MyHome.ie invests €1m in NewAddress.ie - Ireland's Address Notification Service

Wednesday, 9th March 2005: Ireland's leading property website, MyHome.ie, has acquired a majority stake in NewAddress.ie, Ireland's change of address notification service.

NewAddress.ie promises to make the house moving process more efficient and cost effective. It will enable house movers to notify Ireland's leading companies of their change of address free of charge and in three easy steps. The service has already proven highly successful in the UK, US, Holland, New Zealand and Canada.

Businesses that subscribe to the service will cut costs, deliver better customer service, enjoy improved customer retention and eliminate returned bills and direct mail. Companies already signed up with NewAddress.ie include Vodafone, Superquinn, Gorta, Irish Blood Transfusion Service and Statoil.

Derek Quinn, Managing Director, NewAddress.ie, said: "NewAddress.ie is an invaluable asset to home movers which removes the hassle of informing an average of 25 companies, including banks, insurance companies, loyalty cards and utilities of their new address. It is a great way of ensuring address changes are notified to relevant companies in a timely, efficient and cost effective manner."

He continued: "We have already signed a number of Ireland's best known organisations as partners and have been appointed as a reseller of the An Post redirection service. We are extremely confident of success, with our research showing that over 70% of consumers will use the service."

Commenting on the investment, Jim Miley, Chief Executive, MyHome.ie, said: "We are delighted to invest in NewAddress.ie. This service is an ideal fit for MyHome.ie, given that the majority of home-movers already use our site. It promises to be an essential service for the home mover and a valuable customer-relations tool for utility and service companies. It is the first strategic investment by MyHome.ie and we are confident that it will be a winner."

The NewAddress.ie service has already been validated by the Data Commissioner and has passed rigorous security tests carried out by leading independent security consultancy Rits.

Sean Sweeney, Senior Compliance Officer at the Data Protection Commissioners Office, commented: "A service such as that offered by NewAddress.ie is certainly an innovative method of ensuring that address changes are notified to relevant bodies in a timely and efficient manner. Such a service can be seen as a valuable aid to maintaining the accuracy of data and assisting data controllers to comply with their legal obligations."

Established in 2004, with the assistance of a grant from Enterprise Ireland, NewAddress.ie is a 100% Irish-owned company and operates from a dedicated centre in Foxrock, Co Dublin. Its service will be available this summer.

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About NewAddress.ie

NewAddress.ie's vision is to make moving house easier and simpler through enabling house movers' change of address to be notified via Internet or Contact Centre to providers of goods and services.

The 100% Irish owned company has built up strong relationships with international providers of change of address services in the UK, Holland, New Zealand and Canada.

NewAddress.ie's Founders & Management Team

Derek Quinn - Managing/Marketing Director. Derek is a founder of MovieExtras.ie. In February 2005, MovieExtras.ie was shortlisted for the Small Firms Association 'Innovators of the Year' and 'Small Firm of the Year Award' in the inaugural SFA Awards Programme. Previously, Derek held marketing and sales roles in Ocean Communications, Esat Telecom, Esat Clear, Telecom Eireann, Focus Housing and Gorta between 1994 and 2001.

Kevin Gill - Technical Director. Kevin is a founder of MovieExtras.ie. He is a software developer with 15 years experience in the technical fields of system design and development and systems integration. Previously he has worked with Kindle Banking Systems and Telcotec.

Bob Hoffman - Sales Director. Bob has 18 years experience of working with some of Ireland's most dynamic companies, including positions with American Express, Bank of Ireland and Statoil. Latterly, he held corporate sales positions with two brands that helped to transform Ireland's telecommunications industry - MCI WorldCom and O2 Ireland.

For further information log on to www.NewAddress.ie

About MyHome.ie

MyHome.ie has the largest up-to-date property listing available in this country, either on or off line. MyHome.ie not only allows house hunters to view full colour brochures of houses online - it also plots the precise location of the house through its unique mapping function. Advertising property for 550 of Ireland's top estate agents, the site has between 12,000 and 15,000 property listings at any one time.

Updated daily with new properties, the site also provides listings for solicitors, removal companies and other services of interest to property buyers and homeowners. The company also offers an online mortgage facility and a Home & Garden channel with product offerings from a range of leading home décor and DIY brands.

For further information, log on to www.MyHome.ie .