Nominees to Sotheby’s Board Announced

NEW YORK CITY – The Board of Directors of Sotheby’s Holdings has recommended 16 nominees to serve as directors of Sotheby’s Holdings for the coming year. As provided in Sotheby’s Holdings Articles of Incorporation, four nominees will be voted on by the Class A shareholders and twelve nominees will be voted on by the Class B shareholders.

Sotheby’s 2000 Annual Meeting of Shareholders for the election of Directors and the conduct of certain other business has been rescheduled for August 3. The meeting will take place at the Company’s Corporate Headquarters in New York City.

The four nominees to be voted on by the Class A shareholders are: George Blumenthal, Steven Dodge, Henry Jarecki and Brian Posner. The 12 nominees to be voted on by the Class B shareholders are: Conrad Black, Viscount Blakenham, Max Fisher, the Marquess of Hartington, Henry Kravis, Jeffrey Miro, Sharon Percy Rockefeller, William Ruprecht, Michael Sovern, Robert Taubman, Robin Woodhead and Deborah Zoullas.

Michael Sovern, Chairman of the Board of Sotheby’s Holdings, commented, “Ambassador Walter J.P. Curley has agreed to become Chairman of Sotheby’s International Advisory Board. When Walter advised us of his decision not to stand for re-election, we were delighted that he was nevertheless willing to take on this new position.”

Walter served as U.S. Ambassador to Ireland form 1975-1977 and U.S. Ambassador to France from 1989-1993. Among his many current involvement’s, he is a director of the France Growth Fund, a trustee of the Frick Collection, a member of the Council on Foreign Relations and honorary chairman of the French-American Foundation.

“We are grateful that his wisdom and experience will continue to be available to us, in particular his in-depth knowledge of France as we plan for the opening of the Paris market over the next several months,” Sovern continued.

George Blumenthal has been the chairman, and was a founder, of NTL Incorporated, a provider of business and residential telecommunications services in the United Kingdom, Republic of Ireland, France and Switzerland since its formation in April 1993. He has also been the Chairman, and was a founder, of CoreComm Limited, a local, long distance, and internet services provider in the United States, since its formation in march 1998.

Blumenthal was chairman and a founder of Cellular Communications, Inc., which was merged into Airtouch Cellular Inc. in 1996. Blumenthal was also chairman and a founder of Cellular Communications of Puerto Rico, which was merged into SBC Communications Inc. in 1999.

Dodge has served as the chairman of the board of directors, president and chief executive officer of American Tower Corporation, an owner and operator of broadcast and communications towers throughout the United States, since its formation in July 1995. He previously was the chairman of the board of directors, president and chief executive officer of American Radio Systems, the former parent corporation of American Tower Corporation. Dodge also serves as a director of Weblink Wireless, Inc., TD Waterhouse Group, Inc. and Nextel Partners, Inc.

Jarecki has been chairman of the board of directors of the Falconwood Corporation, an investment banking company, since 1969 and is currently assistant clinical professor of psychiatry at the Yale University School of Medicine. He was the chairman of Mocatta Metals Corporation until its sale in 1986 to Standard Chartered Bank, PLC and the chairman of MovieFone, Inc. until its sale in 1999 to America Online, Inc.

Previously, Dr Jarecki was a director of the National Futures Association and of the Futures Industry Association. He currently serves as a director of the International Liaison Committee for Food Corps Programs, Rural Voice Inc., and the Institute of International Education.

Brian Posner is co-founder, managing partner and chief investment officer of Hygrove Partners, LLC, an investment management company formed in May 2000. From 1997 to December 1999, he was a managing director, co-chief investment officer, director of research, and portfolio manager at Warburg Pincus Asset Management. From 1987 through 1996, Posner was a vice president and portfolio manager at Fidelity Investments. He currently serves as a member of the board of visitors for the Weinberg College of Arts and Sciences at Northwestern University.