Koodu's 'New Way to Sell' Estate Agency Service Cuts Property Sale Costs by 50%

Launch in Hammersmith & Fulham Before London-Wide Roll-Out and Across UK

LONDON, December 7 - Hard pressed participants in the recovering London property market
received a boost today with the launch of Koodu, a new estate agency service
that reduces costs on the sale of an average London property by 50%.

Koodu provides all professional services connected to a property sale via
a single point of contact, does not charge estate agency commission, has one
low cost flat fee for marketing, Home Information Pack (HIP) and solicitor
services (GBP2,999), and also provides state of the art 3D interactive
viewing via all major online property portals.

The company handles every aspect of a sale through to completion, with
all related information - sales particulars, HIP, offers and solicitors file
- accessible by vendors online via secure web pages at
www.koodu.co.uk

Duncan Samuel, Managing Director of Koodu, said:

"Koodu simplifies the sale process for vendors by uniting the providers
of professional services through a single point of contact, while cutting
average transaction costs in half. In essence we provide complete concierge
service for property sales, at a fraction of the cost you would currently
expect to pay."

    Costs comparison for a GBP325,000 property transaction
    Estate agent 1.5% + VAT    GBP5,606  Koodu      0% commission  Included
    HIP                        GBP300    HIP                       Included
    Solicitors   GBP700 + VAT  GBP805    Solicitors                Included
    TOTAL                      GBP6,711  TOTAL                     GBP2,999                                                                   (inc VAT)

Mr Samuel added that while Koodu's low cost flat fee provided substantial
transaction savings across the property spectrum, these were even more
pronounced for sellers of larger properties.

"For sellers of higher value properties - who are typically charged
commission by established estate agencies - the financial advantage of using
Koodu is very sizeable indeed."

Koodu has launched in Hammersmith & Fulham via a direct marketing
campaign of every household, before the service is rolled-out across London
and the UK in the New Year.

Karen Hicks, London Area Manager for Koodu, said that interest following
the launch had exceeded expectation and that feedback from clients already
using Koodu's 'new way to sell' was very positive.

"Our clients love being able to manage the whole sale process through a
single point of contact, from first marketing right the way through to
completion - while also saving thousands of pounds in professional services
costs."

Koodu builds on the expertise of Convex, an online conveyancing service
(www.convex.net) launched by Duncan Samuel in 2003 and the network of
professionals that have worked with it since then, among them Property Search
Group plc, one of the UK's largest HIP providers, and PropertyVision, a
cutting edge developer of estate agency marketing software.

Note To Editors

Koodu is a phonetic spelling of one of the largest members of the African
antelope family, the Kudu, which is reknowned for its resourcefulness and
often seen on strategic high ground surveying surrounding plains.

    Press enquiries:
    Alex Evans
    Uplands PR
    T: +44(0)7702-237736

Press enquiries: Alex Evans, Uplands PR, T: +44(0)7702-237736