Whom You Know: JAMES MURDOCH NOMINATED TO THE BOARD OF SOTHEBY’S

Wednesday, March 3, 2010

JAMES MURDOCH NOMINATED TO THE BOARD OF SOTHEBY’S

Michael Sovern, Chairman of Sotheby’s, announced that James Murdoch had been unanimously nominated by the Board of Directors of Sotheby’s to stand for election as a Director of Sotheby’s at the Company’s May 6, 2010 Annual Meeting of Shareholders.

“James has impressive experience in several important areas that will be immensely valuable to Sotheby’s” said Mr. Sovern. “His knowledge of Asia and his media perspectives which include his sophisticated understanding of digital media and the Internet are a good fit with Sotheby’s own longer term strategic goals. We are delighted that James has agreed to join the slate of Directors standing for election to our Board”.

Mr. Murdoch was appointed Chairman and Chief Executive, Europe and Asia, News Corporation in 2007, with responsibility for the strategic and operational development of News Corporation’s television, newspaper and related digital assets in Europe, Asia and the Middle East. Mr. Murdoch is Chairman of the UK pay TV operator BSkyB and is a Director of News Corporation. He served as Chief Executive Officer of BSkyB from 2003 to 2007 and was previously Chairman and CEO of STAR, News Corporation’s Asian broadcast business. Since 2009, Mr. Murdoch has served as a Non-Executive Director on the Board of GlaxoSmithKline plc, the international pharmaceuticals company.

James Murdoch said: “I am delighted to have been offered the opportunity to join the Sotheby’s Board. Sotheby’s is renowned for its expertise, its customer service and, of course, art of the highest quality. I look forward very much to working with them as they expand their business into new markets and explore new ways of engaging with clients."

Mr. Murdoch’s fellow directors on the Board will be Michael Sovern, Chairman, the Duke of Devonshire, Deputy Chairman, William Ruprecht, President and Chief Executive Officer, Robin Woodhead, Chairman, Sotheby’s International, John Angelo, Lord Michael Blakenham, Allen Questrom, Don Stewart, Robert Taubman, Diana Taylor and Dennis Weibling. The Sotheby’s shareholders will vote for Directors and other matters at the Company’s Annual Meeting in New York City in May.

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Sotheby’s is a global company that engages in art auction, private sales and art-related financing activities. The Company operates in 40 countries, with principal salesrooms located in New York, London, Hong Kong and Paris. The Company also regularly conducts auctions in six other salesrooms around the world. Sotheby’s is listed on the New York Stock Exchange under the symbol BID.

http://www.sothebys.com/

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