Sotheby’s International Realty® Brand Enters Chile

Dear Sotheby’s International Realty^® Brokers,

I am proud to announce the expansion of our brand’s presence in South America with the opening of Chile Sotheby’s International Realty.

The firm is led by Javier Contreras, chief executive officer, and will serve the luxury residential real estate market throughout Chile.

Please see the attached press release for additional information and join me in welcoming Chile Sotheby’s International Realty to our brand.

Sincerely,

Philip White

President and Chief Executive Officer

Sotheby’s International Realty Affiliates LLC