Coldwell Banker Real Estate Signs Master Franchise Agreement for Turkey

RISMEDIA, Feb. 26, 2007-Coldwell Banker Real Estate Corporation has announced that it has signed a master franchise agreement with BEMA Group Inc. to open Coldwell Banker® franchises in Turkey. The Coldwell Banker brand currently has a presence in 32 countries and territories around the globe.

BEMA Group Incorporated, a newly formed entity, is a collaboration of partners with a diverse background including experience in construction management, engineering, architecture, and precious metals brokering. They plan on establishing Coldwell Banker franchise locations in Turkey and Northern Cyprus.

"To gain a foothold in eastern Mediterranean region is a tremendous step for Coldwell Banker. Turkey serves as a bridge between Europe and Asia, and its favorable demographics point to a continuing demand for homeownership and property investment," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate Corporation. "We have made international growth one of our key initiatives, and establishing the agreement with BEMA Group Incorporated is another positive step in the brand's expansion."

"We have been so impressed with Jim Gillespie's leadership and the entire Coldwell Banker team," said A. Serhan Oktay, partner, BEMA Group Incorporated. "Along with my partners M. Abdullah Ciftci and Serhan Saripinar, I look forward to introducing the Coldwell Banker brand to Turkey and Northern Cyprus, in order to take advantage of the robust market and the growing opportunity. We will leverage the strength and network of the Coldwell Banker system to build our success."

For more information, visit www.coldwellbanker.com.

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