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Sotheby’s International Realty Continues Worldwide Growth

March 12, 2010

On Wednesday, March 10, Sotheby’s International Realty announced the signing of an exclusive 25-year licensing agreement for the United Kingdom with Countrywide, the U.K.’s largest estate agency and property services group .

Countrywide will create a new subsidiary called United Kingdom Sotheby’s International Realty to operate its new luxury brokerage business in the United Kingdom and Channel Islands. As part of the transaction, Countrywide acquired the Sotheby’s International Realty – London office in Mayfair, previously owned and managed by NRT LLC. The office will be renamed London Sotheby’s International Realty.

This is a critical step in our worldwide growth plans and one we are very proud to take with Countrywide, a company that shares our dedication to quality. Please see the attached press release for more information on this important announcement and join me in welcoming United Kingdom Sotheby’s International Realty to our network.

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