Beverly Hills-Based Teles Properties Bucks Real Estate Industry Trend with Unprecedented Growth and Company Expansion to Brentwood.

In Under One Year, Company Outranks Competitors in Several MLS[R] Categories, Including Sold Price to List Price, Average Days on Market and Agent Productivity

LOS ANGELES -- As many residential real estate companies continue to downsize due to drastically decreased sales volumes, Beverly Hills-based Teles Properties sustains its year-one growth momentum, announcing the opening of its new Brentwood office. Additionally, according to figures from MLS[R]/CLAW for the period of January 1, 2008 to September 17, 2008, Teles Properties has ranked number one among its Los Angeles-based residential brokerages in Sold Price to Original List Price; Average Days on Market; and Agent Productivity.

"When we opened our doors in Beverly Hills last November amid a slowing economy, there were many naysayers telling us that launching a new real estate brokerage was a risky endeavor, while we thought it was the perfect timing," said Peter Hernandez, Teles Properties President/COO. "In less than one year, Teles has become a leading brokerage and a fast-emerging player in the high-end marketplace, with impressive sales statistics topping several MLS[R] categories, proving the pessimists wrong. We're proud of our team and look to attract more like-minded, productive agents with experience in the luxury market and a passion for success as we expand to Brentwood."

Teles Properties' Brentwood office will open its doors on November 1, 2008 at 11990 San Vicente Blvd. Like the company's flagship Beverly Hills office, the Brentwood location will provide its agents with superior in-house services such as coaching, marketing, business administration, and technology, allowing them to spend more time focusing on the needs of their clients. Additionally, plans are afoot to open its mortgage company, Teles Financial, and an escrow company at the Brentwood location.

"When we created Teles Properties, we envisioned a new model where hand-picked, productive agents would share extraordinary resources to help foster their success," said Lou Piatt, Teles Properties CEO. "We've achieved that and more, proving that a highly-publicized down market does not determine the fate of an effectively-run business with exceptional personnel. We look to achieve even greater success with the opening of our new Brentwood office, which allows us to expand our service further to the beach communities. Brentwood is Teles' second installment in our plan to expand to key affluent markets in California."

About Teles Properties:

Founded by real estate veterans Lou Piatt, former President of Jon Douglas Company, Peter Hernandez, former President of Coldwell Banker Orange County, and Steve Shull, President of Performance Coaching, Teles Properties employs an innovative model that has proven successful since its launch with the acquisition of close to 40 of Los Angeles' most sought-after agents and scores of high-profile residential listings. The Teles model combines supportive management leadership and higher production standards to create an exceptional working environment for the market's top-performing agents. Each agent has the opportunity to participate in a profit-sharing program and real estate investment opportunities structured to form a dynamic partnership between the company and its employees. The company's headquarters is located at 9811 Santa Monica Blvd. in Beverly Hills, and can be reached by telephone at 424.202.3200 and visited on the Web at www.TelesProperties.com.