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Smart, Strategic Growth — Cartus Acquires Primacy Relocation

I am proud to share the news that Cartus, our third-party relocation provider, has acquired Primacy Relocation, a prominent relocation and global assignment management company based in Memphis. This highly strategic acquisition for Cartus will enhance domestic operations, substantially broaden global capabilities and firmly position it as the leading relocation services provider to the government sector.

The benefit to our company and our customers is that we are combining two of the best relocation services providers in the industry. Both organizations share a proven commitment to delivering superior customer service. Primacy employs approximately 700 professionals operating in 25 offices worldwide. Primacy serves a number of U.S. government agencies and Fortune 500 and 1000, Global 100, as well as smaller emerging-market organizations.

On a larger scale, this acquisition positions Coldwell Banker for strategic growth across our international and domestic businesses. Throughout this economic downturn, we have communicated our focus on the long-term horizon. We believe this announcement speaks volumes about our ongoing commitment to pursuing smart growth opportunities, and we look forward to continued growth in 2010 and beyond.

Regards,

Steve Scarpone

305-898-5556

SteveScarpone@msn.com