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CoStar Group Announces Pricing of Common Stock Offering

September 28, 2017
CoStar Group, Inc. (NASDAQ: CSGP) (“CoStar”) announced today that it has priced an offering of 2,884,616 shares of its common stock at a price of $260.00 per share.

The company also said it has granted the underwriters in the offering a 30-day option to purchase up to an additional 432,692 shares of its common stock at the same price.

J.P. Morgan, Goldman Sachs & Co., Citigroup, BofA Merrill Lynch, SunTrust Robinson Humphrey and Wells Fargo Securities are acting as joint-bookrunning managers, with Needham & Company, Stephens Inc., William Blair, JMP Securities, B. Riley & Co. and Regions Securities LLC acting as co-managers for the offering. The company said it expects the offering to close on October 3, 2017, subject to customary closing conditions.

CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strategic acquisitions it may pursue in the future, as well as to finance the growth of its business and for working capital and other general corporate purposes.

The shares are being offered pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission.

Additional Disclosures:

A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov.. Copies of the prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone at (866) 471-2526, facsimile at (212) 902-9316 or by emailing prospectus-ny@ny.email.gs.com.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such 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 these securities will be made only by means of the prospectus supplement and the accompanying prospectus.

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