Firms in California and South Carolina Join Sotheby’s Network

RISMEDIA, Feb. 19, 2007-Two firms located in California and South Carolina became Sotheby's International Realty® affiliates this week, continuing the expansion of the luxury real estate network into more of the country's highly desired and distinctive marketplaces.

"During this very exciting week, our luxury network expanded within the U.S. states and announced plans to open future offices in Qatar, Morocco, Egypt and Oman," said Michael R. Good, president and CEO of Sotheby's International Realty Affiliates, Inc. "Our brand's worldwide prestige, combined with the substantial investments we make in all areas of marketing, technology and business services, are attracting elite firms to affiliate with our luxury real estate network."

"Last year, we experienced office growth of 57 percent, and we look forward to continued network expansion throughout 2007," added Good.

The two real estate firms that became Sotheby's International Realty® affiliates this week are:

• The Michael Clifford Group Sotheby's International Realty. Located in Mission Viejo, Calif., the firm and its team of more than 40 real estate professionals focus on providing luxury real estate services for southern Orange County, Calif. The company is owned by Michael Davar and Cliff Cavenecia.

• Daniel Ravenel Sotheby's International Realty. Owned by Daniel Ravenel, this leading real estate firm has a team of more than 20 sales associates that provides luxury real estate services for Charleston, S.C., and many nearby towns and communities.

In addition to these new U.S. affiliates, earlier this week the company announced that it awarded the master franchise rights to expand the Sotheby's International Realty® network into the countries of Qatar, Morocco, Egypt and Oman. The rights have been acquired by Qatar Real Estate Partners, which is a joint venture partnership formed between Qatari Diar, a regional leader in real estate development, and NorthCourse Leisure Real Estate Solutions, a global vacation and leisure real estate company.

As Sotheby's International Realty® affiliates, these firms will market all of their clients' property listings on the www.sothebysrealty.com global Web site, which currently posts luxury home listings from countries around the world. The firms will have access to unique networking and referral programs with Sotheby's International Realty® brokers located in more than 350 worldwide offices, as well as other marketing products designed to help bring more value to current and prospective clientele.

For more information, visit www.sothebysrealty.com.

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