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Sotheby’s International Realty (incorporated name: K.K. Urban International Properties), a premier global luxury real estate brokerage firm, as part of its exclusive franchise agreement with Sotheby’s International Realty Affiliates LLC signed on July 19, 2007. It has opened its first office in Tokyo’s Chiyoda-ku, Kojimachi, paving the way for clients to have access to an unprecedented and unrivaled global real estate network.Japan Sotheby’s International Realty will operate as the independently owned franchise of the Sotheby’s International Realty(R) brand, which currently consists of 484 offices in 33 countries. By working with the brand’s more than 9,000 brokerage professionals worldwide, Japan Sotheby’s International Realty is able to offer more than 20,000 luxury property listings around the world to Japan’s real estate market. Meanwhile, the launch also provides domestic and foreign clientele with access to the finest domestic property listings, such as luxury residences in metropolitan Tokyo and Osaka, as well as premium resorts and vacation homes in Karuizawa, Okinawa, and throughout Japan.

The Sotheby’s International Realty brand has brokered some of the world’s top luxury real estate, concentrating on property listings over US$1.5 million. In 2007, the brand recorded more than 10,000 property transactions. With the rapid growth of the affluent class worldwide and the global expansion of the Sotheby’s International Realty network in strategic regions, the number of transactions is expected to rise in the near future.

Alongside its official business launch, Japan Sotheby’s International Realty has formed partnerships with domestic and international financial institutions that have proven track records for working successfully with domestic affluent clientele, and has promoted business partnerships with a major tax accountant network and key groups such as domestic real estate firms. By joining forces with these potent partners, Japan Sotheby’s International Realty will develop a unique and effective business strategy that is unrivaled and unprecedented in Japan.

For affluent clientele of financial institutions, Japan Sotheby’s International Realty will strictly comply with applicable laws in establishing in the future, a framework for providing information related to domestic and foreign luxury real estate to the clients.

Japan Sotheby’s International Realty has begun partnership negotiations with groups such as a major tax accountant network firm, which has a strong well-established affluent clientele base with more than 50 locations domestically. It is anticipated that a partnership agreement centered on clientele introduction is to be reached in the near future.

In the future, Japan Sotheby’s International Realty is scheduled to begin partnering with firms that possess strategic regional presence (ex. Tokyo’s Jyonan area, Kanagawa’s Shonan area, Kansai’s Ashiya/Kobe Yamate area, and other affluent residential regions) as well as those that posess strengths in specific real estate categories. Japan Sotheby’s International Realty has already signed a business tie-up agreement with Tokyu Resort Corporation, the nation’s leader in resort property sales, and has begun partnership negotiations with numerous well-established independent firms that possess unique real estate specialties.

These partnerships mutually benefit both parties by providing business partners with access to the extensive global luxury property listings of the Sotheby’s International Realty brand, while giving Japan Sotheby’s International Realty access to these partners’ top tier domestic listings.

With the recent growth in the number and the individual net-worth of domestic and foreign affluent population, the evolution of real estate has been characterized by the multitude of lifestyles, values, and their needs. These values and needs include the area scenery, quality of the buildings, and the environment, which has led many new clients to look beyond domestic properties or simply investment ambitions. Japan Sotheby’s International Realty anticipates the growth of these needs at the global level and will develop its brokerage business tailored towards this new specialized real estate market.

Finally, as part of its partnership with the world renowned Aman Resorts announced last July, Urban Corporation is expected to develop luxury condominium villas with Aman. Urban is also considering the development of domestic luxury properties to meet the needs of new clients. A strong synergy can be expected as Japan Sotheby’s International Realty will play a key role in the brokerage of such luxury villas jointly developed with Aman Resorts and other luxury developments by the Urban Corporation.

Japan Sotheby’s International Realty has dealings with Standard Chartered Bank (based in London, UK), a financial institution with a strong presence centered in Asia, Africa, and the Middle East region, and Suruga Bank, which has developed unique strategies that include personal financing and credit card businesses.

For more information, please visit http://www.urban.co.jp/english/ir/

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, the world’s largest real estate franchisor, entered into a long-term strategic alliance with Sotheby’s Holdings, Inc. (NYSE:BID). The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Sotheby’s International Realty Affiliates LLC, a subsidiary of Realogy. Affiliations in the Sotheby’s International Realty 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, please visit http://www.sothebysrealty.com

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