CENTURY 21 AUSTRALASIA CHAIRMAN JOINS BOARD LIVEOFFERTMPILOT TO COMMENCE IN AUSTRALIA

  • Chairman and owner of Century 21 Australasia has been appointed Chairman of Property Connect

  • Mr Charles Tarbey brings 45 years of experience in real estate and property management and a deep understanding of leasing

  • Agreed pilot of LiveOfferTMplatform to take place with select Century 21 owned offices in Victoria and Western Australia

  • This is a significant step for the Company in establishing a foothold in Australia as it positions itself to bring its offering to the Australian market

27thMarch, 2017: Property Connect Holdings Limited (ASX: PCH) ('Property Connect' or 'the Company') is pleased to announce that the Chairman and owner of Century 21 Australasia ('Century 21'), Mr Charles Tarbey, has been appointed as the Chairman

of Property Connect and it has been agreed that select company owned offices in Victoria and Western Australia will undertake a trial of the LiveOfferTMtechnology in Australia from April.

At the same time, Mr Michael Langoulant has stepped down from his role on the Board as Non-Executive Chairman, which he took on in November 2016 and will remain on the Board as a Non-Executive Director.

Century 21 is the world's largest real estate sales organisation with around 6,950 franchised broker offices, 106,000 affiliated sales associates, and a presence in over 76 countries.

Appointment of Mr Charles Tarbey as Chairman

Mr Tarbey brings over 45 years of experience in real estate and property management and an in-depth understanding of leasing having started his career as a property manager. In 2011, Charles purchased one of Australia's largest property management groups, Wentworth Holdings and assumed control of nearly 8,000 residential, commercial and industrial properties. Mr Tarbey is owner of the master franchises for Century 21 Australia, Century 21 New Zealand and Century 21 Papua New Guinea.

Property Connect Chief Executive Officer, Tim Manson states: "Charles' appointment and position as an industry leader provides further validation for Property Connect's technology that optimises rental contract negotiation and follows recent progress the Company has made signing Master Service Agreements with property managers Berger and EIMC in the US. We believe our LiveOfferTMplatform directly translates to the Australian market and we are pleased to have made these significant steps towards establishing our presence in Australia.

"Commencing with Century 21, Property Connect's strategy in Australia will involve targeting and running supported technology trials with large real estate groups and

property management businesses, knowing that successful trials can lead to commercialisation of the technology across large networks in a cost-effective manner.

"Charles' vast experience and unique insights into real estate markets will help Property Connect develop and refine its offering, technology and strategy. His extensive dealings with networks across international real estate markets will also help shape Property Connect's global expansion strategy moving forward.

"The Board and management team would like to extend its thanks to Mr Langoulant who took up the role of Chairman late 2016. He has steered the company through a period of strong operational and corporate progress and we are grateful for his stewardship."

LiveOfferTM trial in Victoria and Western Australia

In what represents a strong endorsement of the LiveOfferTMplatform, a selection of Century 21 company owned offices in Victoria and Western Australia will undertake a trial of the LiveOfferTMtechnology as soon as is practically possible.

The Chairman of Century 21 Australasia, Charles Tarbey said: "Property Connect's technology has the ability to drive efficiencies in the leasing of property and potentially deliver better outcomes for landlords, property managers and renters.

"The typical renting process in Australia sees potential tenants inspect a property before writing their bid and details on a piece of paper to later be assessed by the property manager in question. Outside of the paper issue, the traditional process typically does not afford tenants transparency and the ability to counter-bid like an auction scenario, which may not be the most efficient situation for tenants or property managers looking to extract the best offers for their landlords.

"Further, when there are no bids for the rental property, prospective tenants will be able to see this and not overpay for a rental property as they may have done in the past when they were not privy to the level of interest in the rental.

"Property Connect also has the ability to improve the leasing process for landlords and property managers with the LiveOfferTMtechnology allowing them to evaluate bids and optimise their property tenancies according to their specific priorities.

"I also especially like the fact that many landlords will have access to a live market for their rental property for the first time which I believe will be a welcome addition for many.

"If this win-win-win scenario can be demonstrated and implemented effectively across markets, Property Connect has the potential to become a default real technology for many real estate groups," concluded Charles Tarbey.

The Company is working with Century 21 to finalise the terms and conditions of a trial of the LiveOfferTMplatform, with a pilot anticipated to commence in April 2017 under a formal contract. The management team is focused on establishing additional

partnerships and continues to look for strategic opportunities to further enhance the value of the Company's offering.

-END- Forward-Looking Statements

This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning PCH's potential business development, corporate activities and any, and all, statements that are not historical facts. When used in this document, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should" and similar expressions are forward- looking statements. PCH believes that its forward-looking statements are reasonable; however, forward-looking statements involve risks and uncertainties and no assurance can be given that actual future results will be consistent with these forward-looking statements. All figures presented in this document are unaudited and this document does not contain any forecasts of profitability or loss.

For more information, please contact:

Tim Manson Founder and CEO

tim@propertyconnect.com

Media Queries

Harrison Polites Harrison.polites@mcpartners.com.au

+61 409 623 618

About Property Connect

Property Connect has developed the LiveOfferTMtechnology, designed to create an easy, fair and transparent system under which potential tenants can negotiate the best

offer on a rental property. Founded in 2012 and based in Los Angeles, Property Connect enables leasing agents the opportunity to secure optimal leasing terms on each property.

The company is listed on the Australian Securities Exchange (ASX:PCH). www.propertyconnect.com

Property Connect Holdings Limited published this content on 27 March 2017 and is solely responsible for the information contained herein.
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