Market Overview

Long & Foster Real Estate, Nation's #1 Independent Real Estate Company, Awarded Additional Markets to Expand Luxury Home Services

Largest Affiliate in the Christie's International Real Estate Network Increases Number of Exclusive Territories by a Third

Affiliates Granted Use of Christie's Brand in Assigned Geographies and for Properties Valued at US$1 Million and Above

NEW YORK, Jan. 15, 2013 (GLOBE NEWSWIRE) -- The largest privately-held real estate company in the United States, Long & Foster Real Estate, Inc., dramatically increased its range of exclusive market coverage for use of the Christie's brand to market luxury homes valued at US$1M and above. The company, the exclusive Affiliate of Christie's International Real Estate already assigned the network's most vast market coverage, increases that range by a third. The company now holds claim to the states of Delaware and Maryland, including Annapolis; Bucks County in Pennsylvania; Washington, D.C.; Berkley, Morgan, and Jefferson counties in West Virginia, and the Lynchburg, Roanoke, and Hampton Roads areas of Virginia.

"Long & Foster has been a powerful brand ambassador throughout its affiliation with Christie's International Real Estate," says Bonnie Stone Sellers, Chief Executive Officer. "We are pleased to be able to increase their market coverage on the East Coast of the United States to serve discerning buyers and sellers of luxury real estate.

"Christie's International Real Estate is the global authority on the effective marketing of fine properties. This latest expansion provides Long & Foster sales associates with the well-earned recognition of being the authority in their areas in effectively marking fine homes. It also increases the already high value of service our sales associates provide to buyers and sellers of high-end properties," said P. Wesley Foster, Jr., president and CEO, The Long & Foster Companies, Inc., parent company of Long & Foster Real Estate, Inc.

"Long & Foster is further developing its luxury division by putting our brand to even more effective use in this all-important high-value niche market," says Kathleen Coumou, Senior Vice President of Christie's International Real Estate. "The company is offering its high-net-worth clients, in considerably more markets, our programs and services to promote and sell their fine homes."

Long & Foster Real Estate, Inc. has been among the most active brokerages in the Christie's International Real Estate network. Properties represented by the company's top agents were sold through the Bespoke Marketing Program, the world's most exclusive marketing innovation for high-value real estate worldwide. Britland Farms, located on Maryland's Eastern Shore, was listed at US$10.15 million and sold in September 2008; Doe Run, in Unionville, Pennsylvania, was listed at US$15 million and sold in December 2008; and Evermay, in Washington, D.C., was listed for US$25.9 million and commanded a price that ranks among the highest ever achieved in the area. Evermay closed in July 2011. Currently enrolled in the program is Arbor Hill, in Fort Washington, Pennsylvania, listed for US$25M. Properties in the Bespoke Marketing Program benefit from heightened marketing exposure at Christie's auction venues and art events around the globe.

Extraordinary Properties, the in-house publication for luxury real estate offered for sale by Long & Foster Real Estate, Inc., reaches more than 600,000 luxury consumers annually and regularly features international properties from the Christie's International Real Estate network as well as editorial dedicated to news from Christie's. Long & Foster was also the host Affiliate for the Global Annual Conference in Washington, D.C. in 2008.

Lisa Bessone, Christie's International Real Estate, lbessone@christies.com +1 505 603 8039

Christie's International Real Estate is wholly-owned by London-based Christie's the world's leading art business, founded in 1766 by James Christie. Christie's International Real Estate is an invitation-only affiliate network composed of the world's most proven and qualified luxury real estate specialists. The company has central hubs in London, Hong Kong, and New York; along with field offices in Beverly Hills, Chicago, and Palm Beach. With 127 Affiliate Brokerages operating 950 offices throughout Europe; North, Central, and South America; and the Caribbean, as well as Asia, Africa, and Oceania, Christie's International Real Estate is the leading global marketer of luxury residential properties. ( www.christiesrealestate.com)

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