NRT's Top 1,000 Sales Associates for the second quarter of 2008

July 1st, 2008

Dear William:

I am pleased to inform you that your recent outstanding achievements during the second quarter of 2008 have earned you the distinction of being named to NRT’s Top 1,000 Sales Associates for the second quarter of 2008.  Clearly, your determination, tenacity and stellar sales abilities place you in a league of your own, shared with only the top 1.8 percent of NRT;s 54,000 sales associates.

This achievement is underscored by your impressive ability to produce in a changing and competitive market.  As a member of the NRT family, you are a part of the industry-leading company known nationally for delivering exceptional service and achieving remarkable results.  To put it simply, the distinction you have earned establishes you among the best of the best.

You are a fitting role model for our company and our industry, and I am so very proud to have you as part of the NRT family.  Thank you for your efforts and best wishes for your continued success.

Sincerely,

Bruce Zipf