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CoStar Group, Inc. Elects John W. Hill to Board of Directors

WASHINGTON, Oct. 2, 2012 (GLOBE NEWSWIRE) -- CoStar Group, Inc. (Nasdaq:CSGP), today announced the election of John W. Hill, Founder and Chief Executive Officer of John W. Hill Consulting, to its Board of Directors. Hill was elected by CoStar's Board of Directors at a regularly scheduled Board meeting held on September 27, 2012, to fill a newly created directorship. This increases the number of CoStar directors from seven to eight.

With more than three decades of experience in financial management, organizational design and development, and strategic business planning, Mr. Hill has a proven track record leading high-performing organizations across diverse industries, comprising government, non-profit and for-profit entities. Currently leading an independent consulting practice, Mr. Hill served for eight years as Chief Executive Officer of The Federal City Council, a not-for-profit, non-partisan organization dedicated to the improvement of Washington, DC. Mr. Hill also previously served as the Chief Executive Officer of ln2Books, Inc., a partner with Andersen, LLP, and as Director of Audits in Marriott Corporation's Internal Audit Division, among other financial leadership positions.

"John brings a strong breadth of financial and organizational management expertise to our Board," said Andrew C. Florance, Founder and Chief Executive Officer of CoStar. "His extensive background in accounting, auditing and financial matters will be of tremendous value in supporting CoStar's growth and expansion efforts."

Hill joins a distinguished group of business leaders on CoStar's Board, which includes Florance; Chairman Michael R. Klein, Chairman of the Board of the Sunlight Foundation; David Bonderman, Founding Partner of TPG Capital, L.P.; Michael J. Glosserman, Managing Member, The JBG Companies; Warren H. Haber, Chairman and CEO of Founders Equity Inc.; Christopher J. Nassetta, President and Chief Executive Officer of Hilton Worldwide; and David J. Steinberg, Chief Executive Officer, SnappCloud, Inc.

Mr. Hill currently serves as the Chair of the compensation committee, as a member of the audit committee and as a member of the Trustees committee of Chesapeake Lodging Trust Corporation. Previously, Mr. Hill served on the Board of Directors and was a member of the audit and compensation committees for Highland Hospitality, Inc. He also has served in Board positions with the DC Public Library and DC Shakespeare Theatre, among other public government-related and non-profit organizations in the Washington, DC region. He received a B.S. in Accounting from the University of Maryland and is a Certified Public Accountant and Certified Government Financial Manager.

About CoStar Group, Inc.

CoStar Group (Nasdaq:CSGP) is commercial real estate's leading provider of information, analytics and marketing services. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. Through LoopNet, the Company operates the most heavily trafficked commercial real estate marketplace online with more than 6.1 million registered members and 3.6 million unique monthly visitors. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe including the industry's largest professional research organization. For more information, visit www.costar.com.

This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Annual Report on Form 10-K for the year ended December 31, 2011, and CoStar's Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, under the heading "Risk Factors" section of each of these filings. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements, whether as a result of new information, future events or otherwise.

CONTACT: Richard Simonelli (202) 346-6394 rsimonelli@costar.comSource:CoStar Group, Inc.