Responseto re HIPs

Rightmove Plc 19 July 2006 19 July 2006 Rightmove response to yesterday's Government announcement regarding HIPs Rightmove notes yesterday's statement by Yvette Cooper, the Minister for Housing and Planning, regarding changes to the implementation of Home Information Packs (HIPs). The Minister's statement includes the announcement that the Home Condition Report within the HIP will be voluntary for the foreseeable future. Rightmove believes that it had put in place the systems, people and capabilities to be able to implement HIPs in line with the original timetable and specification. The implication is that the overall value of each HIP will be lower than previously expected. Accordingly, revenues and potential earnings from Rightmove's HIPs product are likely to be significantly lower than current market expectations. Future expenditure on the HIPs product will be reviewed in the light of the development of the HIPs market and the company's place within it. Rightmove reaffirms its trading statement as made on the 6 July 2006 which confirmed that revenue and profit before tax for the full year 2006 will exceed the range of analysts' estimates as at that date. In addition as a leading provider of technology delivered services to the real estate industry, Rightmove believes it is well placed to continue building its web based advertising business and develop additional services. Rightmove will update investors as appropriate, including indicating the impact of any further significant announcement by the government. ENDS Enquiries: Rightmove +44 (0)20 7379 5151 Ed Williams Graham Zacharias Maitland +44 (0)20 7379 5151 Neil Bennett Brian Hudspith Charlotte Barker This information is provided by RNS The company news service from the London Stock Exchange

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Rightmove (RMV)
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