Fast-Growing, Luxury Real Estate Firm Morgan Lane to Acquire Pacific Union Real Estate

Combined Companies Will Have More Than $2.2 Billion in Sales in 2009 Creating
Bay Area Real Estate Powerhouse with More than 430 Real Estate Professionals
SAN FRANCISCO--(Business Wire)--

Pacific Union GMAC Real Estate (www.pacunion.com), one of Northern California`s
leading luxury real estate brands is being acquired by the principals of Morgan
Lane Marin, Inc. (www.morganlanemarin.com), a fast-growing boutique real estate
firm with operations in Marin county. The sale is expected to close in August.

Bucking the odds in a highly volatile, recession-stymied real estate market,
Morgan Lane Marin has grown meteorically, from just $52 million in sales in 2006
to $315 million in 2008.

Combined, the two entities will have 17 offices, more than 430 real estate
professionals and 2009 sales volume projected to be $2.2 billion, according to
Mark A. McLaughlin, CEO of Morgan Lane.

The goal of the combined operations is to become the Bay Area`s leading luxury
real estate brand - an objective McLaughlin said will be achieved by retaining
and recruiting the industry`s top-producing professionals and leveraging
resources and international marketing programs of Christie`s Great Estates.

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