Sacramento Year-Over-Year Home Prices Drops 18.6 Percent

NEW YORK, NY – February 1, 2008 – In what seems like a sea of bad news, three of the cities
tracked by the RPX prices show persistent strength, according to the RPX Monthly Housing
Market Report released today by Radar Logic Incorporated.

“As volume in RPX contracts continues to grow, we are seeing more investment and trading
strategies emerge within the 25 cities we currently publish,” said Michael Feder, Chief Executive
Officer of Radar Logic Incorporated. “The November monthly research report shows that RPX
offers investors the opportunity to successfully trade disparities in regional and local housing
markets.” The RPX Monthly Housing Market Report is published by the Radar Logic
Incorporated research department under the direction of Jonathan Miller, Executive Vice
President.

Key Characteristics for November 2007:

• For November 2007, of the 25 Metropolitan Statistical Areas (MSAs) examined, five
residential markets showed price increases and 20 markets showed price declines.
Milwaukee and New York remain strong with 5.6% and 5.0% annual appreciation, respectively.
Six markets (Miami, Los Angeles, Tampa, San Diego, Las Vegas, and Sacramento) show
double-digit losses and are at price levels not seen since the second quarter of 2005.

• The announcement of the government stimulus-package may impact housing prices; however regional differences are likely to appear. Specifically, the proposed plan (House version) would allow Freddie Mac and Fannie Mae to buy mortgages above the current limit of $417,000. Based on the amount of housing stock under the proposed and current limits,
mortgage data and median home prices suggest the stimulus could have the largest effect in
California markets.

• The New York MSA continues to appreciate. The effect is further amplified by the
composition shifting to favor Manhattan. The number of included transactions in the New
York MSA declined in recent months, while the number of transactions on the island of
Manhattan increased slightly. This “neighborhood” shift increases the weight of the higherpriced
Manhattan properties, shifting the index value higher. When considering only condos, the
median price per square foot increases 32.8% over the last year.

The complete November 2007 RPX Monthly Housing Market Report is available on Radar
Logic’s website at: www.radarlogic.com

Report Methodology

The RPX Monthly Housing Market Report is produced by Radar Logic Incorporated, a New
York-based real estate and data analytics company. These reports are published 63 days after
the last transaction date of every month, providing insight and detailed analysis of Radar Logic’s
25 Metropolitan Statistical Areas (MSAs) across the United States. This study is based on the
premise that there is not a national housing market; rather, each of the MSAs, while having
economic influences in common like credit and mortgage rates, is influenced primarily by local
conditions.

Data reflects the 28-day aggregated value of Radar Logic Daily™ Prices, which represent the
most timely and accurate surrogate available for a “spot market” for residential real estate. The
price per square foot metric used is a powerful tool for analyzing housing markets because it
significantly reduces the influence of property sizes on overall housing price trends, which can
skew results. The Daily Prices for each MSA are sorted by their percentage change from the
same period last year, without adjusting for seasonal variations. In some cases, Daily Prices
may vary based on reporting characteristics within individual MSAs.
The December 2007 RPX™ Monthly Housing Market Report will be released on March 3, 2008
at 9:00 AM EST.

About Radar Logic
Radar Logic is a technology-driven research and analytics business that produces a daily “spot”
price for residential real estate in 25 U.S. metropolitan areas. To do this, actual transaction data
are captured from public sources and translated into the Radar Logic Daily™ Prices. The Daily
Prices, in turn, power the Residential Property Index™ (RPX™) market, where derivatives and
other financial instruments are offered and traded. RPX allows real estate and financial
professionals to manage risk, invest in real estate without owning physical assets, and obtain
more accurate insight into the residential property market.

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