Sotheby’s International Realty Luxury Network Expands to South America

RISMEDIA, Feb. 23, 2007-Sotheby's International Realty Affiliates, Inc. announced that its master franchisors for Argentina and Uruguay have each opened their first offices, representing the first offices for the Sotheby's International Realty® network in South America.

"This South American expansion reflects the global nature of luxury real estate and our network's strong ability to serve this clientele," said Michael R. Good, president & CEO of Sotheby's International Realty Affiliates, Inc. "Real estate in Argentina and Uruguay has long been attractive to people throughout the world. Our unique international marketing programs will help market South American homes to buyers located throughout the Americas, Caribbean, Europe and beyond."

Argentina Properties Sotheby's International Realty holds master franchise rights for the entire country and will focus its initial efforts on greater Buenos Aires, an area with a population of 11.5 million. Uruguay Properties Sotheby's International Realty is headquartered in Punta del Este, Uruguay, and will focus on providing luxury real estate services for communities located in the southern part of the country along the Atlantic Ocean. The companies are each owned by a group of investors led by Eduardo Braun.

"Argentina is undergoing a tremendous real estate renaissance, attracting buyers from throughout South America and the world," said Braun. "Meanwhile, real estate in southern Uruguay is attracting worldwide attention because of our fine quality of life. The Sotheby's International Realty affiliation aligns us with some of the world's leading real estate firms and provides us with innovative marketing programs that have a global reach."

Each firm 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.

For more information, visit www.sothebysrealtyargentina.com, www.sothebysrealtyuruguay.com, or www.sothebysrealty.com.

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