Sotheby’s International Realty^® Expansion Reaches Uruguay

PARSIPPANY, N.J. & PUNTA DEL ESTE, Uruguay--(BUSINESS WIRE)--

Sotheby’s International Realty Affiliates, Inc. today announced that the Sotheby’s International Realty^® luxury real estate franchise network has expanded to the South American country of Uruguay. Exclusive luxury real estate services are now available through Uruguay Properties Sotheby’s International Realty, which has secured the master franchise rights for the entire country and has opened its first office in the oceanfront city of Punta del Este.

“The costal areas of Uruguay are an emerging South American real estate market. We are very pleased that our global clientele will have access to our luxury real estate services in these highly desired areas.”

“Our expansion into Uruguay continues our commitment to provide access to our network’s exclusive real estate services in more countries around the world,” said Michael R. Good, president & CEO of Sotheby’s International Realty Affiliates, Inc. “The costal areas of Uruguay are an emerging South American real estate market. We are very pleased that our global clientele will have access to our luxury real estate services in these highly desired areas.”

Eduardo Braun, an owner of Uruguay Properties Sotheby’s International Realty, said, “We are proud to be the only firm in Uruguay that is able to offer prestigious Sotheby’s International Realty services. Real estate in southern Uruguay is attracting worldwide attention because of our fine quality of life. This affiliation will help us attract qualified buyers to our clients’ properties. We look forward to being Uruguay’s premier luxury real estate firm.”

Uruguay Properties Sotheby’s International Realty will benefit from the networking and referral opportunities with other Sotheby’s International Realty^® affiliates located in more than 350 offices around the world. The firm’s property listings will receive global marketing exposure through the sothebysrealty.com global Web site and other international marketing initiatives that help attract many of the world’s most sought-after real estate clientele.

Uruguay Properties Sotheby’s International Realty specializes in finer homes in Uruguay, and the firm’s first office in Punta del Este will focus on providing luxury real estate services for communities located in the southern part of the country along the Atlantic Ocean, including Punta del Este, La Barra, Jose Ignacio and Rocha, Uruguay. The firm’s manager is Alejandro Reyser, a ten-year real estate veteran. For additional information, visit www.sothebysrealtyuruguay.com or contact the firm at +1-598-42-77-2722.

About Sotheby’s International Realty Affiliates, Inc.

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty^® network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation (then Cendant Corporation), the world’s leading real estate brokerage franchisor, entered into a long-term strategic alliance with Sotheby’s Holdings, Inc. (NYSE: BID; LSE: STBA). The agreement provided for the licensing of the Sotheby’s International Realty^® name and the development of a full franchise system by Sotheby’s International Realty Affiliates, Inc., a subsidiary of Realogy Corporation (NYSE: H), the world’s largest real estate franchisor. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates, Inc. supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.