Sotheby's International Realty(R) Network Opens First Office in Greece

PARSIPPANY, N.J. and GLYFADA, GREECE — Sotheby's International Realty Affiliates LLC today announced the opening of Greece Sotheby's International Realty.

The office is owned by Regency Real Estate S.A., an affiliate of First Mediterranean Investments, which signed an exclusive 25-year licensing agreement for Greece with the Sotheby's International Realty brand this year.

George Koukouzelis serves as chief executive officer of First Mediterranean Investments, Constantinos Kaliakatsos is chief executive officer of Greece Sotheby's International Realty and Aggeliki Liakos is the firm's chief operating officer.

"Greece Sotheby's International Realty is well-positioned to serve the most elegant and expensive areas in Greece," said Michael R. Good, president and chief executive officer, Sotheby's International Realty Affiliates LLC. "The Greek market now has the ideal combination of an international leading brand managed by local experts and backed by a strong, established parent company."

Kaliakatsos believes the new firm fulfills the market's need for quality international real estate services. "Right now there is an opportunity for high-quality, international services that complement the growing number of high-specification properties and properly address the needs of clientele who are seeking the finest real estate available either for owner-occupancy or secure investment," he said. "What sets Greece Sotheby's International Realty apart is its local knowledge, access to Greece's distinctive clientele, exceptional service and the brand's powerful marketing and referral programs."

The Sotheby's International Realty network has more than 9,000 sales associates in more than 470 offices in the U.S. and 29 other countries and territories. Listings from Greece Sotheby's International Realty will be marketed on both the sothebysrealty.com global Web site as well as the sothebysrealty.gr local Web site. In addition to the referral opportunities and great exposure generated from these sources, the firm will benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs.

Greece Sotheby's International Realty will provide service and expertise to clients throughout Greece. The office is located at 93 Poseidonos Avenue, Glyfada 16674. The phone number is +30 210 9681070.

For more information on First Mediterranean Investments, please go to: www.firstmediterranean.com/

About Sotheby's International Realty Affiliates LLC

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, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC 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.

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