Homestore.com(TM) Extends iPIX(R) Rimfire(TM) Platform To Welcome Wagon and i-LEAD XL Web-Based Services

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SAN RAMON,CA/OAKRIDGE,TN--July 31-- Internet Pictures Corporation, the standard in the delivery of dynamic imaging, has announced that Homestore.com (Nasdaq: HOMS), the #1 house and home network, has incorporated iPIX`s Rimfire(TM) imaging platform into Homestore.com`s Welcome Wagon(R) web-based solutions and added a new Rimfire-enabled module to its i-LEAD(TM) XL product. "The Homestore.com family of sites and related services are highly sophisticated and targeted to reach a specific real estate audience," stated Howard Field, iPIX senior vice president of business development. "We are pleased to be integrating Rimfire technology into the Welcome Wagon offering to help Homestore.com harness the power of imaging to increase revenue and improve the user experience. We are excited to see Rimfire solutions continue to be adopted in the real estate and auction markets and look forward to adoption in other vertical markets where imaging is mission critical." Through its Welcome Wagon services, Homestore.com is offering a new Rimfire enabled page-builder solution that allows local merchants and service professionals to establish themselves on the Internet. Homestore.com merchants use the Rimfire imaging platform to instantly upload and process their own images, such as product photos and company logos, to their online storefronts promoting their individual businesses. The Merchant listings will be integrated into existing Homestore directories and searches. The online presence of Welcome Wagon, once known for its traditional door-to-door delivery of address and coupon books to new homebuyers, offers site visitors a network and consolidated list of local goods, services and special offers from Welcome Wagon sponsors. iPIX`s Rimfire technology will also serve as an internal Homestore.com tool to speed the upload and processing of Welcome Wagon sponsors logos in order to create coupons and related promotions. To date, adding sponsor logos has been a time-consuming and laborious process. The new Rimfire-enabled service will allow for instant batch upload of images and formatting of Sponsor logos to increase efficiency, reduce costs and increase sponsor satisfaction. In addition, Homestore has added a new Rimfire-enabled custom module to its REALTOR.com(R) i-LEAD XL service. The new module allows real estate agents to instantly add photos and logos directly to new "Showcase" pages of their personal web sites. i-LEAD subscribers have been using Rimfire to add images to their Homestore.com listings since 1999. Rimfire is an open imaging platform that allows B2B and B2C sites to quickly and easily capture, manage and distribute media from site viewers to live Web pages. With Rimfire, end-users can easily publish still photos and other rich media to the Web with simple drag-and-drop image submission. At the same time, on behalf of the target Web site, Rimfire will handle all of the data and image management, storage and serving requirements associated with that image. Rimfire also offers enhanced features for automatic generation of slide shows from multiple photos, NetCards using submitted images and built-in size, crop and rotate tools. "We have experienced first-hand how iPIX Rimfire technology can improve efficiency with our REALTOR.com i-LEAD product for real estate agents, so we are excited to be extending this same functionality to our Welcome Wagon Web-based solutions," said Michael Donaghey, Homestore.com vice president, retail channel. "With Rimfire technology, we can deliver an easy-to-use imaging service that will attract more users and drive online lead generation for our vendors." About Homestore.com Homestore.com, Inc. (Nasdaq: HOMS) is the leading network of sites on the Internet for home and real estate-related information, products and services. Homestore.com, Inc.`s family of Web sites includes the Homestore.com(TM), Realtor.com(R), HomeBuilder.com(TM), SpringStreet.com(TM) and HomeFair.com(TM) Web sites. Consumers can view over 1.4 million new and existing homes for sale and find broker and agent services on Realtor.com(R), the official Internet site of the National Association of REALTORS(R). Consumers searching for new homes can find more than 130,000 models, new homes and built-to-suit plans on HomeBuilder.com(TM), the official new homes site of the National Association of Home Builders. Consumers interested in renting an apartment will find listing information from more than 45,000 properties in more than 6,000 cities on SpringStreet.com(TM). Homestore.com`s(TM) remodeling area covers home improvement needs for both consumers and remodeling professionals. Comprehensive moving and relocation information on the Internet is available from HomeFair.com(TM). Other subsidiaries of Homestore.com, Inc. include WyldFyre Technologies, the leading developer of software used to access Multiple Listing Service data and property photos; Top Producer Systems, North America`s #1-selling provider of leads management and marketing software for real estate professionals; and the Hessel Group (THG), the leading provider of technology-driven solutions and services to the relocation industry. THG will be integrated into a new unit called Homestore.com Mobility Technologies, Inc. Homestore.com(TM) also has content distribution relationships with America Online, Excite@Home, Netscape, and Go Network/Infoseek. About iPIX Internet Pictures Corporation (iPIX(R)) provides mission critical imaging solutions to facilitate commerce, communication and entertainment. The Company`s solutions include the capture, processing, management and distribution of images and related data. iPIX solutions create and manage a rich variety of media including still images, 360-degree by 360-degree immersive images, video, animation, text and audio. A broad array of industries -- including real estate, auctions, travel, government, education, automotive, sports and entertainment -- are capitalizing on iPIX dynamic imaging to give viewers more information, more interaction and a richer online experience. Eighty percent of Media Metrix`s top ten Web properties use iPIX to make their sites more dynamic. The Company is headquartered in Oak Ridge, Tennessee, with co-headquarters in San Ramon, California. http://www.ipix.com Internet Pictures and iPIX are trademarks and service marks of Internet Pictures Corporation. The securities to be sold in the investment have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors under those sections. In some cases, you can identify forward-looking statements by terminology such as "expect," "may," "will," "plans," and "anticipate," or the negative of such terms or comparable terminology. Forward-looking statements appearing herein include statements concerning operating and profitability plans and goals, restructuring efforts, and the timing and amount of private investment proceeds, and are based on current expectations. Actual results may differ materially from those projected in the forward-looking statements based upon a number of factors including (i) the inability to close on a portion of the proposed investment, (ii) changes in the demand for iPIX products and services, (iii) the loss of existing, or an inability to attract new, iPIX customers, (iv) technological changes, (v) general economic, financial or market changes or developments, and (vi) an inability to successfully implement restructuring and profitability plans. The matters discussed in this press release also involve risks and uncertainties described from time to time in Internet Pictures Corporation`s filings with the Securities and Exchange Commission. In particular, see "Risk Factors" in the annual report filed on Form 10-K with the SEC on April 2, 2001 (http://www.sec.gov).