Signed a master franchise agreement with PT. Citra Bangun Properti for development of franchised real estate offices throughout Indonesia. The signing of this agreement marks the continuing expansion of the Coldwell Banker Franchise throughout Asia. The Indonesia affiliate is part of the international Coldwell Banker family

                                      Indonesian Franchise Business – Opportunities now in Indonesia

Coldwell Banker Real Estate Corporation ( Coldwell Banker ®) has signed a master franchise agreement with PT. Citra Bangun Properti for development of franchised real estate offices throughout Indonesia. The signing of this agreement marks the continuing expansion of the Coldwell Banker Franchise throughout Asia. The Indonesia affiliate is part of the international Coldwell Banker family that also includes the Philippines, Singapore and Western Europe. The timing is right for expansion and affiliating with the Coldwell Banker organization will offer us the products, systems and support needed to become a global company, Supported by the equity of the Coldwell Banker brand name and the rich tradition it symbolizes, we feel it was a perfect fit for our organization and goals. We are pleased to continue our expansion into the Indonesia market and build a relationship with PT. Citra Bangun Properti, Our continued and steady global expansion is consistent with our strong leadership position in the residential and commercial markets and illustrates our commitment to the high-caliber franchise holders that comprise the Coldwell Banker® system throughout the world. We are confident that PT. Citra Bangun Properti will achieve the same success in the Indonesian market that Coldwell Banker franchisees already enjoy in our existing markets. Coldwell Banker Affiliates of Indonesia has already begun establishing their organization and expect to begin franchising within the next three to six months. Today, we are staffing our master franchise and speaking to independent brokers that will see the largest benefits by franchising with Coldwell Banker Affiliates of Indonesia. The Coldwell Banker Commercial® division is one of the largest commercial franchise operations with over 400 affiliates offering clients comprehensive buying, selling, leasing, acquisition, disposition and management services.

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