HONG KONG and SINGAPORE - Christie's Fine Art Storage Services (CFASS), provider of customized storage solutions for fine art, antiques and collectibles, will open a new ultra-high-security facility at The Singapore FreePort in January 2010. This long-term offering undertaken in conjunction with The Singapore FreePort Pte. Ltd. underscores Christie's commitment to Singapore and a continued interest in Asian investment.

The Singapore FreePort, supported by the Singapore Economic Development Board (EDB), is the largest freeport dedicated to the storage of fine art and high-value collectibles in the world, and is the first in Asia. Its shareholders include the Singapore National Arts Council and the National Heritage Board of Singapore.

Through the long-term contract between CFASS and the Singapore FreePort Pte Ltd., the CFASS Singapore facility will comprise roughly 40 percent of the FreePort's Phase 1 floor area available for lease, out of approximately 242,000 square feet of gross floor area, with an option to add capacity in Phase 2 when it is completed in early 2014.

Located at Changi Airport, CFASS Singapore at The Singapore FreePort allows for the rapid and safe transfer of fine art, collectibles, and other valuables. Offering cutting-edge security technology, strong rooms and storage solutions ranging from single-item storage for individual items and small collections to fully-managed exclusive units ranging from 108 square feet to very large spaces, the world-class facility of CFASS Singapore at the Singapore FreePort offers services and infrastructure that Christie's believes to be unmatched anywhere in the world.

Andy Foster, Chief Operating Officer of Christie's International and President of
Asia, said the new facility would make "the perfect partner for international fine art collectors, dealers, institutions and others looking for a safe, stable and secure location to store and trade valuable collections."

Heralding the arrival to Singapore of Christie's Fine Art Storage Services, Alain
Vandenborre, President and co-founder of The Singapore FreePort Pte. Ltd. said: "We are very pleased and honored by Christie's decision to choose The Singapore FreePort to be their dedicated Asian Fine Arts Storage Services facility. It is a significant endorsement for our business model. The Singapore Freeport will be the ultimate Fort Knox state-of-the-art facility for the finest world collections and will strengthen
Singapore's reputation as one of the world's leading and secured financial centers.'

Vandenborre continued: "With a round-the-clock free-trade zone made accessible to its clients, we will provide the ideal environment for secured and tax-free storage,
display and transactions. The FreePort will be one of the first buildings in Singapore to fully integrate systems for solar power, water recycling and energy efficiency, utilizing landscaping features and other high technology for climate-control systems."

Dr. Beh Swan Gin, Managing Director of the Singapore Economic Development Board, said, "This partnership is a strong testament to Singapore's attractiveness as a high-trust location for arts businesses to meet the growing demand for fine art and collectibles in Asia. We look forward to welcoming more arts businesses and collectors to our shores."