Sotheby's International Realty Brand Enters Lithuania

Sotheby's International Realty Brand Enters Lithuania

PARSIPPANY, NJ and VILNIUS, LITHUANIA - (Marketwire - Oct 22, 2012) - Sotheby's International Realty Affiliates LLC today announced its luxury real estate services are available for the first time in Lithuania with the opening of Baltic Sotheby's International Realty in the capital city of Vilnius.

The Lithuania office is owned by Vestards Rozenbergs, Leonid Kil, Ilze Mazurenko, Paulius Gebrauskas and Marius Bružas. Rozenbergs, Kil and Mazurenko opened the first Baltic Sotheby's International Realty office in Riga, Latvia, in March 2010, followed by openings in the Baltic Sea resort town of Jurmala that year and Talinn, Estonia, in July 2011. Gebrauskas and Bružas also serve as managing partners for the Lithuania office.

"Our continued expansion across the Baltic states underscores our commitment to providing access to our network's exclusive real estate services in this unique territory, which holds great interest to the important neighboring Commonwealth of Independent States and Eastern Europe markets," said Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC. "Lithuania is the largest of the three Baltic States with a growing luxury market in the historic capital city of Vilnius and vibrant areas of Kaunas, Klaipeda, Palanga, Nida and Druskininkai. We look forward to growth in this market under the leadership of Vestards and his team of seasoned entrepreneurs and sales professionals."

"Baltic Sotheby's International Realty combines strong client relationships at home and abroad with a professional infrastructure and sales agents with strong local knowledge," said Rozenbergs. "In addition to providing exceptional service at a variety of price points, with the introduction of the Sotheby's International Realty brand to this territory, we hope to further enhance the image of the Baltic States as a luxury real estate destination on an international scale with access to a worldwide network of offices, global contacts and association with the prestigious Sotheby's Auction House."

The Sotheby's International Realty network currently has more than 12,000 sales associates located in approximately 625 offices in 44 countries and territories worldwide. Baltic Sotheby's International listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's agents and clients benefit from an association with the Sotheby's auction house and worldwide Sotheby's International Realty marketing programs.

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. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global provider of real estate services. In February 2004, Realogy 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. 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.

Contacts:

David Russell
Director, International Marketing and Public Relations
Sotheby's International Realty Affiliates LLC
Thorpe Hall, Robin Hoods Bay
YO22 4TT, United Kingdom
+44208 123 1985

Paulius Gebrauskas
Responsible Broker Baltic Sotheby's International Realty
Gedimino pr. 35,
Vilnius, 01109
Lithuania,
+370 520 55118
balticsothebysrealty.com

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