IFM Investments Limited Announces Pricing of Initial Public Offering on New York Stock Exchange

BEIJING, Jan. 28 /PRNewswire-Asia-FirstCall/ -- IFM Investments Limited (NYSE: CTC) ("Century 21 China" or the "Company"), a leading comprehensive real estate services provider with the largest network of real estate sales offices and the exclusive franchisor for the CENTURY 21(R) brand in China, today announced that its initial public offering of 12,487,500 American Depositary Shares ("ADSs"), each representing 15 Class A ordinary shares of the Company, was priced at $7.00 per ADS. The ADSs will begin trading on the New York Stock Exchange on January 28, 2010 under the symbol "CTC."

The underwriters have been granted a 30-day option to purchase up to 1,873,125 additional ADSs to cover over-allotments.

Goldman Sachs and Morgan Stanley acted as joint book runners and William Blair & Company and Oppenheimer & Co acted as co-managers for the offering.

Century 21 China's registration statement relating to these securities has been declared effective by the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Goldman Sachs at Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, telephone (866) 471-2526, or by e-mailing Prospectus-NY@ny.email.gs.com or by contacting Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York, 10014, telephone (866) 718-1649, or by e-mailing prospectus@morganstanley.com.

About IFM Investments Limited

IFM Investments Limited ("Century 21 China") (NYSE: CTC) is a leading comprehensive real estate services provider with the largest network of real estate sales offices and the exclusive franchisor for the CENTURY 21(R) brand in China. Century 21 China primarily focuses on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services and mortgage management services. Century 21 China has experienced substantial growth since it commenced operations in 2000, supported by its information systems and training programs. Over the past ten years, it has received numerous awards and recognitions for its service quality and business achievements, including "Highly Appraised Franchisor Award" by the China Chain Store and Franchise Associate in 2008 and 2009, "Prominent Real Estate Services Provider" by Sina.com in 2008 and "Most Reputable Real Estate Services Provider" by Sohu.com in 2009. For more information about Century 21 China, please visit http://www.century21cn.com/english .

For investor and media inquiries, please contact:

In China:

Kevin Yung / Melody Liu

Executive Vice President / Investor Relations Manager

IFM Investments Limited

Phone: +86-10-6561-0345 / +86-10-6561-5982

Email: ir@century21cn.com

Michael Tieu

ICR Inc.

Phone: +86-10-6599-7960

Email: michael.tieu@icrinc.com

In the United States:

William Zima

ICR, Inc.

Phone: +1-203-682-8200

Email: william.zima@icrinc.com

Related stocks: NYSE:CTC