Christies International Real Estate is the new name for worlds leading network of luxury property specialists

The change from Christies Great Estates creates clarity in the global market and strengthens the ties between Christies art and real estate businesses

January 11, 2011 Christies, the worlds leading art business, has today announced a corporate name change for its exclusive property brand Christies International Real Estate, formerly Christies Great Estates. The prime and super-prime sectors of the property market – where Christies International Real Estate operates exclusively – have a global clientele. The name change will instill in these consumers a more immediate grasp of the companys mandate and clarify that Christies and its real estate arm are one and the same.

Christies International Real Estate is the only real estate network wholly owned by a fine art auction house. The network is uniquely positioned to follow the footprint of its parent company, Christies, into the growing markets of the Middle East, Russia, and China, as well as established economies across the world, most notably North and South America and Europe. The new name further underscores that the values that distinguish Christies?commitment, expertise, integrity, discretion, and five-star customer service are likewise embedded in the companys luxury residential property specialists.

The Christies International Real Estate rebrand will be spearheaded by Lisa King, Chief Operating Officer of Christies and Chairman of Christies International Real Estate, and Neil Palmer, Chief Executive Officer and architect of the real estate businesses global strategy. Mr. Palmer brings to his position a broad range of real estate experience that spans the residential and commercial sectors in Asia, the Middle East, and the United Kingdom. Ms. King comes from a three-generation family business in property development and, prior to joining Christies, practiced real estate law.

Christies International Real Estate affiliates represent some of the most prestigious trophy properties in the world, which include estates, resort properties, second and third homes, and super-prime new-build developments, all priced above US$1 million. Clients have included Lord Andrew Lloyd Webbers Trump Tower Residence in New York City; Lyons Demesne, the historic Irish landmark fully restored by Dr. Tony Ryan; Ingmar Bergmans island retreat in Sweden; and the Astor Beechwood Mansion in Newport, Rhode Island. Among the most valuable properties currently in the Christies International Real Estate portfolio are Palais Montmorency on Avenue Foch in Paris, France, valued in excess of US$100 million, and Cornwall Terrace, the historic Grade I?listed Regency terrace in The Regents Park, London, which was recently voted the most significant luxury property development in the United Kingdom.

Lisa King comments: This change of name confirms Christie?s continued commitment to extend its real estate reach by creating a closer alignment between our art and real estate businesses. The new name best positions our valued and highly qualified network of Affiliates to capitalize on our global market presence and the opportunities presented by our high- quality client base.

Neil Palmer comments: With our Affiliate network continuing to rapidly expand globally, this name change reinforces what we do and the high standard of service that we deliver to participants in the luxury residential property market, whether they are buyers or sellers of the most luxurious, the most significant, or the most glamorous homes around the world.

About Christies International Real Estate

Christies, originally founded in 1766 by James Christie, pursued an innovative real estate venture in 1995 by acquiring Great Estates, a luxury real estate network founded in 1987 by Kay Coughlin. Christies International Real Estate is an Affiliate network by invitation only to the worlds most proven and qualified real estate specialists. The company has central hubs in London and New York; field offices in Beverly Hills, California, and Palm Beach, Florida; an operations centre in Santa Fe, New Mexico; and circa 130 Affiliates in Europe; North, Central, and South America; and the Caribbean as well as Asia, Africa, and Oceania. In 2010, new Affiliates were signed in Mallorca, Spain; Milan, Italy; Stockholm, Sweden; Bordeaux, France; Luxembourg; Cancun; Cayman Islands; San Juan, Puerto Rico; and Toronto, Canada, as well as in the U.S., including Stowe, Vermont; Nantucket and Boston, Massachusetts; and Guildford and Ridgefield, Connecticut.