PARSIPPANY, N.J., (August 6, 2007) –Coldwell Banker Real Estate LLC today announced the signing of a master franchise agreement with Betna for Real Estate Marketing to expand its Coldwell Banker^® franchising rights into 23 countries in Central and Eastern Europe, including Russia. Betna for Real Estate Marketing currently operates as Coldwell Banker Middle East and holds master franchise rights for 12 pan-Arab countries including Egypt, where it is headquartered.

 

Countries included under this expansive master franchise agreement include: Albania, Algeria, Belarus, Bosnia, Bulgaria, Croatia Cyprus, Estonia, Georgia, Kazakhstan, Latvia, Lithuania, Macedonia, Montenegro, Oman, Russia, Serbia, Slovakia, Slovenia, Turkmenistan, Ukraine, Uzbekistan and Yemen.

 

Betna for Real Estate Marketing is a collaboration of partners with a diverse background including experience in banking and investment, property management, and real estate development.

 

"This agreement with builds on our already existing successful master franchise relationship and will enable them to seamlessly introduce our brand to a very important and vast geographic area," said Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate LLC. "We have made international growth one of our key initiatives, and this agreement with Betna for Real Estate Marketing is another positive step in Coldwell Banker's expansion."

 

"Over the past several years, we have had the opportunity to make the

Coldwell Banker brand come to life throughout the Middle East," said Mohamed Abdalla Moawad, president, Betna for Real Estate Marketing. "We are confident that working with Jim Gillespie and the entire Coldwell Banker team will enable us to introduce the Coldwell Banker brand into over 20 additional countries and further strengthen the global network of which we are such a big part."