New VISTAinfo - The Real Estate Professional's Information Provider For the Internet Economy

SAN DIEGO, Dec. 20 /PRNewswire/ -- VISTAinfo (Nasdaq: VINF) announced today that it has completed the acquisition of Moore Data Management Services (MDMS), the largest real estate software and multiple listing services provider in North America, from

Moore Corporation Limited (NYSE: MCL; Toronto). The purchase makes VISTAinfo the dominant software technology, multiple listings services (MLS) and property information services provider to residential and commercial real estate professionals.

The transaction includes all of the North American real estate operations of MDMS including Internet properties such as CyberHomes and the new Web MLS system, RE/Xplorer, along with other MDMS software and systems technologies. These services support the day to day sales efforts of over 350,000 residential real estate brokers and agents, their boards and associations, comprising the largest user base of any multiple listing services vendor.

According to Neil Johnson, VISTAinfo's CFO, "VISTAinfo paid $50 million in cash and debt, including convertible debt, and common stock. The newly combined company is projected to record revenues exceeding $100 million in the year 2000, generate positive cash flow and, as to the MDMS income contribution, be accretive to VISTAinfo's earnings per share during the latter part of the year. A one-time transaction charge resulting from the purchase, the magnitude of which remains under determination, will be recorded in the fourth quarter of 1999," Johnson added.

"Our vision is to improve and simplify the real estate process by integrating critical informational aspects of the home transaction into a Web environment, including the data necessary for locating properties, determining values and evaluating neighborhood conditions. Our highest priority is to the real estate professional, helping to close home sales more easily in a marketplace where the Internet is becoming the standard. Our offerings will create new revenue streams through a variety of Web-delivered services and products," said Tom Gay, VISTAinfo's president and CEO. "This acquisition allows us to integrate traditional VISTAinfo information products directly into the workflow of the real estate transaction via a number of branded Web sites."

"The strength of our new company resides in its vast network of content and data resources that enables real estate transactions and related commerce, as well as the breadth and depth of our relationships with real estate professionals and the home-buying consumer," said Thomas M. Gregorich, president of MDMS. "We see a significant opportunity to provide an integrated array of information and technologies needed to help close real estate sales faster," Gregorich added.

Moore Data Management Services (MDMS), based in Minneapolis, Minnesota, is North America's leader in providing technology solutions to the real estate industry. Founded in 1969, MDMS provides on-line MLS services, Intra/Internet MLS services for brokers, agents and consumers, and real estate agent desktop productivity and office management software.

MDMS products include RE/Xplorer(TM), the new standard for Web-based MLS technology, which provides real-time Internet access to on-line multiple listings data, public records and other property information services, including the SchoolMatch national database; Compass(TM) and Maestro(TM), the fastest, open architecture MLS platforms and on-line search engines in the industry; On-Line Agent(TM), desktop agent productivity software; and CyberHomes(R) (www.cyberhomes.com), one of the leading consumer-oriented services offering homebuyers and sellers access, through the Internet, to properties listed for sale by real estate professionals. CyberHomes(R) listings are updated on a daily basis directly from MLS databases, ensuring the latest information on availability, prices and other features that are important to consumers in evaluating properties.

About VISTAinfo

VISTAinfo, based in San Diego, California with offices nationwide, is a dominant software technology, multiple listings services (MLS) and property information services provider to residential and commercial real estate professionals. VISTAinfo develops Internet and desktop technology solutions and owns and maintains the largest database of location-specific real estate, environmental and insurance underwriting information in the United States. VISTAinfo's databases and technology help professionals and consumers to locate, determine value, evaluate risk, sell, buy and insure real property. For information about VISTAinfo, call 800-733-7606, visit VISTAinfo's corporate Web site at www.vistainfo.com, or email info@vistainfo.com.

About Moore Corporation Limited

Moore Corporation Limited provides data capture, information design, marketing services, digital communications and print solutions, that enable clients to improve their business processes and to increase revenues by acquiring, retaining and cross-selling to maximize customer lifetime value. Sales in 1998 were more than U.S. $2.7 billion. The Moore Internet address is www.moore.com.

The statements contained in this release, which are not historical facts, including those related to the anticipated benefits of the MDMS acquisition, projected revenues and cash flows, the effect of the acquisition on earnings per share, potential new revenue streams and implementation of the Company's strategy, contain forward-looking statements which involve risks and uncertainties. Among the factors that will affect these forward-looking statements are the Company's ability to integrate and manage the MDMS activities, the financial and operational effects of that acquisition, demand for the Company's products, competitive product and service offerings and the effect on revenues and margins, the availability of resources and the success achieved in planned cost savings programs. These factors and other risks and uncertainties are discussed in more detail in the Company's Securities and Exchange Commission filings. Because of these risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking statements.

SOURCE VISTAinfo

CONTACT: Doug Hendrix, 650-328-5555, ext. 115, or Dave Murray, 650-328-5555, ext. 114, both of Neale-May & Partners, for VISTAinfo; or Tom Gay or Steve Hamilton of VISTAinfo; 858-450-6100, or info@vistainfo.com