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Move, Inc. Announces Fourth Quarter 2010 Financial Results

CAMPBELL, Calif. Feb. 10, 2011 December 31, 2010

$48.9 million $49.6 million $409,000 $0.00 $4.5 million $0.03 $5.0 million $6.3 million $5.1 million

Steve Berkowitz

4th Quarter 2010 Highlights:

  • Market leadership: Move maintained its leading market position, leading the industry in unique users and total engagement.  In 2010, on a monthly basis, the Move Network attracted an average of 11 million unique users(1) who spent on average more than 224 million minutes monthly on our network(1).  Visitors to the Move Network viewed nearly 4.4 billion total pages in 2010, more than the next six competitors combined.  
  • MortgageMatch.com:  Launched in December, MortgageMatch.com was developed to give first time buyers or refinancing owners the tools they need to find and prequalify for the right loan in as little as 10 minutes. In its first month in operation, MortgageMatch.com’s state-of-the-art decision engine helped more than 30,000 prospective homebuyers know in just a few minutes how much they can afford to borrow and what their monthly payments would be based on real rates and loan choices for which they qualify.
  • AOL: Move announced an agreement whereby Move will power the AOL Real Estate search experience.  The agreement delivers a powerful ad network for agents and advertisers to expand their reach and visibility to AOL.com’s millions of monthly visitors. The AOL Real Estate experience powered by Move will deliver a user experience customized for AOL with instant access to accurate property listings, neighborhood and school content, and connections to real estate experts. Leveraging Move’s ListHub network, Move will syndicate millions of listings to AOL Real Estate and power the home buyer’s search experience.
  • Mobile Highlights: Move launched the Realtor.com Real Estate Search Android and Windows Phone 7 application in November, building on the success of Move’s Realtor.com iPhone app launched in January.  In 2010, the Realtor.com mobile apps have been downloaded over 3 million times with hundreds of thousands of consumers connecting directly with real estate professionals.

December 31, 2010 $197.5 million $212.0 million $20.9 million $0.13 $12.2 million $0.08 $23.1 million $26.2 million

Capital Structure

$70 million $50 million $1.5 million $25 million

Business Outlook

March 31, 2011 March 31, 2011 $48.0 million $49.0 million

December 31, 2011 December 31, 2011 $200 million and $205 million

Conference Call

Thursday, February 10, 2011 1:30 p.m. Pacific Time 4:30 p.m. Eastern Time 1:30 p.m. PT http://investor.move.com 7:30 p.m. ET February 10, 2011 11:59 p.m. ET February 25, 2011

http://investor.move.com March 5, 2010 December 31, 2009 December 31, 2010 February 18, 2011

Use of Non-GAAP Financial Measures

the United States December 31, 2010

This press release may contain forward-looking statements, including information about management’s view of Move’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Move, its subsidiaries, divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Move files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Move’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Move cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Move expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.

ABOUT MOVE, INC

Campbell, California

December 2010

MOVE, INC.

CONSOLIDATED STATEMENTS OF OPERAT IONS

(in thousands, except per share amounts)

Three Months Ended December 31,

Twelve Months Ended December 31,

2010

2009

2010

2009

(unaudited)

Revenue

$

48,913

$

49,638

$

197,503

$

212,009

Cost of revenue (1)

10,337

11,033

43,119

48,498

Gross profit

38,576

38,605

154,384

163,511

Operating expenses: (1)

Sales and marketing

17,902

17,126

73,737

78,062

Product and web site development

8,803

7,374

34,320

27,832

General and administrative

10,291

13,717

42,657

64,944

Amortization of intangible assets

348

107

696

473

Litigation settlement

3,888

4,863

Restructuring charges

(1,192)

Total operating expenses

37,344

42,212

151,410

174,982

Operating income (loss) from continuing operations

1,232

(3,607)

2,974

(11,471)

Interest income, net

143

119

910

847

Earnings of unconsolidated joint venture

376

149

1,017

149

Impairment of auction rate securities

(19,559)

Other income (expense), net

177

8

(967)

1,749

Income (loss) from continuing operations before income taxes

1,928

(3,331)

(15,625)

(8,726)

Income tax expense (benefit)

160

(190)

(153)

37

Income (loss) from continuing operations

1,768

(3,141)

(15,472)

(8,763)

Loss from discontinued operations

(41)

(486)

Gain on disposition of discontinued operations

2,303

Net income (loss)

1,768

(3,182)

(15,472)

(6,946)

Convertible preferred stock dividend and related accretion

(1,359)

(1,324)

(5,383)

(5,244)

Net income (loss) applicable to common stockholders

$

409

$

(4,506)

$

(20,855)

$

(12,190)

Basic net income (loss) per share applicable to common stockholders:

Continuing operations

$

0.00

$

(0.03)

$

(0.13)

$

(0.09)

Discontinued operations

(0.00)

0.01

Basic net income (loss) per share applicable to common stockholders:

$

0.00

$

(0.03)

$

(0.13)

$

(0.08)

Diluted net income (loss) per share applicable to common stockholders

Continuing operations

$

0.00

$

(0.03)

$

(0.13)

$

(0.09)

Discontinued operations

(0.00)

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