfreesboro ranked No. 36 in the nation, with 6,129 closed transaction sides and 12 offices. Shirley Zeitlin & Co. of Nashville was No. 123 with 1,447 closed transaction sides and three offices. According to the report, the industry's largest and most successful local, regional and national brokerage companies collectively closed more than $650 billion in residential sales in 2002, representing more than 2.85 million in residential real estate transaction sides. About Crye-Leike. Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 10th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,300 sales associates and 63 branch and franchise offices located in 34 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $3.17 billion and 22,198 closed transaction sides corporate wide in 2002. As a full service real estate company, Crye-Leike offers real estate and related services, including: residential real estate services; relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; REO foreclosure services; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services. See EXHIBIT I and EXHIBIT II, for Tennessee residential real estate brokerage firms that ranked in the Top 500 nationwide.   EXHIBIT I Rank by Closed Transaction Sides Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 2002 as released by REAL Trends Inc. in its 2003 REAL Trends 500 Report. Note: Transaction sides and sales volume figures reflect residential transactions only.   Rank by Closed Transaction Sides Company Name 2002 Sides & Sales Volume Headquarters   10 Crye-Leike (Independent)22,029 sides; $3.12 billion in sales (Chattanooga, Memphis & Nashville in Tenn. & Little Rock, Ark)   78 Bob Parks Realty (Independent)6,129 sides; $ 941.9 million in sales (Murfreesboro)   102 Realty Executives Associates (Franchise) 4,872 sides; $ 700.8 million in sales (Knoxville)   130 Coldwell Banker Barnes/Snow & Wall (Franchise) 4,005 sides; $ 558.6 million in sales (Brentwood)   193 RE/MAX Elite (Franchise) 3,115 sides; $ 494.1 million (Brentwood)   221 Coldwell Banker Wallace & Wallace (Franchise) 2,778 sides; $ 421.7 million in sales (Knoxville)   270 Realty Center GMAC (Franchise) 2,347 sides; $ 365 million in sales (Chattanooga)   302 RE/MAX Preferred Properties, Inc. (Franchise) 2,087 sides; $290.5 million in sales (Knoxville)   398 Prudential Professionals Realty (Franchise) 1,546 sides; $ 174.8 million in sales (Clarksville)   425 Shirley Zeitlin & Co. (Independent) 1,447 sides; $ 417.1 million in sales (Nashville)     EXHIBIT II Re-Ranked by Closed Sales Volume Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 2002 as released by REAL Trends Inc. in its 2003 REAL Trends 500 Report. Note: Transaction sides and sales volume figures reflect residential transactions only.   Re-Rank by Closed Sales Volume Company Name 2002 Sides & Sales Volume Headquarters   25 Crye-Leike (Independent) 22,029 sides; $3.12 billion in sales (Chattanooga, Memphis & Nashville in Tenn. & Little Rock, Ark)   126 Bob Parks Realty (Independent)6,129 sides; $ 941.9 million in sales (Murfreesboro)   167 Realty Executives Associates (Franchise) 4,872 sides; $ 700.8 million in sales (Knoxville)   216 Coldwell Banker Barnes/Snow & Wall (Franchise) 4,005 sides; $ 558.6 million in sales (Brentwood)   246 RE/MAX Elite (Franchise) 3,115 sides; $ 494.1 million (Brentwood)   287 Coldwell Banker Wallace & Wallace (Franchise) 2,778 sides; $ 421.7 million in sales (Knoxville)   288 Prudential Professionals Realty (Franchise) 1,546 sides; $ 174.8 million in sales (Clarksville)   335 Realty Center GMAC (Franchise) 2,347 sides; $ 365 million in sales (Chattanooga)   406 RE/MAX Preferred Properties, Inc. (Franchise) 2,087 sides; $290.5 million in sales (Knoxville)     425 Shirley Zeitlin & Co. (Independent) 1,447 sides; $ 417.1 million in sales (Nashville)            

Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, posted a record sales performance of over $3 billion in 2002, the highest ever in company history. Crye-Leike officials made this announcement to its 2,300 sales associates at the company's 26th annual meetings held January 2003 in its Memphis, Nashville, Chattanooga and Arkansas regions. Tennessee-based Crye-Leike, the nation's 13th largest residential real estate company, reported $3.17 billion in year-end sales volume company wide for 2002, up 7.29 percent from $2.95 billion through Dec. 2001. Crye-Leike's sales associates in a six-state southern region of the United States handled 22,198 closings in 2002, a 6.89 percent increase from the 20,768 closings reported through Dec. 2001. Crye-Leike is ranked No. 13 among the 500 largest residential real estate brokerage firms in the United States and No. 8 in the nation among the 133 largest privately owned and independent real estate companies. "Unprecedented low mortgage rates and providing customers with a ?one-stop shopping' experience helped us achieve our best year ever," said Chief Executive Officer Harold E. Crye who, along with partner and president Dick Leike, founded the company in Memphis, Tennessee in 1977. "Crye-Leike has consistently experienced an escalating rate of growth in sales since our company's early beginnings of reaching $19.4 million our first year," said Crye. "Sales grew 415.8 percent during our first 10 years of business. Our percentage of growth has steadily climbed over the past 15 years between 103 percent and 145 percent, averaging 118.6 percent." It may have taken Crye-Leike 17 years to reach its first milestone of $1 billion in sales, but the momentum has since continued at a record pace. The six years immediately following proved that Crye-Leike was on a continual upswing with its first $3 billion sales record set in 1999 at $3.03 billion. Crye-Leike reports $795.69 million in sales during the fourth quarter of 2002, a 19.5 percent increase over $665.86 million this same period in 2001. These figures represent 5,617 units sold during the fourth quarter in 2002, a 15 percent increase from 4,851 closings reported for the same period in 2001. For the month of December 2002, Crye-Leike reported $269.09 million in sales, up at 27 percent from $212.04 million in 2001. These figures represent 1,926 units sold in December 2002, a 19.5 percent increase from 1,598 closings reported for the same period in 2001. Average residential sales prices in December for Crye-Leike's major metro areas compared to December 2001 were: $129,684 in Chattanooga, up 28 percent from $101,179; $100,894 in Little Rock, Ark., up 7.7 percent from $102,950; $145,929 in Memphis, up 3.7 percent from $140,758; and $137,740 in Nashville, up 5.7 percent from $130,222. Crye-Leike's 2002 sales figures include new and existing single family homes, condos and duplexes as well as commercial properties within a four-state regional market area (Tennessee, Arkansas, Mississippi and Georgia.) Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Highlights of Crye-Leike's year 2002 in review included: opened six new corporate-owned offices and added six new Crye-Leike franchise offices; expanded its regional operations into Little Rock, Arkansas, making it Crye-Leike's fifth regional office, joining Memphis, Nashville, Chattanooga and Johnson City; and relocated and expanded its commercial operations in Middle Tennessee. "Plans for 2003 include a growth strategy of expanding corporate and franchise offices as well as broadening affiliate services into new market areas within Tennessee and contiguous states," said Crye.   CRYE-LEIKE'S ARKANSAS REGION. Crye-Leike expanded its regional headquarters into Little Rock, Arkansas during the second quarter of 2002, a move that has more than doubled the company's growth in Arkansas real estate sales since establishing a Jonesboro corporate office in 1999. Crye-Leike of Arkansas, Inc. reported fourth-quarter sales at $25.8 million in 2002, representing a 114.7 percent increase over same-quarter results a year prior. Its 244 real estate property sales in the fourth quarter of 2002 represent a 102 percent increase over comparable quarterly results a year prior. The local sales volume in Dec. 2002 was $9 million, up 82 percent from last Dec., representing 81 units closed, a 69 percent increase from the same period in 2001. Year-end sales volume in 2002 for Crye-Leike of Arkansas, Inc. totaled $77 million, up 54 percent from $50.08 million through 2001. These figures represent 768 in property sales, a 44 percent increase over comparable year-end results in 2001. "We continue to see Little Rock as a growth market for the company, providing state-of-the-art services that are not readily available, " said Harold E. Crye, chief executive officer and general manager of Crye-Leike of Arkansas, Inc. "Our business plan is to be the market leader in Little Rock within the next three years by establishing a total of six to seven offices in the metro area and recruiting over 300 sales associates." Crye-Leike has six Arkansas corporate and franchise offices in Blytheville, Conway, Hot Springs, Jonesboro and Little Rock (2), with plans to open future offices in Benton and Maumelle. Crye-Leike of Arkansas, Inc. has over 127 sales associates who market residential, commercial, investment property, farms and acreage sales in Craighead, Crittenden, Faulkner, Garland, Mississippi and Pulaski counties.   CRYE-LEIKE'S SOUTHEAST REGION. Crye-Leike of Chattanooga, Inc. continues to show a strong percentage of regional growth in company wide quarterly sales, up 35 percent in the fourth quarter from a year earlier. Year-end sales volume totaled $395.20 million, up 22.4 percent, and property sales totaled 3,234, a 20 percent increase from the sales reported through 2001. Sales volume in the fourth quarter totaled $105 million, up 35 percent, and property sales totaled 836, up 24 percent from same-quarter results a year earlier. Local sales volume in December 2002 was $38 million, up 95 percent from last December, representing 291 units closed, a 52 percent increase from the same period in 2001. At Crye-Leike's Chattanooga annual meeting held in January 2003, its CEO Harold Crye announced to its 300-plus Chattanooga sales force that Crye-Leike is now the market leader in Chattanooga after entering the area's real estate market just five years ago. "In comparing our year-end sales to that of the Chattanooga real estate market, Crye-Leike has jumped ahead 22 percent and is now ranked the No. 1 real estate company in the Greater Chattanooga area, based on our total number of closed transactions," said Crye who also serves as general manager of Crye-Leike of Chattanooga Inc. "This ranking represents a 24 percent share of the market." He attributes Crye-Leike's steady five-year growth in Chattanooga sales to the company's aggressive business strategy since corporate offices were established in December 1997. Crye-Leike of Chattanooga has grown from four corporate offices to 11 corporate and franchise offices in the Greater Chattanooga area and from 95 to over 300 sales associates. Crye-Leike of Chattanooga, Inc. has 11 branch and franchise offices in seven counties within the Greater Chattanooga area: Bradley, Hamilton, McMinn, Meigs, Rhea and Roane counties, including Catoosa County in North Georgia.   CRYE-LEIKE'S WEST TENNESSEE REGION. Sales in the Greater Memphis area by Crye-Leike, Inc. (Memphis) represent 46 percent of the company's total sales volume. Crye-Leike defines its Greater Memphis market area by including a corporate office in West Memphis, Ark. as well as offices in Olive Branch, Hernando, Southaven and Tupelo, Miss. that are comparable to Memphis' Metropolitan Statistical Area (MSA). Fourth-quarter sales of $406.50 million in 2002 represent a 24.7 percent increase over same-quarter results a year prior. Its 2,663 property sales in the fourth quarter of 2002 represent a 16.3 percent increase over comparable quarterly results a year prior. The company reports year-end sales volume in the Greater Memphis area at $1.62 billion in 2002, up 9.5 percent from $1.48 billion through 2001. Year-end closings were 10,664, up 7.7 percent over comparable year-end results in 2001. The local sales volume in December 2002 was $136.8 million, up 19.5 percent from $114.5 million in 2001. These figures represent 930 units sold in December 2002, a 15 percent increase from 810 closings reported for the same period in 2001. Crye-Leike, Inc. in Memphis has a sales force of over 1,100 sales associates who are located in 18 corporate offices in four counties throughout a three-state Mid-South region in Crittenden County, Ark., DeSoto and Lee counties in Miss. and Shelby County, Tenn.   CRYE-LEIKE'S MIDDLE TENNESSEE REGION. Sales in the Greater Nashville area by Crye-Leike of Nashville, Inc. represents 33 percent of the company's total sales volume. Celebrating its 10th anniversary in the Nashville metropolitan area, Crye-Leike of Nashville, Inc. disclosed $ 253.1 million in sales volume during the fourth quarter of 2002, up 3.8 percent, and 1,835 in property sales, up 5.3 percent from same-quarter results a year earlier. Crye-Leike of Nashville's year-end sales volume totaled $1.05 billion which represented 7,353 closings in 2002 by its 800 sales associates in an eight-county Midstate region. The month of December showed a local sales volume of $84.3 million, up 18 percent from last December, representing 612 units closed, a 11.4 percent increase from the same period in 2001. Crye-Leike of Nashville, Inc. has 20 corporate and franchise offices in 10 counties in Middle Tennessee and Kentucky: Davidson, Grundy, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties in Tenn. and Warren County in Ky.   CRYE-LEIKE'S NORTHEAST TENNESSEE REGION. Crye-Leike established its first Northeast Tennessee corporate office in Johnson City, Tenn. in January 2000 as Crye-Leike of East Tennessee, Inc. (Johnson City). Year-end sales in 2002 were up from the sales reported through 2001. Year-end sales volume totaled $23.22 million and property sales totaled 179 by Crye-Leike's 32 sales associates. Sales volume in the fourth quarter of 2002 totaled $ 5.4 million and local sales volume in December 2002 was $1.3 million. Crye-Leike of East Tennessee, Inc. has three corporate and franchise offices in Northeast Tennessee in Washington, Hamblen and Greene counties.   ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 26 years, is the nation's 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,300 sales associates and 62 corporate and franchise offices located in 33 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. As a full service real estate company, Crye-Leike offers real estate and related services, including: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; home improvement services; auction services; apartment locator services; franchise sales and builder resource services. As a member of the RELO International Relocation Network, its Relocation Services Division assists families, individuals and corporate groups relocating to virtually any community in the United States or abroad with comprehensive services.        

Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, disclosed its third quarter sales which reflect sales activity in its 63 branch and franchise offices, located in 32 counties throughout a six-state southern region in Tennessee, Arkansas, Florida, Kentucky, Mississippi and Georgia. Tennessee-based Crye-Leike, the nation's 13th largest real estate company, reported $878.58 million in sales during the third quarter, an increase of 6.58 percent over $824.37 million this same period last year. This volume was generated on the sale of 5,948 properties handled by Crye-Leike's 2,200 sales associates. Year-to-date sales volume for Crye-Leike company wide was $2.37 billion, up 3.73 percent from $2.28 billion through September 2001. Year-to-date closings were 16,581, up 4.17 percent from the 15,917 closings reported through September 2001. For the month of September 2002, Crye-Leike reports $265 million in sales, up a significant 17.27 percent from post 9/11 sales of $225.97 million last year. These figures represent 1,803 units sold in September, an 11.92 percent increase from 1,611 closings reported for the same period last year. Average residential sales prices in September 2002 for Crye-Leike's major metro areas compared to September 2001 were: $128,595 in Chattanooga, up 2 percent from $126,123; $158,093 in Memphis, up 7 percent from $147,766; $142,270 in Nashville, up 3.9 percent from $136,988; and $121,675 in Jonesboro, Ark., up 20 percent from $101,486. The National Association of Realtors' 2002 Housing Forecast predicts the U.S. median sales price of existing single-family homes to be $157,800, up 6.8 percent from 2001. NAR predicts the national median price in 2003 to be $164,300. "In 2003, we expect the market to come into a general equilibrium between buyers and sellers and a return to normal appreciation patterns," said NAR spokesperson Walter Molony. Crye-Leike's disclosed sales figures include new and existing family homes, condos and duplexes as well as commercial properties. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. "With prospects for the nation's economy slowly improving and interest rates remaining historically low, the demand for housing is continuing to be strong as reflected in Crye-Leike's brisk sales activity over the second and third quarters," said Harold E. Crye, chief executive officer. "The housing market is helping to revive the economy; it is becoming the leading driver of economic growth." "Our sales associates are seeing the housing market being fueled by first time and move-up buyers," said Crye. "Nearly every seller becomes a buyer immediately after selling. The upper end of the market is slow because that sector is most affected by the stock market. Additionally, our agents are seeing the encouraging trends in minorities and recent immigrants who are at the point of being able to afford their first home."   CRYE-LEIKE INC. (MEMPHIS) Crye-Leike reports local sales volume in the Greater Memphis area market to be $461.87 million in the third quarter this year, up 9.4 percent from $422.07 million last year. Crye-Leike's report covers the Greater Memphis area, including West Memphis, Ark., and Olive Branch and Southaven, Miss. Third-quarter unit sales totaled 2,889, up 3.77 percent from same-quarter results a year earlier. Year-to-date sales volume for Crye-Leike in the Greater Memphis area was $1.21 billion, up 5.2 percent from $1.15 billion through September 2001. Year-to-date closings were 8,001, which is a 5.08 percent increase from the 7,614 closings reported through September 2001. September sales of $136.87 million represent a 16.82 percent increase from $117.16 million over comparable monthly results last year. There were 865 real estate closings in September, a 9 percent increase from 793 closings reported for the same period last year.   CRYE-LEIKE OF ARKANSAS INC. (LITTLE ROCK & JONESBORO) Crye-Leike of Arkansas Inc. disclosed a record 2002 sales volume in the third quarter of $22.44 million, up 60.5 percent from last quarter, and property sales totaled 208, up 39.6 percent from the third quarter of 2001. The significant increase is reflective of Crye-Leike's recent move into the Little Rock market in June 2002, making Little Rock Crye-Leike's fifth regional office, joining Memphis, Nashville, Chattanooga and Johnson City. Year-to-date sales volume totaled $51.16 million, representing 524 units sold, a 34.5 percent increase from the sales reported through 2001. The month of September showed a local sales volume of $7.67 million, representing 63 units sold, a 71.7 percent increase from the same period last year.   CRYE-LEIKE OF CHATTANOOGA INC. In Chattanooga, Crye-Leike continues to show a strong percentage of growth in quarterly sales since its offices were established in 1998. Sales volume in the third quarter totaled $107.44 million and property sales totaled 860, up 18.6 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $290.37 million, up 18.5 percent, and property sales totaled 2,398, an 18.9 percent increase from the sales reported through 2001. The month of September showed a local sales volume of $33.6 million, up 37.2 percent from last September, representing 261 units closed.   CRYE-LEIKE OF NASHVILLE INC. In the Nashville metro area, Crye-Leike's third-quarter sales were $282.79 million, representing a 3.1 percent decrease from same-quarter results a year earlier. Its 1,955 real estate property sales in the third quarter this year represent a 3.3 percent decrease over comparable quarter results last year. The local sales volume in September this year was $84.86 million, up 9.41 percent from last September, which represents 594 closings, a 5 percent increase from last year. Year-to-date sales volume for Crye-Leike of Nashville was $800.79 million, down 4 percent from $834.64 million through 2001. These figures represent 5,518 in property sales, a 3.9 percent decrease over comparable year-to-date results last year.   CRYE-LEIKE OF EAST TENNESSEE INC. (JOHNSON CITY) Crye-Leike of East Tennessee in Johnson City reports year-to-date sales volume at $ 17.79 million, representing 140 units sold, up 4.8 percent from $16.98 million through September 2001.   ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a privately held company, is a full service real estate company with over 2,200 sales associates, 600 support staff and 63 branch and franchise offices, located in 32 counties throughout a six-state southern region in Tennessee, Arkansas, Kentucky, Florida, Mississippi and Georgia. Crye-Leike ranks No. 13 among the nation's top 500 largest residential real estate brokerage firms and No. 8 among the nation's 136 largest privately owned and independent firms, according to REAL Trends, Inc., the leading provider of information and analysis for the real estate industry and based on attaining sales of $2.9 billion and 20,564 closed transaction sides corporate wide in 2000. For real estate information on residential and commercial property listings available for sale in Tennessee, Georgia, Mississippi or Arkansas by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - An economic recession during second quarter apparently wasn't stopping house hunters from becoming buyers of residential or commercial real estate, reports the nation's 13th largest real estate firm. Memphis-based Crye-Leike, Realtors, whose celebrating its 25th anniversary in business, says its number of units sold in the second quarter of 2002 were up 2.25 percent over the number of units sold in the same quarter a year prior. Units sold totaled 6,095 compared to 5,961 a year prior. Sales for the second quarter totaled $861.84 million, down slightly from $865.36 in the same quarter last year. The company's year-to-date units sold also continued to show steady growth, up 4.1 percent to 10,633 from 10,214. These figures represent $1.49 billion in sales year-to-date, a 2.1 percent increase from $1.46 billion reported for the same period last year. For the month of June, Crye-Leike reports $319.6 million in sales, down marginally at .2 percent from $320.3 million last year. These figures represent 2,130 units sold in June, remaining unchanged at 2,131 for the same period last year. Average residential sales prices in June for Crye-Leike's major metro areas compared to June 2001 were: $120,156 in Chattanooga, down from $130,425; $158,167 in Memphis, remaining unchanged from $158,298; and $155,351 in Nashville, up from $151, 195. Crye-Leike's disclosed second quarter sales figures for 2002 include new and existing family homes, condos and duplexes as well as commercial properties within a four-state regional market area (Tennessee, Arkansas, Mississippi and Georgia.) Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Harold Crye, chief executive officer of Crye-Leike, notes that the solid pace of company sales shows that homebuyers are largely undeterred by the recent dramatic fluctuation in the stock market. "With interest rates at a 32-year historical low, owning a home is more affordable," said Crye. "Additionally, big and small investors have turned perception into reality by moving more toward real estate ownership of both residential and commercial properties as an alternative to investing in the stock market," Crye said. Real estate investments offer such advantages as depreciation and cash flow through rent collection that traditional stock options don't offer, he added. Following is a summary of second quarter sales results within Crye-Leike's five regional market areas: Southeast Tenn. Region - Chattanooga; Arkansas Region - Jonesboro; West Tennessee Region - Memphis; Middle Tennessee Region - Nashville and Northeast Tenn. Region - Johnson City. Crye-Leike of Chattanooga displayed the greatest percentage of growth company wide during second quarter. Crye-Leike of Arkansas and Crye-Leike, Inc. (Memphis) showed modest growth in quarterly sales from a year earlier.   CRYE-LEIKE INC. (WEST TENN. REGION - MEMPHIS, TENN.)   Second-quarter sales of $424.8 million within Crye-Leike's West Tennessee Region represents a 2.8 percent increase. Its 2,818 real estate property sales in the second quarter this year represent a 6.4 percent increase over comparable quarterly results last year. Year-to-date sales volume for Crye-Leike Inc. (Memphis) was $747.8 million, up 2.8 percent from $727.8 million halfway through 2001. These figures represent 5,112 in property sales, a 5.8 percent increase over comparable year-to-date results last year. The local sales volume in June this year was $157.7 million, up 2 percent from last June, which represents 983 closings, a 2.8 percent increase from last year. Crye-Leike's second quarter report for the West Tenn. Region includes sales in Shelby, Fayette and Tipton counties in Tennessee as well as those in DeSoto and Lee counties in Mississippi. Crye-Leike's West Tennessee Region has a sales force of over 1,100 sales associates who are located in 18 branch and franchise offices in three counties, which includes Hardin and Shelby counties and DeSoto and Lee counties in Miss.   CRYE-LEIKE OF CHATTANOOGA INC. - SOUTHEAST TENN. REGION   Within Crye-Leike's Southeast Tennessee Region, Crye-Leike continues to increase its market share in the four years it has had a presence in Chattanooga. Sales volume in the second quarter totaled $108.6 million, up 7.4 percent, and property sales totaled 915, up 13.8 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $182.9 million, up 18.4 percent, and property sales totaled 1,538, a 17.8 percent increase from the sales reported halfway through 2001. The month of June showed a local sales volume of $39 million, up 2.4 percent from last June, representing 325 units closed, an 11 percent increase from the same period last year. Crye-Leike of Chattanooga, Inc. has eight branch offices in four counties within the Southeast Tenn. Region: Bradley, Hamilton, and McMinn counties, including Catoosa County in North Georgia. Three Crye-Leike franchise offices are located in Decatur, Meigs County, Kingston, Roane County and in Spring City, Rhea County. Sales associates within Crye-Leike's Southeast Tenn. Region currently total over 275.   CRYE-LEIKE OF ARKANSAS (ARKANSAS REGION: JONESBORO & WEST MEMPHIS) Crye-Leike reports local sales volume in the Greater Jonesboro and West Memphis, Ark. areas to be $24.5 million in the second quarter this year, up 7.5 percent, and property sales totaled 264, up 1.5 percent from same-quarter results three months prior. Year-to-date sales volume totaled $43.6 million, up 8.6 percent from $40.1 million through June 2001. Year-to-date closings were 480, a 6.4 percent increase from 451 closings reported through June 2001. The month of June this year showed a local sales volume of $8.7 million, a 26.9 percent increase from $6.9 million over comparable monthly results last year. There were 89 real estate closings in June, a 7.2 percent increase from 83 closings reported for the same period last year. Crye-Leike of Arkansas, Inc. has a sales force of over 66 sales associates who are located in four branch and franchise offices within four counties in Arkansas: Craighead, Crittenden, Mississippi and Pulaski. Its branch and franchise offices are conveniently located in: Blytheville, Little Rock, Jonesboro and West Memphis. Crye-Leike established its first market presence in Arkansas in West Memphis in February 1997, followed by Jonesboro in December 1999. Its regional headquarters was established in Little Rock, Ark. in May 2002. Its first Arkansas franchise was established in Blytheville in July 2000.   CRYE-LEIKE OF NASHVILLE INC. (MIDDLE TENN. REGION)   Second quarter sales for Crye-Leike's Middle Tennessee Region totaled $298.3 million, down 7 percent, and property sales totaled 2,057, down 6 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $518 million, down 4.6 percent, and property sales totaled 3,563, a 4.3 percent decrease from sales reported halfway through 2001. June sales of $111.7 million represent a 5.3 percent decrease from last June, with 717 units closed, an 8 percent decrease from the same period last year. Crye-Leike of Nashville, Inc. entered Nashville's real estate market in 1992. It has 22 branch and franchise offices in 10 counties throughout a two-state Mid-South region: TENNESSEE (Middle Tennessee) - Davidson, Grundy, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties; and KENTUCKY - Warren County. Sales associates within Cye-Leike's Middle Tennessee Region currently total over 800.   CRYE-LEIKE OF EAST TENNESSEE INC. (NORTHEAST TENN. REGION - JOHNSON CITY) Year-to-date sales volume within Crye-Leike's Northeast Tenn. Region totaled $13.7 million, up 23.5 percent, and property sales totaled 62, a 13 percent increase from sales reported halfway through 2001. Local sales volume in the second quarter of this year were $5.6 million, representing 42 units sold. The local sales volume for June this year was $2.4 million, with 17 units sold. Crye-Leike established its first East Tennessee branch office in Johnson City, Tenn., Washington County, in January 2000. Crye-Leike's Northeast Region has four branch and franchise offices in three counties: Greene, Hamblen and Washington counties. Crye-Leike of East Tennessee (Johnson City) has 23 sales associates who market residential, commercial and investment property sales in Washington, Sullivan, Carter and Unicoi counties.   ABOUT CRYE-LEIKE Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation's 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 62 branch and franchise offices located in 30 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida. Crye-Leike attained sales of $2.95 billion and 20,768 closed transaction sides corporate wide in 2001. For real estate information on residential and commercial property listings available for sale nationwide by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - Representatives from Crye-Leike, Realtors, the nation's 13th largest real estate company, have been invited to share their expertise with Realtors attending the Alabama Association of Realtors' 76th Annual Convention & Trade Show, to be held September 11 - 13, 2002 at the Peabody Hotel in Memphis, Tenn. where Crye-Leike's corporate headquarters is located. Harold E. Crye, co-founder and chief executive officer of Crye-Leike, will address Realtors at a general session on Thurs., September 12, 1p.m. to 2 p.m. His speech, entitled "Brokers Unplugged, True Stories and Unusual Events," will discuss Realtors' biggest mistakes that cost them millions in sales, one of which is the failure to maintain contact with past customers. Carol Williams will share her 25 years of experience as Crye-Leike, Realtors' director of education in her program entitled, "Marketing from Contact to Contract to Closing." She will focus on keeping the agents' name in front of the customer for life through the use of personal marketing as well as marketing properties. Her session is scheduled for Wed., Sept. 11, 3:30 p.m. to 5:30 p.m. Crye-Leike sales associate Allyson Avera, ABR, will lead an informative session, along with Sheila Hensley, ABR, C-CREC of Executive Relocation Services Co., Inc., on buyer agency on Thurs, Sept. 12, 3:30 p.m. to 5 p.m. As an accredited buyer representative (ABR) herself, Avera will provide participants first-hand knowledge, practical applications and tips on working with buyers as a buyer's representative, covering such topics as risk management, marketing and real estate consulting. The Alabama Association of Realtors' Convention in Memphis is expected to attract over 450 Realtors representing more than 31 local Realtor boards and over 1,400 real estate firms from Alabama. Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation's 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 62 branch and franchise offices located in 30 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida.  

Memphis, Tenn. - Crye-Leike, the nation's 13th largest real estate company and the largest in Tennessee and the Mid-South, is marking its 25th anniversary year by erecting a bronze commemorative plaque in the lobby of its headquarters building in Memphis, Tenn. An unveiling ceremony of Crye-Leike's silver anniversary plaque will be held on Friday, July 19, 2002 at 12 p.m. in the lobby of Crye-Leike's Quail Hollow building, located at 6525 Quail Hollow. City of Memphis Mayor Willie W. Herenton and Shelby County Mayor Jim Rout issued a joint proclamation declaring the day as Harold Crye & Dick Leike Day. "The plaque acknowledges Crye-Leike's establishment in January 1977 by co-founders Harold Crye and Dick Leike and commemorates the company's dedication, during its first 25 years in business, to the growth and development of local communities and the real estate industry," says Joyce Friedman, Crye-Leike's director of public relations. "Through the vision and leadership of Harold Crye and Dick Leike, Crye-Leike grew to become the 10th largest real estate company in the nation and No. 1 in the Mid-South during this 25-year period," says Steve Brown, vice president and general manager of residential real estate for Crye-Leike's Memphis region who has been affiliated with Crye-Leike for the past 22 years. "Looking back, our company was built upon a mutual respect for each other's talents, coupled with our desire to succeed," said Leike. "When Harold and I first decided to start a real estate company, I don't think that we wanted to be the biggest company, but we did have a sincere desire to provide the best real estate sale services around," said Leike." Our growth was a result of just that. Since ours was a true service business, providing the best service fostered our company growth." "With 25 years of service behind us, we have developed a customer base that has come to know and trust the name 'Crye-Leike,' " said Crye. "Our loyal customers and the strength of our dedicated sales associates and staff have made Crye-Leike No. 1 and we are eternally grateful." In its 25 years, Crye-Leike has undergone significant growth and expansion: Crye-Leike became the largest real estate firm in Memphis, Tenn. within three years of its establishment in 1977. Leike and Crye took the company to new heights with their full service approach to customer service and further became known as innovators in commission structure and marketing, credited for bringing order and consolidation to an unstructured industry. They opened a relocation division, a commercial property division, a property leasing and management company, an insurance agency, a mortgage division, a home improvement division and an auction division. - The year 1988 marked the beginning of Crye-Leike being recognized nationally in the real estate industry at No. 34 among the Top 500 real estate companies in the nation.   - Around 1991, Crye and Leike both decided that it was more cost efficient to move into new markets rather than continue seeking a bigger share of the hometown business. The company opened its second regional office in Nashville, Tenn. in 1992 and became the No. 1 provider of real estate services in Middle Tennessee within one year.   In 1993, Crye-Leike passed the $1 billion mark over a one-year period. The year 1995 was a pivotal year for Crye-Leike when it moved up in ranking from No. 31 to No. 15 in the nation among the Top 500 real estate companies, with a sales volume of $1.58 billion and 14, 356 transaction sides. - Crye-Leike opened its third regional office in Chattanooga, Tenn. in 1997 and four years later, became the No. 1 market leader in the number of closed transactions, with agent growth and sales volume more than tripling.   In 1998, Crye-Leike surpassed the $2 billion mark over a period of one year, ranking it as the 10th largest real estate company in the nation. And, just one year later in 1999, Crye-Leike reached the $3 billion milestone at $3.02 billion. In 1999, Crye-Leike further expanded its regional presence by opening a fourth regional office in East Tennessee, Johnson City. In 2000, Crye-Leike entered Georgia, broadening its Mid-South presence. The company's fifth regional office was established in Little Rock, Ark. in June 2002. Franchising was yet another expansion strategy used. Since 1999, introduction of the franchise concept has allowed Crye-Leike to broaden its market presence into five southern states: Ark., Fla., Ky., Miss. and Tenn., with future plans to expand into contiguous states. Today, Crye-Leike (www.crye-leike.com) has a network of over 2,200 sales associates, 500 support staff and 62 branch and franchise offices, located in 30 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida.  

Memphis, Tenn. - Crye-Leike, Inc. of Memphis, Tenn., one of five regional offices of Crye - Leike, the nation's 13th largest real estate company, was recently ranked No. 31 among the top 100 private companies in the Greater Memphis area by the Memphis Business Journal. The ranking was based on Crye-Leike's regional office generating $120.4 million in revenue in 2001. The list ranks companies from many different industries by gross revenues. Companies must maintain their headquarters in the Memphis metropolitan statistical area (MSA) to qualify. The MSA includes Shelby, Fayette and Tipton counties in Tennessee, DeSoto County in Mississippi and Crittendon County in Arkansas. Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 62 branch and franchise offices located in 30 counties throughout a five-state region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia. Crye-Leike attained sales of $2.95 billion and 20,768 closed transaction sides corporate wide in 2001. Its regional offices are located in Little Rock, Ark.; and Memphis, Nashville, Chattanooga and Johnson City in Tennessee. Crye-Leike, Inc. in Memphis, the company's West Tennessee regional office, has a sales force of over 1,100 sales associates who are located in 20 branch and franchise offices in five counties throughout a two-state region: MISSISSIPPI - DeSoto, Lafayette, Lee and Union counties; and TENNESSEE: Hardin and Shelby counties. As a full service real estate company, Crye-Leike offers real estate and related services, including: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services.  

Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, announced that it has held its No. 13 national ranking among the nation's largest residential brokerage firms. A recent report ranked Crye-Leike No. 13 among the 500 largest residential real estate brokerage firms in the United States and No. 8 in the nation among the 133 largest privately owned and independent real estate companies. The report was prepared and recently released by REAL Trends, Inc., the leading provider of information and analysis for the residential real estate industry. These rankings were based on Crye-Leike achieving 20,406 closed transaction sides among its 47 branch offices in 2001. Crye-Leike ranks No. 24 in closed sales volume at $2.9 billion when REAL Trends re-ranked the same top 500 real estate companies. "This 2002 REAL Trends 500 report revealed a flattened growth curve and many changes in the rankings of leading firms," said Steve Murray, co-editor of Denver-Colo.-based REAL Trends, a publishing and communications company. "Due to continued consolidation in the industry, many firms moved up in rankings." Franchised firms represent 70 percent of those listed in the report, while 30 percent were independent firms. Other Tennessee real estate firms that ranked in the top 500, along with Crye-Leike, included: Bob Parks Realty of Murfreesboro (No. 72); Realty Executives Associates of Knoxville (No. 94); Coldwell Banker Barnes /Snow & Wall of Brentwood (No. 154); Coldwell Banker Wallace & Wallace of Knoxville (No. 256); Realty Center/ Better Homes & Gardens of Chattanooga (No. 270); and RE/MAX Elite of Brentwood (No. 299), all rankings based on closed transaction sides. See Exhibit I for detailed rankings. While Crye-Leike ranked No. 8 in the nation among the 133 largest privately owned and independent real estate companies, only two other real estate firms in Tennessee qualified within this category. Bob Parks Realty of Murfreesboro ranked No. 36 in the nation, with 6,149 closed transaction sides and 12 offices. Shirley Zeitlin & Co. of Nashville was No. 124 with 1,219 closed transaction sides and three offices. NRT, Inc. led the 2002 REAL Trends 500 Report as the largest residential brokerage company in the nation, establishing a real estate record with $117 billion in closed sales volume. The Parsippany, N.J.- based company acquires premier residential real estate brokerage firms and operates them as franchised brokerages under the Coldwell Banker and ERA brand names. According to the report, the industry's largest and most successful local, regional and national brokerage companies collectively closed more than $550 billion in residential sales in 2001, representing more than 2.6 million in residential real estate transaction sides. Chief Executive Officer Harold E. Crye of Crye-Leike credits the company's success and No. 13 national ranking to its focused strategy on customer service and being a full-service brokerage firm, even amid an unpredictable marketplace, technological changes and a rapidly evolving consumer base. "For the past 25 years, Crye-Leike's mission has been to become a true one-stop shopping place for the consumer," said Crye. To that end, Crye says his company has focused on cross-selling its services such as mortgage, relocation, title and insurance and expanding its range of homeownership services "in order to stay in touch with our clients." "Technology investments, aggressive agent training and education programs, and extending our geographic reach and depth of talent are all strategies that have positioned us among the top industry leaders," says Crye. "We have embraced the Internet as a vehicle to improve our core capabilities and to pursue new business opportunities related to real estate services," said Crye. "We have spent time, money and resources into investing in the latest technology to serve our clients and sales associates. Technology is allowing our company to reduce operating expenses for critical items, like call centers and data centers, enabling us to handle the entire homeownership lifecycle for our clients." Other factors Crye attributes to the company's successful sales record in 2001 included entering new markets in Tennessee and Mississippi, adding and expanding offices in its Greater Chattanooga, Memphis and Nashville regions as well as expanding their presence through franchising within outlying areas in Tennessee, Arkansas, Kentucky and other contiguous states. About Crye-Leike. Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation's 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 59 branch and franchise offices located in 27 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia. Crye-Leike attained sales of $2.95 billion and 20,768 closed transaction sides corporate wide in 2001. As a full service real estate company, Crye-Leike offers real estate and related services, including: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; auction services; apartment locator services; franchise sales and builder resource services.   EXHIBIT I Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 2001 as released by REAL Trends Inc. in its 2002 REAL Trends 500 Report:   Company Name, Headquarters & 2001 Sides and Sales Volume Rank Closed by Transaction Sides, Re-Rank by Closed Sales Volume Franchise or Independent   Crye-Leike, (Chattanooga, Memphis, Nashville) & 20,651sides; $2.9 billion in sales 13, 24 Independent   Bob Parks Realty (Murfreesboro) & 6,149 sides; $915 million in sales 72, 107 Independent   Realty Executives Associates (Knoxville) & 5, 019 sides; $724 million in sales 92, 135 Franchise   Coldwell Banker Barnes, Snow and Wall (Brentwood) & 3, 356 sides; $440 million in sales 154, 227 Franchise   Coldwell Banker Wallace and Wallace (Knoxville) & 2, 282 sides; $339 million in sales 256, 298 Franchise   Realty Center, Better Homes and Gardens (Chattanooga) & 2,189 sides; $328 million in sales 270, 303 Franchise   RE/MAX Elite (Brentwood) & 1,963 sides; $328 million 299, 302 Franchise   Shirley Zeitlin and Co. (Nashville) & Sides Not Available; $343 million in sales 467, 293 Independent    

Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, posted near-record sales of $3 billion in 2001 for its third consecutive year during the company's 25-year history. Year-end sales volume company wide for 2001 was $2.95 billion, up .79 percent from $2.93 billion through Dec. 2000. Crye-Leike's 2,200 sales associates in a four-state Mid-South region handled 20,768 closings in 2001, a 1.01 percent increase from the 20,560 closings reported through Dec. 2000. "Crye-Leike is a strong, viable company that continues to grow," said Chief Executive Officer Harold E. Crye-Leike. This year marked Crye-Leike's 25th anniversary in business. In 2001, the company opened five new branch offices and four franchise offices, relocated and expanded operations in four branch offices and opened a new division within the Memphis and Nashville areas, Crye-Leike Home Services, that offers a network of discounted home and family related services to its home buyers and sellers. "Plans for 2002 include expanding offices and franchises as well as broadening services into new market areas within Tennessee and contiguous states," said Crye. Crye-Leike reports $665.86 million in sales during the fourth quarter, remaining relatively unchanged over $665.28 million this same period in 2000. These figures represent 4,851 units sold during the fourth quarter in 2001, a 4 percent increase from 4,650 closings reported for the same period in 2000. For the month of December, Crye-Leike reported $212.04 million in sales, up at 4 percent from $202.23 million in 2000. These figures represent 1,598 units sold in December 2001, a 12 percent increase from 1,425 closings reported for the same period in 2000. Crye-Leike's 2001 sales figures include new and existing single family homes, condos and duplexes as well as commercial properties within a four-state regional market area (Tennessee, Arkansas, Mississippi and Georgia.) Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. CRYE-LEIKE OF ARKANSAS, INC. (JONESBORO) Crye-Leike established its Jonesboro, Ark. office in Dec. 1999. "This location continues to show a strong percentage of growth in sales," said Crye. Year-end sales volume in 2001 for Crye-Leike of Arkansas, Inc. (Jonesboro) totaled $50.08 million, up 38 percent from $36.35 million through 2000. These figures represent 533 in property sales, a 17.4 percent increase over comparable year-end results in 2000. Fourth-quarter sales of $12.04 million in the Jonesboro area in 2001 represent a 34 percent increase over same-quarter results a year prior. Its 121 real estate property sales in the fourth quarter of 2001 represent a 5 percent increase over comparable quarterly results a year prior. The local sales volume in Dec. 2001 was $5 million, up 75 percent from last Dec., representing 48 units closed, a 37 percent increase from the same period in 2000. Crye-Leike of Arkansas, Inc. has 33 sales associates who market residential, commercial, investment property, farms and acreage sales in Craighead, Greene, Lawrence and Poinsett counties. CRYE-LEIKE OF CHATTANOOGA, INC. Crye-Leike of Chattanooga, Inc. continues to show a strong percentage of growth in quarterly sales since its offices were established in December 1997, up a record 36 percent in the fourth quarter from a year earlier. In Chattanooga, Crye-Leike has more than tripled its sales volume from $105.3 million to $322.79 in the four years it has had a presence there. Sales volume in the fourth quarter totaled $77.75 million, up 36 percent, and property sales totaled 673, up 31 percent from same-quarter results a year earlier. Year-end sales volume totaled $322.79 million, up 26.5 percent, and property sales totaled 2,690, a 22 percent increase from the sales reported through 2000. The company attributes its steady growth to its aggressive expanded presence in the Chattanooga market. "Within the past four years, Crye-Leike of Chattanooga has grown from four branch offices to eight branch offices in the Greater Chattanooga area and from 95 to over 260 sales associates," said Jack Webb, vice president and general manager of Crye-Leike of Chattanooga Inc. The company's latest branch office additions were established last year in Cleveland, Tenn. and Fort Oglethorpe, Ga., Crye-Leike's first branch office in the state of Georgia. Crye-Leike of Chattanooga, Inc. has nine branch and franchise offices in five counties within the Greater Chattanooga area: Bradley, Hamilton, McMinn and Meigs counties, including Catoosa County in North Georgia. Branch and franchise offices are conveniently located in Athens, downtown Chattanooga, Cleveland, Decatur, East Brainerd, Hixson, Kingston, Morristown, Signal Mountain and Soddy-Daisy, including Ft. Oglethorpe, Ga. Sales associates within the Chattanooga area currently total over 260.   CRYE-LEIKE OF EAST TENNESSEE, INC. (JOHNSON CITY) Crye-Leike established its first East Tennessee office in Johnson City, Tenn. in January 2000. "This location continues to show a strong percentage of growth in sales," said Crye. Year-end sales volume in 2001 totaled $23.17 million, up 55 percent, and property sales totaled 179, a 29 percent increase from the sales reported through 2000. Sales volume in the fourth quarter of 2001 totaled $ 6.20 million, up 77 percent, and property sales totaled 49, up 69 percent from same-quarter results a year earlier. Crye-Leike of East Tennessee, Inc. has three branch and franchise offices in East Tennessee in Washington, Hamblen and Roane counties. Its 20 sales associates market residential, commercial and investment property sales in Washington, Sullivan, Carter and Unicoi counties, with its franchise office serving Roane, Rhea, Loudon, Knox and Anderson counties.   CRYE-LEIKE, INC. (MEMPHIS) Crye-Leike sales in the Greater Memphis area represent 49 percent of the company's total sales volume. Crye-Leike defines its Greater Memphis market area by including its branch offices in West Memphis, Ark. as well as offices in Olive Branch, Hernando and Southaven, Miss. The company reported year-end sales volume for Crye-Leike, Inc. in the Greater Memphis area to be $1.48 billion in 2001 with year-end closings at 9,904. Fourth-quarter sales in 2001 closed at $326.10 million, representing 2,290 in property sales. The local sales volume in December 2001 was $114.46 million, which represents 810 closings. Crye-Leike, Inc. in Memphis has a sales force of over 1,100 sales associates who are located in 22 branch and franchise offices in eight counties throughout a three-state Mid-South region: ARKANSAS - Crittendon, Craighead and Mississippi counties; MISSISSIPPI - DeSoto, Lafayette, Lee and Union counties; and TENNESSEE: Hardin and Shelby counties. Its branch and franchise offices are conveniently located in: TENNESSEE - Arlington, Bartlett, Collierville, Cordova, Germantown, Memphis, Millington and Pickwick Dam; ARKANSAS - Blytheville, Jonesboro and West Memphis; and MISSISSIPPI - Hernando, New Albany, Olive Branch, Southaven and Tupelo.   CRYE-LEIKE OF NASHVILLE, INC. Crye-Leike sales in the Greater Nashville area represent 34 percent of the company's total sales volume. Crye-Leike of Nashville, Inc. started operations in the Nashville metropolitan area in 1992. Crye-Leike of Nashville, Inc. showed a percentage of growth in 2001 fourth quarter sales, up 3.2 percent in the fourth quarter from a year earlier. Sales volume in the fourth quarter totaled $243.78 million, up 3.2 percent and property sales totaled 1,718, up 5.2 percent from same-quarter results a year earlier. Year-end sales volume in 2001 for Crye-Leike of Nashville, Inc. was $1.08 billion, 1 percent less from $1.09 billion through 2000. These figures represent 7,462 in property sales, with no significant change over comparable year-end results in 2000 at 7,489. The month of December showed a local sales volume of $71.47 million, up 5.6 percent from last December, representing 534 units closed, a 12 percent increase from the same period in 2000. The company attributes its steady growth to its aggressive expanded presence in the Greater Nashville market. In the past two years, Crye-Leike of Nashville has added or expanded five branch offices, growing to a total of 20 branch offices in eight counties with over 800 sales associates. Those newest Crye-Leike offices that were expanded or added within the Greater Nashville area are located in Bellevue, Columbia, Clarksville, Franklin - Cool Springs and Gallatin. Crye-Leike of Nashville, Inc. has 21 branch and franchise offices in nine counties in Middle Tennessee: Davidson, Grundy, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson counties. ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation's 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 55 branch and franchise offices located in 25 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia. As a full service real estate company, Crye-Leike offers real estate and related services, including: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; home improvement services; auction services; apartment locator services; franchise sales and builder resource services. As a member of the RELO International Relocation Network, its Relocation Services Division assists families, individuals and corporate groups relocating to virtually any community in the United States or abroad with comprehensive services.  

As the largest real estate company in Tennessee and the Mid-South reaches its 25-year milestone in 2002, Crye-Leike Chief Executive Officer Harold E. Crye reports that Crye-Leike is a strong, viable company that will continue to grow. Preliminary fourth quarter sales figures indicate that Crye-Leike will reach record sales of nearly $3 billion for a third year in a row, ranking the Memphis-based company as 13th among the country's largest residential real estate brokers and eighth among independent firms. Crye-Leike officials will make this announcement to its 2,200 sales associates at the company's 25th annual meetings held January 2002 in its Memphis, Nashville and Chattanooga regions. The meetings provide an opportunity for its leaders to reflect on the company's sales performance, growth and achievements over the past year and since its founding in 1977 as well as present company awards of recognition. "The repercussions from the September 11 attack did generate a cause for concern in sales dropping during the fourth quarter," said co-founder and partner Dick Leike. "We all have compassion for those affected by the terrorists, but this is America. We are going to keep on rolling, keep on going." "Real estate analysts say that when sales decline, leading real estate firms tend to grow their share of the business," said Crye. "With unemployment rising and housing sales likely to decline somewhat, the next 12 months will offer the best opportunity for market share growth that has been seen in past years. Crye-Leike will continue to grow with a focus on customer service." Other milestones Crye-Leike has achieved over its 25-year history include expansion into new markets, broadening of its customer services and the introduction of franchising. - One Stop Shopping. One stop shopping is a service concept that has helped Crye-Leike become one of the nation's fastest-growing real estate companies. As a full service real estate company, Crye-Leike offers: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; home improvement services; custom contracting services; auction services; apartment locator services; franchise sales; premier properties services and builder resource services. - Market Expansion. Partners Crye and Leike chose to expand into new markets rather than continue to pursue a bigger share of the hometown business. Crye-Leike started expanding operations in 1992 with an office in Nashville that has now grown to 21 branch and franchise offices and more than 800 agents in Middle Tennessee. It moved into Chattanooga in 1997; into Jonesboro, Arkansas in 1999; into Johnson City and North Georgia in 2000. - Franchising. Crye-Leike established a real estate franchiser subsidiary, Crye*Leike Franchises Inc. (franchises.crye-leike.com), to focus its marketing efforts on establishing franchises in smaller populated areas where it would not normally open a company office because of market size and location. Eight franchises are currently located in Arkansas, Kentucky, Mississippi and Tennessee with future plans to expand into contiguous states. Crye-Leike (www.crye-leike.com), a full service real estate company for 25 years, is the nation's 13th largest real estate company and the largest serving Tennessee and the Mid-South. It has a network of over 2,200 sales associates and 55 branch and franchise offices located in 25 counties throughout a five-state Mid-South region in Tennessee, Arkansas, Kentucky, Mississippi and Georgia. Crye-Leike attained sales of $2.9 billion and 20,406 closed transaction sides corporate wide in 2000.

Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, disclosed its third quarter sales which reflect sales activity in its 54 branch and franchise offices, located in 24 counties throughout a four-state Mid-South region in Tennessee, Arkansas, Mississippi and North Georgia. Tennessee-based Crye-Leike, the nation's 13th largest real estate company, reported $824.37 million in sales during the third quarter, an increase of 2.90 percent over $801.14 million this same period last year. This volume was generated on the sale of 5,703 properties handled by Crye-Leike's 2,200 sales associates. Year-to-date sales volume for Crye-Leike company wide remained relatively unchanged at $2.28 billion, up 1 percent from $2.26 billion through September 2000. Year-to-date closings were 15,917, a mere .04 percent increase from the 15,910 closings reported through September 2000. For the month of September 2001, Crye-Leike reports $225.97 million in sales, down 5.73 percent from $239.70 million last year. These figures represent 1,611 units sold in September, a 5.79 percent decrease from 1,710 closings reported for the same period last year. Average residential sales prices in September for Crye-Leike's major metro areas compared to September 2000 were: $128,728 in Chattanooga, up 15.47 percent from $111,497; $148,165 in Memphis, down .004 percent from $148,740; $136,988 in Nashville, down 1.23 percent from $138,690; and $101,486 in Jonesboro, Ark., up 17.22 from $86,576. Crye-Leike's disclosed sales figures include new and existing family homes, condos and duplexes as well as commercial properties. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. "With the best interest rates in 25 years between 6.5 and 7 percent, Crye-Leike's sales activity remained strong in the second and third quarters," said Harold E. Crye, chief executive officer, "However, we expect some slowdown for the remainder of the year in the wake of the September 11 attacks. Assuming there are no more major surprises, we look forward to improvements around the second quarter of 2002 as the economy recovers and the federal government 's economic stimulus package contributes to consumer confidence." "Crye-Leike's internal tracking showed a brief slowing of sales activity following the attack on America," Crye continued. "For consumers, pulling back from purchasing big-ticket items in the months ahead is natural given the uncertainty over the future. Yet, the population needs to focus on normalcy and leave everything else up to the government and industry. If we stay dysfunctional, the terrorists win."   CRYE-LEIKE INC. (MEMPHIS) Crye-Leike reports local sales volume in the Greater Memphis area market to be $422.06 million in the third quarter this year, up 3.1 percent from $409.60 million last year. Crye-Leike's report covers the Greater Memphis area, including West Memphis, Ark., and Olive Branch and Southaven, Miss. Third-quarter unit sales totaled 2,784, up 3.4 percent from same-quarter results a year earlier. "Despite the market slow down, the availability and affordability of housing in the Memphis market continues to be a major draw for new industry and companies to the area," said Dick Leike, vice president and co-owner of Crye-Leike. "The Memphis economy is generally known as a place where you could get more 'bang for the buck' in housing. The median price for our region is well below the national median price which tells us that homebuyers can get more for their money in our housing market." The National Association of Realtors' 2001 Housing Forecast predicts the median sales price of existing single-family homes for the Memphis Metropolitan Statistical Area (MSA), including Arkansas and Mississippi, to be $123,600, a 7.4 percent increase from $115,100 in 2000. NAR predicts the national median price in 2001 to be $147,100, a 5.8 percentage change from the actual national median price of $139,000 in 2000. Year-to-date sales volume for Crye-Leike in the Greater Memphis area was $1.15 billion, down 1.8 percent from $1.17 billion through September 2000. Year-to-date closings were 7,614, which is a 3.7 percent decrease from the 7,909 closings reported through September 2000. September sales of $117.16 million represent a 7 percent decrease from $126.10 million over comparable monthly results last year. There were 793 real estate closings in September, a 4.2 percent decrease from 828 closings reported for the same period last year.   CRYE-LEIKE OF ARKANSAS INC. (JONESBORO) Crye-Leike established its Jonesboro, Ark. branch office in December 1999. Sales volume in the third quarter of 2001 totaled $13.98 million, up 42.2 percent from last quarter, and property sales totaled 149, up 15.5 percent from the third quarter of 2000. Year-to-date sales volume totaled $38.05 million, representing 412 units sold and a 39 percent increase from the sales reported through 2000. The month of September showed a local sales volume of $4.47 million, representing 44 units sold, a 14.6 percent increase from the same period last year. CRYE-LEIKE OF NASHVILLE INC.   In the Nashville metro area, where the company started operations in 1992, Crye-Leike's third-quarter sales were $291.92 million, representing a 3.3 percent decrease from same-quarter results a year earlier. Its 2,021 real estate property sales in the third quarter this year represent a 2.7 percent decrease over comparable quarter results last year. Year-to-date sales volume for Crye-Leike of Nashville was $834.64 million, down 2.2 percent from $853.40 million through 2000. These figures represent 5,744 in property sales, a 1.9 percent decrease over comparable year-to-date results last year. The local sales volume in September this year was $77.56 million, down 7.8 percent from last September, which represents 566 closings, a 6.7 percent decrease from last year. "Crye-Leike's appointment center, which averages over 10,000 calls a month company wide, is a good barometer of the shopping activity of prospective homebuyers," said Tom Kimbrough, vice president and general manager of Crye-Leike of Nashville Inc. "Since the terrorist attacks, Crye-Leike's appointment center has experienced approximately a 20 percent decline in the number of calls received over the last month. However, residential showings are beginning to resume normal activity with the Federal Reserve's positive stimulus of lowering interest rates that has been especially helpful to first-time homebuyers," said Kimbrough.   CRYE-LEIKE OF CHATTANOOGA INC.   In Chattanooga, Crye-Leike continues to show a strong percentage of growth in quarterly sales since its offices were established in 1998, up 21.32 percent in the third quarter from a year earlier. The company attributes its steady growth to its aggressive expanded presence and menu of services in the market. "In the past three years, Crye-Leike of Chattanooga has grown from four branch offices to eight in the Greater Chattanooga area and from 95 to 255 sales associates," said Jack Webb, vice president and general manager of Crye-Leike of Chattanooga Inc. " Crye-Leike is the only full service real estate company in Metro Chattanooga with all its offices open seven days a week," said Webb. "To capture every potential showing, our fully automated and staffed appointment center receives sales call from any real estate agent in the area who wants to show a Crye-Leike property and coordinates those showings from 8 a.m. until 8 p.m. each day of the week. " Sales volume in the third quarter totaled $90.56 million and property sales totaled 711, up 21.3 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $245.04 million, up 23.76 percent, and property sales totaled 2,017, an 18.9 percent increase from the sales reported through 2000. The month of September showed a local sales volume of $24.47 million, up 3.6 percent from last September, representing 194 units closed.   CRYE-LEIKE OF EAST TENNESSEE INC. (JOHNSON CITY) Crye-Leike of East Tennessee in Johnson City reports sales volume in the third quarter of 2001 totaled $5.84 million, up 12.3 percent from last quarter, with property sales totaling 38. Year-to-date sales volume totaled $ 16.98 million, representing 130 units sold. The local sales volume in September this year was $2.3 million, with 14 units sold, up 21.5 percent from a year prior. Crye-Leike CEO Harold Crye cites a 77 percent increase of sales volume in the area since the office's opening in January 2000. Recently, the local office was expanded to 6,500 square feet to accommodate continuing growth in the area.   ABOUT CRYE-LEIKE. Crye-Leike (www.crye-leike.com), a privately held company, is a full service real estate company with over 2,200 sales associates, 600 support staff and 54 branch and franchise offices, located in 24 counties throughout a four-state Mid-South region in Tennessee, Arkansas, Mississippi and North Georgia. Crye-Leike ranks No. 13 among the nation's top 500 largest residential real estate brokerage firms and No. 8 among the nation's 136 largest privately owned and independent firms, according to REAL Trends, Inc., the leading provider of information and analysis for the real estate industry and based on attaining sales of $2.9 billion and 20,564 closed transaction sides corporate wide in 2000. For real estate information on residential and commercial property listings available for sale in Tennessee, Georgia, Mississippi or Arkansas by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Memphis, Tenn. - Crye-Leike, the largest real estate company in Tennessee and the Mid-South, was recently ranked No. 13 in the nation among the 500 largest residential real estate brokerage firms and No. 8 in the nation among the 136 largest privately owned and independent real estate companies, according to REAL Trends Inc., the leading provider of information and analysis for the residential real estate industry. These rankings were based on Crye-Leike achieving 20,406 closed transaction sides among its 52 branch offices in 2000. Crye-Leike ranks No. 24 in closed sales volume at $2.9 billion when REAL Trends re-ranked the same top 500 real estate companies. REAL Trends Inc. annually conducts this nationwide study, entitled the 2001 REAL Trends 500 Report, which is a compilation of leading residential real estate firms ranked by closed transactions and sales volume. Documented by outside accounting firms, the survey represents the most comprehensive collection of data assembled on leaders in the residential brokerage industry regardless of affiliation or ownership. "The list is dominated by firms affiliated with national franchises, " said Steve Murray, co-editor of Denver, Colo.-based REAL Trends. "Franchised firms represented 70 percent of those listed in the 2001 REAL Trends 500 Report while 30 percent were independent firms." Only two other real estate firms in Tennessee qualified as privately owned and independent within the 2001 REAL Trends 500 Report. Bob Parks Realty of Murfreesboro ranked No. 45 in the nation, with 5,145 closed transaction sides and 12 offices. Shirley Zeitlin & Co., REALTORS? of Nashville was No. 134 with 1,194 closed transaction sides and three offices. According to the report, the 500 largest residential real estate brokerage firms collectively powered among their 549 offices nationwide nearly 2.6 million in residential sales transactions, valued at nearly $530 billion during 2000. Chief Executive Officer Harold E. Crye of Crye-Leike credits the company's No. 13 national ranking to several factors even amid an unpredictable marketplace, technological changes and a rapidly evolving consumer base. "Technology investments, aggressive agent training and education programs, extending our geographic reach and depth of talent and an increased focus on expanding our range of home services all have led our firm to the top," said Crye. "We have embraced the Internet as a vehicle to improve our core capabilities and pursue new business opportunities related to real estate services," said Crye. "We have spent time, money and resources into investing in the latest technology to serve our clients and sales associates. "We further have entered new markets in Arkansas, East Tennessee and North Georgia, added offices in the Greater Nashville area as well expanded our presence through franchising within outlying areas in Tennessee and contiguous states." NRT, Inc. led the 2001 REAL Trends 500 Report as the largest residential brokerage company in the country, establishing a real estate industry record with an aggregate closed sales volume of $105 billion. The Parsippany, N.J.- based company acquires premier residential real estate brokerage firms and operates them as franchised brokerages under the Century 21, Coldwell Banker and ERA brand names. NRT is comprised of more than 32,000 sales associates working out of nearly 700 offices and operating companies in 22 of the nation's largest metropolitan real estate markets. Other Tennessee real estate firms that ranked in the top 500, along with Crye-Leike included: Bob Parks Realty of Murfreesboro (No. 92); Realty Executives Associates of Knoxville (No. 109); RE/MAX Elite of Brentwood (No. 138); RE/MAX Preferred Properties Inc. of Knoxville (No. 169); Coldwell Banker Barnes /Snow & Wall of Brentwood (No. 185); Realty Center/ Better Homes & Gardens of Chattanooga (No. 272); Prudential Professionals Realty of Clarksville (No. 358); Coldwell Banker Lakeside, REATLORS? of Hendersonville (No. 441) and Shirley Zeitlin & Co., REALTORS? of Nashville (No. 462). See Exhibit I for detailed rankings. About Crye-Leike. Crye-Leike (www.crye-leike.com), a full service real estate company, has over 2,100 sales associates and over 52 branch offices, including seven franchises, located in 24 counties throughout a four-state Mid-South region in Tennessee, Arkansas, Mississippi and North Georgia. Crye-Leike offers real estate and related services including: relocation services; commercial business and investment real estate services; property leasing and management services; development and construction services; mortgage lending facilities; insurance services; title services; home services; home improvement services; auction services; apartment locator services; franchise sales; premier properties services and builder resource services.   EXHIBIT I Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 2000 as released by REAL Trends Inc. in its 2001 REAL Trends 500 Report:   Company, Rank Closed by Sales Volume, Rank Closed by Transaction Sides 2000 Sides & Sales Volume and Headquarters   Crye-Leike, 24, 13 20,406 sides; $2.9 billion in sales (Memphis, Nashville, Chattanooga)   Bob Parks Realty 124, 92 5,145 sides; $766 million in sales (Murfreesboro)   Realty Executives Associates 146, 109 4,582 sides; $670 million in sales (Knoxville)   RE/MAX Elite 181, 138 3,687 sides; $545 million (Brentwood)   RE/MAX Preferred Properties Inc. 329, 169 (Knoxville)3,235 sides; $279 million   Coldwell Banker Barnes/Snow & Wall 233, 185 (Brentwood) 2,986 sides; $419 million in sales   Realty Center/Better Homes & Gardens 300, 272 2,142 sides; $311 million in sales (Chattanooga)   Prudential Professionals Realty 485, 358 1,564 sides; $161 million in sales (Clarksville)   Coldwell Banker Lakeside REALTORS 460, 441 1,275 sides; $175 million in sales (Hendersonville)   Shirley Zeitlin & CO. REALTORS 296, 462 1,194 sides; $318 million in sales (Nashville)  

Brentwood, Tenn. - Despite the real estate market in Tennessee being slightly down, Crye-Leike, the largest real estate company in Tennessee and the Midsouth, reports $2.93 billion in sales volume for 2000 as its second best year in the 24-year-history of the company, announced Harold E. Crye, chief executive officer of Crye-Leike. Crye-Leike's 2,200 sales associates in a four-state Mid-South region handled 20,564 closings in 2000, a 4.52 percent decrease from the 21,537 closings reported through December 1999. Crye-Leike's sales figures include new and existing family homes, condos and duplexes as well as commercial properties. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller.   CRYE-LEIKE INC. (MEMPHIS) Company sales in Memphis depict a slightly different view of the real estate market compared to Crye-Leike's sales in Nashville and Chattanooga because of the company's established beginnings in Memphis since 1977, notes co-owner and president Dick Leike. "Crye-Leike has a stronger market share in Memphis which more accurately reflects the ups and downs of the real estate market in Tennessee," said Leike. "Despite the market slow down, the affordability of housing in Memphis continues to lure companies to the area. The median price for our region is well below the national median price which tells us that homebuyers can get more for their money in our housing market." Crye-Leike Inc. reports local sales volume in the Greater Memphis area market to be $ 359 million for the fourth quarter in 2000, down 4.83 percent from $377 million in the fourth quarter of 1999. Leike attributes the slight down turn in fourth quarter sales to the severe ice and snow storms that hit Memphis mid-December, slowing down potential homebuyers. Crye-Leike's report defines the Greater Memphis area as including its offices in West Memphis, Ark., Olive Branch, Miss., Southaven, Miss. and its newest location in Hernando, Miss. Fourth-quarter unit sales for 2000 totaled 2,360, down 11.76 percent from same-quarter results on 1999. Year-end sales volume for Crye-Leike in the Greater Memphis area was $1.5 billion in 2000, down 9.53 percent from $1.69 billion a year prior. Year-end closings in 2000 were 10,268, which is a 13.29 percent decrease from the 11,843 closings as reported in the prior year.   CRYE-LEIKE OF CHATTANOOGA, INC. Crye-Leike of Chattanooga, Inc. continues to show a strong percentage of growth in quarterly sales since its offices were established in December 1997, up 18 percent in the fourth quarter from a year earlier. In Chattanooga, Crye-Leike has increased its market share in the three years it has had a presence there. Sales volume in the fourth quarter totaled $60.58 million, up 18.1 percent, and property sales totaled 542, up 28.7 percent from same-quarter results a year earlier. Year-end sales volume totaled $255 million, up 20.6 percent , and property sales totaled 2,210, a 28.6 percent increase from the sales reported through 1999. The company attributes its steady growth to its aggressive expanded presence in the Chattanooga market. "In the past three years, Crye-Leike of Chattanooga has grown from four branch offices to eight branches in the Greater Chattanooga area and from 95 to 235 sales associates," said Jack Webb, vice president and general manager of Crye-Leike of Chattanooga Inc. The company's two newest branch offices include one in Cleveland, Tenn. and the other in Fort Oglethorpe, Ga., Crye-Leike's first branch office in the state of Georgia.   CRYE-LEIKE OF NASHVILLE INC. In the Nashville metropolitan area, where the company started operations in 1992, Crye-Leike's fourth-quarter sales in 2000 reflect the equalizing of a June 1999 real estate firm merger, notes Tom Kimbrough, vice president and general manager of Crye-Leike of Nashville Inc. Fourth-quarter sales of $236.30 million in the Nashville area in 2000 represent a 15.7 percent decrease over same-quarter results a year prior. Its 1,633 real estate property sales in the fourth quarter of 2000 represent a 15.8 percent decrease over comparable quarterly results a year prior. Year-end sales volume in 2000 for Crye-Leike of Nashville was $1.08 billion, down 2.7 percent from $1.12 billion through 1999. These figures represent 7,491 in property sales, a 5.52 percent decrease over comparable year-end results in 1999. "In addition to outside factors affecting the Tennessee market, the balancing of the Crye-Leike and Folk-Jordan merger in June 1999 has had an impact on the reported company sales in 2000," said Kimbrough. "We continue to be excited and enthused with the caliber of sales associates and staff resulting from the merger with Folk-Jordan which paves the way for a strong 2001 forecast."   CRYE-LEIKE OF ARKANSAS INC. (JONESBORO) Crye-Leike established its Jonesboro, Ark. branch office in December 1999. In one year's time, this office has established a significant market share in that city, reporting a year-end sales volume of $36 million with a sales force of 25 sales associates. Year-end closings were 454.   CRYE-LEIKE OF EAST TENNESSEE INC. (JOHNSON CITY) Crye-Leike established its first East Tennessee office in Johnson City, Tenn. in January 2000. Year-end sales volume totaled $15.3 million, representing 141 units sold by its 13 sales associates. "Our branch office's good year-end sales figures are a tribute to the communities' acceptance of our newly-established office and the real estate services we are providing Johnson City, and we are most appreciative," said Nancy Rowe, manager of Crye-Leike, Realtors in Johnson City. "As our office grows, we expect the numbers to grow rapidly.   ABOUT CRYE-LEIKE Crye-Leike (www.crye-leike.com), the largest real estate company in Tennessee and the Midsouth, is ranked No. 10 in the nation, by REAL Trends Magazine, with nearly $3 billion in sales in 2000. It has over 2,100 sales associates who operate in 45 branch offices located in 17 counties throughout a four-state Midsouth region: Tennessee (Chattanooga, Johnson City, Memphis, Nashville), Arkansas (Jonesboro, West Memphis), Mississippi (Hernando, Olive Branch, Southaven) and Georgia (Fort Oglethorpe). Crye-Leike also has seven franchise offices in New Albany, Oxford and Tupelo, Miss., Blytheville, Ark., and Kingston, Monteagle and Pickwick Dam, Tenn. Crye-Leike, Realtors was established in 1977 in Memphis by Harold Crye and Dick Leike. Operations were expanded in 1992 into the Middle Tennessee real estate market (Nashville); in 1997 into the Chattanooga market; in 1999 into East Tennessee (Johnson City), and in 2000 into its first Georgia office established in Fort Oglethorpe, along with its third branch office in Mississippi. "Crye-Leike is still experiencing growth years even though the economy experienced high interest rates last year and people have concerns about the security of employment," said Crye. "These issues are still prevailing and could have the same effect on the economy this year." For real estate information on residential and commercial property listings available for sale in Tennessee, Georgia, Mississippi or Arkansas by city or county, visit Crye-Leike's Web site at www.crye-leike.com.    

Even though the real estate market seems to be flat because of escalating mortgage interest rates, a second quarter report from the largest real estate firm in Tennessee appears to be unaffected. Memphis-based Crye-Leike, Realtors, the nation's tenth largest real estate firm, reported $826.63 million in sales during the second quarter, an increase of 3.8 percent over $796.65 million this same period last year. That volume increase was generated on the sale of 5,738 properties handled by Crye-Leike's 2,200 sales associates in six regional areas of the Midsouth. Year-to-date sales volume companywide for Crye-Leike was $1.46 billion, up 8.6 percent from $1.34 billion through June 1999. Year-to-date closings were 10,357, a 4.7 percent increase from the 9,893 closings reported through June 1999. For the month of June, Crye-Leike reports $303.35 million in sales, down marginally at 1 percent from $306.38 million last year. These figures represent 2,072 units sold in June, a 1.1 percent decrease from 2,095 closings reported for the same period last year. Average residential sales prices in June for Crye-Leike's major metro areas compared to June 1999 were: $124,326 in Chattanooga, down from $136,418; $148,051 in Memphis, down from $154,105; and $146, 938 in Nashville, up from $132,855. Crye-Leike's disclosed sales figures include new and existing family homes, condos and duplexes as well as commercial properties. Sales figures also represent the sales volume of both listing and selling sides of a real estate transaction, which involve a buyer and a seller. Harold Crye, chief executive officer of Crye-Leike, notes that the solid pace of company sales shows that homebuyers are largely undeterred by the fact that mortgage rates are up from last year. "In today's market, buyers don't get spooked by higher rates. They have many options when it comes to home financing," said Crye. From a company perspective, Crye sees Crye-Leike not being as "flat" as the current real estate market. "Crye-Leike is running ahead of the market because we have more agents, a diversity of services to meet homebuyers' and home sellers' needs, and a broad base of branch offices throughout the Midsouth." Crye-Leike of Nashville Inc. and Crye-Leike of Chattanooga Inc. continue to share a strong percentage of growth in quarterly sales, both up 21 percent in the second quarter from a year earlier. CRYE-LEIKE OF NASHVILLE INC.   In the Nashville metro area, where the company started operations in 1992, Crye-Leike's second-quarter sales showed continued robust activity. Second-quarter sales of $311.88 million in the Nashville area represent a 21.8 percent increase. Its 2,096 real estate property sales in the second quarter this year represent a 5.4 percent increase over comparable quarter results last year. Year-to-date sales volume for Crye-Leike of Nashville was $551.63 million, up 30.2 percent from $423.63 million halfway through 1999. These figures represent 3,780 in property sales, a 15.2 percent increase over comparable year-to-date results last year. The local sales volume in June this year was $109.89 million, up 13.9 percent from last June, which represents 746 closings, a 2.8 percent increase from last year. Crye anticipates a leveling off of sales in the Nashville metro area next quarter. "The initial effects of the Folk-Jordan merger are showing signs of wearing off," said Crye. The company acquired Folk-Jordan Better Homes & Gardens' operations in June 1999.   CRYE-LEIKE OF CHATTANOOGA INC.   In Chattanooga, Crye-Leike has increased its market share in the two years it has had a presence there. Sales volume in the second quarter totaled $73.17 million, up 21 percent, and property sales totaled 625, up 30.5 percent from same-quarter results a year earlier. Year-to-date sales volume totaled $123.36 million, up 29.1 percent, and property sales totaled 1,092, a 37.2 percent increase from the sales reported halfway through 1999. The month of June showed a local sales volume of $31.07 million, up 17.2 percent from last June, representing 250 units closed, a 42 percent increase from the same period last year.   CRYE-LEIKE INC. (MEMPHIS)   Company sales in Memphis depict a slightly different view of the real estate market compared to Crye-Leike's sales in Nashville and Chattanooga because of the company's established beginnings since 1977, notes co-owner Dick Leike. "Crye-Leike has a stronger market share in Memphis which more accurately reflects the ups and downs of the real estate market in Tennessee," said Leike. "Memphis' sales may be slightly off from last quarter, but companywide, we haven't seen demand taper off. People are still house hunting, figuring what they can afford and moving ahead with their housing purchases." Why asks Leike, "Because homeownership is a stable and safe long-term investment for consumers." Crye-Leike reports local sales volume in the Greater Memphis area market to be $425.19 million in the second quarter this year, down 11.5 percent from $480.23 million last year. Crye-Leike's report has the Greater Memphis area including West Memphis, Ark., and Olive Branch and Southaven, Miss. Second -quarter unit sales totaled 2,843, down 15.8 percent from same-quarter results a year earlier. Year-to-date sales volume for Crye-Leike in the Greater Memphis area was $762.24 million, down 7.7 percent from $825.69 million through June 1999. Year-to-date closings were 5,217, which is a 10.3 decrease from the 5,817 closings reported through June 1999. June sales of $156.18 million represent a 14.9 percent decrease from $183.42 million over comparable monthly results last year. There were 1,021 real estate closings in June, a 14.4 percent decrease from 1,193 closings reported for the same period last year.   CRYE-LEIKE OF ARKANSAS INC. (JONESBORO) Crye-Leike established its Jonesboro, Ark. branch office in December 1999, significantly increasing its market share over its first six months of operation. Sale volume in the second quarter of 2000 totaled $11.81 million, up 106.1 percent, and property sales totaled 131, up 65.8 percent from same-quarter results three months prior. Year-to-date sales volume totaled $17.54 million, representing 210 units sold. The month of June this year showed a local sales volume of $4.64 million, representing 42 units sold.   CRYE-LEIKE OF EAST TENNESSEE INC. (JOHNSON CITY) Crye-Leike established its first East Tennessee office in Johnson City, Tenn. in January 2000. Year-to-date sales volume totaled $6.29 million, representing 58 units sold. The local sales volume in June this year was $1.56 million, with 13 units sold. ABOUT CRYE-LEIKE Crye-Leike (www.crye-leike.com) , the largest real estate firm in Tennessee and the Midsouth, has over 2,200 sales associates who operate in 46 branch offices, located in 19 counties and four regional areas in Tennessee, Chattanooga, Johnson City, Memphis and Nashville, as well as in the states of Arkansas and Mississippi. Crye-Leike also has three franchise offices in Oxford and Tupelo, Miss. and Monteagle, Tenn. As a privately held company with over 480 employees, it attained record sales of $3.3 billion corporatewide in 1999, the best year reported in company history. Nationally, Crye-Leike is ranked No. 10 among the nation's top 500 residential real estate brokerage firms and No. 3 among the nation's largest 161 privately owned independent real estate companies, as reported in May 2000 by REAL Trends Magazine. Crye-Leike, Realtors was established in 1977 in Memphis by Harold Crye and Dick Leike. Operations were expanded in 1992 into the Middle Tennessee real estate market , in 1997 into the Chattanooga market and in 1999 into East Tennessee. For real estate information on residential and commercial property listings available for sale in Tennessee, Mississippi or Arkansas by city or county, visit Crye-Leike's Web site at www.crye-leike.com.  

Tennessee's own Crye-Leike Inc. was recently ranked among the nation's top 10 residential real estate brokerage firms, according to REAL Trends Magazine, a publication for residential real estate industry executives. Its nationwide study, entitled the REAL Trends 500 Report, surveys the 500 largest residential real estate firms in the United States and ranks them by closed transaction sides and closed sales volume. The survey, which includes all firms regardless of affiliation or ownership, represents the most comprehensive collection of data assembled on leaders in the residential brokerage industry. Crye-Leike, Inc. ranked No. 10 in the nation, a three-notch move upward from last year's No. 13 ranking, closing 23,231 transaction sides in 1999 with 46 offices. As a privately owned and independent real estate firm, Crye-Leike also ranked No. 3 in the nation among the 161 largest privately owned independent real estate companies. "The list is dominated by firms affiliated with national franchises, " said co-editor Steve Murray of REAL Trends. "Franchised firms represented 70 percent of those listed in the REAL Trends 500 Report while 30 percent were independent firms." Only two other privately owned independents in Tennessee qualified for inclusion in the Real Trends 500 Report. Bob Parks Realty of Murfreesboro ranked No. 52 in the nation, with 4,397 closed transaction sides and 10 offices. Shirley Zeitlin & Co., REALTORS? of Nashville was No. 142 with 1,158 closed transaction sides and two offices. Crye-Leike, Inc. ranks No. 16 in closed sales volume at $3.3 billion when REAL Trends re-ranked the same top 500 real estate companies. This ranking represents a 36 percent increase over its 1998's sales volume of $2.4 million, placing Crye-Leike, Inc. fifth in the nation in terms of percentage of growth. There are several factors that chief executive officer Harold Crye of Crye-Leike, Inc. feels have attributed to the company's move up in its national ranking. "We have embraced the changing technology of real estate and continue to ride the wave of innovative marketing techniques. This has certainly sharpened our name recognition factor," said Crye. "Crye-Leike has evolved into a full service real estate company, offering a variety of ancillary services that support the home buying or selling process," said Crye. "We also spend time, money and effort into investing in the latest technology to serve our clients and sales associates which has led to the company's increased activity and production in existing offices." Crye notes several of the company's state-of-the-art marketing features for the sophisticated buyer, such as online virtual tours and automated attendants called "SmartLine" which allows buyers to access information on a property immediately by dialing a phone number listed on the for sale sign. Its computerized appointment center networks all listing appointments within Crye-Leike and is open 12 hours per day, seven days a week from 8 a.m. to 8 p.m. Its in-house training program for sales associates provides instruction on basic computer skills and applications that are utilized within the real estate industry, such as the Multiple Listing Service. Other factors that have attributed to Crye-Leike's steady growth, notes Crye, is the company's entry into new markets in Arkansas, East Tennessee and North Georgia as well as acquisitions of existing firms, like Folk-Jordan, Inc. Better Homes & Gardens of Nashville and the newest, White Realty Company in Jonesboro, Ark. NRT, Inc. led the REAL Trends 500 Report as the largest residential brokerage company in the country. The firm, which owns 730 residential real estate offices across the United States, closed 362,368 transactions in 1999 with a sales volume of $94 billion. Established in August 1997 as a joint venture between HFS Inc. (now Cendant) and Apollo Management LP, NRT acquires residential real estate brokerage firms and operates them as franchised brokerages of Century 21 Real Estate Corporation, Coldwell Banker Real Estate Corporation and ERA Franchise Systems Inc. According to the report, the 500 largest residential real estate brokerage firms in the nation controlled nearly 2.5 million residential sales transactions with a value of nearly $476 billion during 1999. Numbers within the REAL Trends 500 Report were documented by outside accounting firms. Due to 40 ties, there are actually 540 companies listed in the top 500, says Murray. Other Tennessee real estate firms that ranked in the top 500, along with Crye-Leike, Inc., include: Bob Parks Realty of Murfreesboro (No. 105); Realty Executives Associates of Knoxville (No. 113); RE/MAX Elite of Brentwood (No. 137); Realty Center/ Better Homes & Gardens of Chattanooga (No. 242); RE/MAX Preferred Properties Inc. of Knoxville (No. 246); Coldwell Banker Wallace & Wallace of Knoxville (No. 251); Coldwell Banker Barnes /Snow & Wall of Brentwood (No. 260); Prudential Professionals Realty of Clarksville (No. 359); Coldwell Banker Conroy, Marable & Holleman of Clarksville (No. 388); Shirley Zeitlin & Co., REALTORS? of Nashville (No. 453); and Realty Executives Fine Homes of Nashville (No. 455). See Exhibit I for detailed rankings. Crye-Leike (www.crye-leike.com) has over 2,200 sales associates who operate in 46 branch offices, located in 16 counties and four regional areas of Tennessee, Chattanooga, Johnson City, Memphis and Nashville, along with select Crye-Leike offices in Arkansas, Mississippi and North Georgia.   EXHIBIT I Tennessee residential real estate brokerage firms that ranked in the top 500 nationwide in residential sales transactions in 1999 as released by REAL Trends newsletter in its REAL Trends 500 Report, May 2000 issue:   Company Name, Headquarters & 1999 Sales Volume Rank by Closed Sales Volume, Rank by Closed Transaction Sides   Crye-Leike Inc. $3.3 billion (Memphis, Nashville, Chattanooga) 16, 10   Bob Parks Realty $614 million (Murfreesboro) 137, 105     Realty Executives Associates $574 million (Knoxville) 149, 113     RE/MAX Elite $550 million (Brentwood) 159, 137     Coldwell Banker Wallace & Wallace $ 409 million (Knoxville) 226, 251     Realty Center/Better Homes & Gardens $305 million (Chattanooga) 292, 242     RE/MAX Preferred Properties Inc. $277 million (Knoxville) 317, 246     Coldwell Banker Barnes/Snow & Wall $259 million (Brentwood) 329, 260   Shirley Zeitlin & CO. REALTORS $254 million (Nashville) 338, 453     Prudential Professionals Realty $158 million (Clarksville) 467, 359     Realty Executives Fine Homes $186 million (Nashville) 422, 455   Coldwell Banker Conroy, Marable & Holleman $132 million (Clarksville) 506, 388    

Crye-Leike, the largest real estate firm in Tennessee, reported its highest first quarter sales in the company's 23-year history. The company's January through March sales of new and existing family homes, condos and duplexes as well as commercial properties were $634.34 million on 4,618 properties sold within its seven regional areas. These figures represent an increase of 15.70 percent over the first quarter of 1999. Crye-Leike has over 2,200 sales associates who operate in 46 branch offices, located in 16 counties, primarily in Tennessee, along with select Crye-Leike offices in Mississippi and Arkansas. As a privately held company, it attained record sales of $3 billion corporatewide in 1999, the best year reported in company history. Nationally, Crye-Leike is ranked No. 13 among the top real estate brokers in the United States as reported in 1999 by Real Trends Magazine. "Even though interest rates have increased slightly," said Harold Crye, CEO of Crye-Leike, "the real estate sales market is still vibrant and moving." Crye-Leike of Nashville, Inc. and Crye-Leike of Chattanooga, Inc. showed the strongest percentage of growth in their first quarter sales figures, 43 percent each in their respective metropolitan areas over first quarter 1999 sales. Crye-Leike of Nashville, Inc. recorded 1,676 units sold in its first quarter, representing a sales volume of $238.46 million. The average sale price of a single family home in the Middle Tennessee area was $142,280. Crye-Leike of Chattanooga, Inc. recorded 467 units sold in its first quarter, representing a sales volume of $50.19 million. The average sales price of a single family home in the Chattanooga metropolitan area was $107,489. Crye attributes the company's first quarter surge in sales growth in Nashville to the June 1999 merger with Folk-Jordan, Inc. in Nashville, adding a significant number of Realtors? to Crye-Leike's sales force. At that time, Fork-Jordan, Inc. was doing business as an independent affiliate broker of Better Homes & Gardens. "Additionally, our Chattanooga area offices have gained significant market share in the two years that we have been there," said Crye. Crye-Leike, Inc., of Memphis sold 2,374 units in the first quarter of 2000 with a sales volume of $337.05 million. The average sales price of a single family home in the Memphis metropolitan area was $141,976. Based on 1999 statistics extrapolated from area Multiple Listing Services (MLS), Crye-Leike ranks No. 1 in sales volumes for both the Memphis and Middle Tennessee metropolitan areas at $ 1.32 billion and $960.44 million, respectively. In the Chattanooga metropolitan area, Crye-Leike ranks No. 2 with a sales volume of $183.18 million. These MLS figures do not include sales from "for sale by owners", new construction, commercial, industrial and rural properties outside of this MLS system. Crye-Leike has had its beginnings in the Memphis area real estate market since 1977 and expanded in 1992 into the Middle Tennessee area. It entered Chattanooga's real estate market in December 1997. For real estate information and residential and commercial property listings available for sale in Tennessee by area, visit Crye-Leike's Web site at www.crye-leike.com.