THE ADVERTISING COUNCIL AND NEIGHBORWORKS® AMERICA LAUNCH NATIONAL PSA CAMPAIGN ON FORECLOSURE PREVENTION

NEW YORK, NY June 26, 2007 / PRNewswire / – The Advertising Council, in partnership with Neighborworks® America, announced today the launch of a national public service advertising (PSA) campaign designed to educate homeowners about where they can turn for help if they are at risk of foreclosure, which according to according to several housing industry estimates, are expected to exceed one million households in 2007.

Research released today by NeighborWorks® America shows that homes that are not directly foreclosed upon can also be affected by foreclosure. Furthermore, homes that are close to those that were foreclosed upon lose nearly one percent of their value for each foreclosed property. Studies conducted by Freddie Mac show that roughly 50% of delinquent borrowers avoid contact with their lender hoping the problem will go away. If these homeowners could receive solid financial advice and help, tens of thousands of them could avoid foreclosure.

Created pro bono by ad agency mcgarrybowen, the new television, radio and web PSAs urge homeowners in financial trouble to call 888-995-HOPE, a hotline that is the cornerstone of a foreclosure prevention effort involving many of the country's largest mortgage market companies. Print and outdoor PSAs will be released in July.

"We are thrilled to partner with NeighborWorks® America on this critical issue of home foreclosures because we recognize the devastating effect foreclosure can have on a family," said Peggy Conlon, President and CEO, the Ad Council. "We are confident that these new PSAs will resonate with homeowners struggling with their mortgages and encourage them to contact the hotline to learn what they can do."

"The campaign that we launch today with the Ad Council is vitally important to maintaining the gains that have been achieved in homeownership," said NeighborWorks® America CEO Ken Wade. "Earlier this month, the Mortgage Bankers Association, a campaign supporter, released new residential mortgage foreclosure statistics that show the problem of foreclosure is increasing. Families are under stress from a variety of complicated sources – high mortgage costs from adjustable rate and subprime mortgages, weak local economies, personal factors such as illness, or divorce and more – but the action every homeowner at risk of foreclosure needs to take is simple: Call the Homeowner's HOPE hotline and begin the conversation to work-out the problem and avoid foreclosure."

"Home foreclosure is an important, very real issue that many Americans are faced with every day," said John Mcgarry, CEO mcgarrybowen. "We are honored to have partnered with NeighborWorks America and believe this campaign will both further that organization's mission and help homeowners take action to improve their mortgage situation."

NeighborWorks America

NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. To date, we have assisted nearly 850,000 low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network — more than 235 community development organizations working in 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the last five years, NeighborWorks organizations have generated more than $12.4 billion in reinvestment in these communities. www.nw.org.

mcgarrybowen

mcgarrybowen is the largest independently held agency in New York, with billings in excess of $1 Billion, and is lead creative agency for some of the world's greatest brands including Marriott, Pfizer, Crayola, InBev, Chase, Reebok, Century 21, Kraft, Disney and the Wall Street Journal. Founded in 2004 by three of the most experienced senior executives in the advertising business, the agency provides the agility and creative quality of a boutique with the management talent level of multinational agency and offers every communications service currently in existence.

The Advertising Council

The Ad Council is a private, non-profit organization with a rich history of marshalling volunteer talent from the advertising and media industries to deliver critical messages to the American public. Having produced literally thousands of PSA campaigns addressing the most pressing social issues of the day, the Ad Council has effected, and continues to effect, tremendous positive change by raising awareness, inspiring action, and saving lives. To learn more about the Ad Council and its campaigns, visit www.adcouncil.org.