CORT Adds Touring Services in Markets Nationwide to Growing Suite of Rental Related Services

Nation's Largest Furniture Rental Company Evolves into Full-Service Provider for HR Professionals to Support Employee Relocations

FAIRFAX, VA (June 25, 2007) - CORT, the nation's leading rental furniture provider, continues to enhance its rental relocation services by providing nationwide touring services. CORT is the only company exclusively focused on the rental and related needs of employees.

Employees on the move, and human resource professionals who support them, may now tap into CORT's network of certified, local experts to receive half or full-day tours of their new cities all across the country.

"We are leveraging our physical presence in markets across the country to bring 'people on the move' services and insights," said Jeff Rowe, a CORT vice president who manages touring services. "Today, people have limited access to community information through Web-based searches. Our experts provide in-depth advice and community information from a local-market resident's perspective."

Building upon its core business of furniture rental for offices, apartments, trade shows and events, CORT has enhanced and expanded its capabilities to support the full range of transition services for companies and individuals, including temporary housing in hotels, apartments and corporate housing. In fact, CORT has 10 percent of the nation's rental housing under contract for referrals.

In addition to area tours, CORT provides assistance for utility connections, renters insurance, car rental, identity theft, job search for spouses and much more. CORT relocation consultants can assist with virtually any services needed to help employees and their families begin living in new communities.

Relocating for professional reasons, such as starting a new job or traveling for a temporary assignment to help with a project, is often a difficult experience for employees and their families. Imagine having to choose the ideal location for an apartment or house in an unfamiliar city or state. Employees want a location that provides a manageable commute to work and is conveniently located near schools, shopping, recreation and other amenities to accommodate a wide array of needs. Without guidance from experts familiar with the local market, this is a daunting task for employees and families.

CORT's destination services include area tours, home finding assistance, and "settling in" neighborhood orientation services such as school and church information, assistance obtaining a driver's license and other documentation for international transferees, among other services.

Touring services are the cornerstone of CORT's destination services. They are available as half-, full- and multi-day tours conducted by certified experts. Touring services allow relocating employees and families to visit apartment communities with vacancies while also providing a snapshot of the neighborhoods where these communities are located.

Local market knowledge, including awareness of available rental units, move-in specials and market-specific rental practices, is critical in many locations where occupancy rates may exceed 90 percent. CORT has more than 2,500 employees in 34 states with offices in every major metro market in the United States with long-term working relationships in the communities.

While real estate agents typically support the need for area tours and other destination services for homeowners, renters often have not had access to, or authorization from, corporate policies for these services.

Relocations and temporary assignments are on the rise. Approximately 60 percent of permanently relocated employees and more than 90 percent of temporarily assigned employees are renters. Approximately 40 percent of relocating employees receive single, lump-sum payments and others are reimbursed to cover all their relocation costs. These situations often require the employee to cobble services together from multiple providers, which can increase stress and distract from their work.

"The industry has recognized that the rental and related needs of relocating employees are underserved yet critical to employee productivity. Most companies providing these services in the past have been focused on the needs of home buyers, not renters," said Jeff Pederson, president of CORT. "We have recognized this opportunity to provide services for renters and have become much more than a furniture rental company. CORT has evolved to become a single source and trusted provider of rental and related services for companies and their employees."

According to a CORT survey of human resource professionals and employees, reducing the stress of relocation is the primary benefit of working with a single service provider. Human resource professionals also appreciate the benefit of reducing the amount of time they spend to help employees and their families get settled into their new locations.

CORT designates a single point of contact for companies to tap into services across the nation. A national representative will work with a human resource professional to create a custom suite of services and ensure that all services provided to employees are based on each corporate customer's policies.

By helping employees, CORT supports a company's strategic recruitment and retention goals and, therefore, increases employee satisfaction and helps efficiently manage costs. In fact, high employee ratings for customer service and satisfaction may be the single most important measure of a company's relocation program's value.

"CORT has had its finger on the pulse of the relocation industry for a long time and the need for services for the renter has never been more acute," Rowe said. "By continuing to improve our relocation services, CORT is further establishing itself as the leading resource for the relocating renter."

CORT is a Berkshire Hathaway Inc. company (NYSE: BRK.A and BRK.B). For more than 35 years, CORT has been a leading provider in rental furniture, accessories and related services in the "rent-to-rent" furniture industry for companies and individuals. CORT customers include more than 80 percent of the Fortune 500 companies. CORT has more than 2,500 employees in 34 states with offices in every major metro market. In addition, CORT has an expanding global presence with affiliates in more than 50 countries.

Brandon Bryce
Largemouth Communications (for CORT)
brandon@largemouthpr.com
919-459-6451

Scott Yates
Largemouth Communications (for CORT)
scott@largemouthpr.com
919-459-6452