Sotheby's International Realty Affiliates, Inc. Reaches Milestone and Files UFOC

Sotheby's International Realty Affiliates, Inc. Reaches Milestone
and Files UFOC
Brand Moves Ahead With Affiliate Membership Sales Effort 


PARSIPPANY, N.J., July 7  /PRNewswire/ -- Sotheby's International Realty
Affiliates, Inc. today announced that it has filed its Uniform Franchise
Offering Circular (UFOC) in the states requiring registration and that it is
now authorized to sell affiliate memberships in 47 states.  This filing enables
leading real estate firms within those states to formally apply for affiliate
membership consideration with the Sotheby's International Realty(R) network.  
Registration is still pending in three remaining states, including Maryland,
Minnesota and North Dakota.  Companies interested in membership within the
states where affiliation is permitted can contact the Sotheby's International
Realty organization for information and/or an application at .

"Our UFOC filing marks the second genesis of this brand," said Mike Good,
president & CEO, Sotheby's International Realty Affiliates, Inc.  "The
Sotheby's International Realty name has been synonymous with luxury, and now we
will continue that legacy by creating value for our prospective affiliates. We
are working to benefit every facet of our prospective affiliates' local
brokerages -- from their back-office operations and marketing efforts to their
management, recruiting, education and development needs.  It's our goal to
align with affiliates who will uphold the brand's name through excellent
customer service and market strength which will be mutually beneficial to the
brand and its affiliates."

"We are very enthusiastic about this milestone as we can formally address the
incredible amount of inquiries we have had from interested potential
affiliates," said Rich Green, senior vice president, membership sales,
Sotheby's International Realty Affiliates, Inc.  "We have collected an
extensive list of leading firms interested in affiliation, and we are now in
position to determine whether they meet our eligibility requirements."

About Sotheby's International Realty Affiliates, Inc.:

The Sotheby's International Realty(R) brokerage network was founded in 1976 and
is currently comprised of approximately 155 affiliates and 15 company-owned
brokerage offices in the United States and additional offices around the world.
 In June 2004, Sotheby's International Realty Affiliates, Inc. began offering
membership in the Sotheby's International Realty(R) franchise system to select
real estate brokerage companies.  Sotheby's International Realty affiliates
deliver exclusive programs and marketing for their clients' full spectrum of
properties and are recognized especially for their focus on the luxury
residential real estate market.  The brokerage operation is currently comprised
of independently owned and operated offices as well as offices owned and
operated by NRT Incorporated, a subsidiary of Cendant Corporation (NYSE:CD).
Cendant added the Sotheby's International Realty name to its family of brands
in February 2004 pursuant to a long-term license agreement with Sotheby's
Holdings, Inc. (NYSE: BID; LSE; STBA). Today, the real estate brand remains
connected to the venerable Sotheby's auction house through a strategic alliance
and is dedicated to providing the highest caliber of service to its clients. 

DATASOURCE: Sotheby's International Realty Affiliates, Inc.



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