Engel & Voelkers Florida Opens Master Franchise Operation As Part Of An On-going Global Expansion

Serves as Headquarters for Statewide Franchises

(Friday, April 27, 2007) - Engel & Voelkers Florida, one of the world's most respected names in upscale international real estate, announces the summer opening of a Naples office that will serve as statewide headquarters for a new master franchise operation.

The 3,000-square-foot office space, located at 720 5th Avenue South, is scheduled to open in June 2007. The nearly six-month, $150,000 renovation of the second-story site will provide support for franchise offices across the state. The headquarters office will oversee marketing and public relations programs for statewide operations as well as host seminars and provide services for an expanding network of Florida-based franchises specializing in exclusive residential real estate listings. The first of several franchise sites affiliated with Engel & Voelkers Florida will open throughout this year and will feature the distinctive boutique-style design sported by Engel & Völkers Group real estate offices found in strategic locations worldwide.

The opening of this new Southwest Florida headquarters site signals the addition of a new region to the Engel & Völkers Group's growing portfolio of global locations that includes the Hamptons, England, Ireland, Italy, Chile, Spain, Switzerland and South Africa. The Hamburg, Germany-based Engel & Völkers Group represents a worldwide brand with operations in 24 countries and four continents. Currently, a new franchise opens somewhere in the world every 100 hours.

"Our goal is to open 240 offices within Florida over the next eight to 10 years – all independently owned by our franchisees. We see great potential in Florida and believe the timing is perfect. Both the euro and the pound are strong and Engel & Voelkers is the only company in the market that provides upscale residential real estate locally, as well as worldwide," said Timo Khammash, managing partner and head of franchise distribution for the Engel & Voelkers Florida headquarters office.

The first franchise-owned shops will open in the Southwest and West Coast regions beginning in May. Plans include openings in Punta Gorda, Cape Coral, Sarasota, Fort Myers, Naples,
Ft. Lauderdale, Orlando, Celebration, Miamir and Tampa Bay during the next several months.

Franchisees are immediately aligned with a strong, upscale brand that is prominent throughout major cities and distinguishes itself with highly personalized service. Specially designed training and sales systems, access to a prestigious international property market that offers 24/7 contact worldwide and a standardized, distinctive "shop concept" define and differentiate this prestigious real estate company.

For nearly 30 years, the Engel & Völkers Group has held not only a leading position in the European market but also a prominent position in the global, luxury real estate market representing both buyers and sellers for commercial and residential real estate transactions.

"This high quality worldwide estate-selling network literally opens Naples up to a truly global market, unlike any other existing agency in this area," said Maury Dailey, broker and franchisee of the soon-to-open Engel & Voelkers Naples real estate office.

"At Engel & Voelkers Naples, our goal is to provide the best in service to all of our clients – both buyers and sellers," Dailey added. "We are committed to opening Naples and Southwest Florida to the international market. We know that it's a market on par with some of the finest addresses in the world."

A real estate professional whose career spans more than 30 years, Dailey's achievements include serving as past president of the Marco Island Area Association of Realtors, former board member of the board of directors for the Marco Board of Realtors, vice president of the Florida Association of Realtors and being named Realtor of the Year.

For information about franchise opportunities, contact Timo Khammash at (941) 544-2829 – Timo.Khammash@engelvoelkers.com - or go to www.engelvoelkers.com/florida.

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