MEDIA ALERT * UPDATED RESULTS * MEDIA ALERT TWO-DAY TOTAL OF THE JEWELRY PORTION OF

THE COLLECTION OF ELIZABETH TAYLOR

EXCEEDS $137 MILLION
THE MOST VALUABLE SALE OF JEWELRY IN AUCTION HISTORY CONCLUDES AFTER TWO MARATHON SALES SESSIONS ON DECEMBER 13 AND 14 THE BURTON WEDDING BANDS FETCH $1 MILLION AFTER A 15-MINUTE BIDDING BATTLE New York The second day of auctions devoted to the jewelry collection of Elizabeth Taylor achieved US$ 21.3 million on December 14, and was 100% sold by lot. This brings the combined total for the sales of fine jewelry from the Collection to US$ 137,235,675 (87,830,832/ 105,671,470) -- making it not only the most valuable private collection of jewelry ever offered at auction, but also the most valuable sale of jewelry in auction history. The previous evenings results of $115.9 million set a frenzied pace at the second day of the four-day auction series, with an added element of competition from scores of clients bidding online from around the world. The spectacular results of the Evening Sale of Elizabeth Taylors iconic jewels sparked a surge of interest from collectors around the world. It took eight hours and three auctioneers to sell 189 more jewels from Elizabeth Taylors storied collection, noted Franois Curiel, International Director of Jewelry at Christies. The atmosphere was electric from the very first to the last lot, with collectors from Asia, the Middle East, Europe and America chasing each individual jewel with a tenacity never seen before. All the jewels offered greatly exceeded their estimates, sometimes by much as a hundred times. This brings the total value of Miss Taylors jewelry collection to $ 137.2 million and sets a new record for the largest jewelry sale ever presented at auction. The top lot of the Day Sale sessions was an exquisite antique natural pearl and diamond necklace dated circa 1860 that Richard Burton gave to Elizabeth Taylor in 1968. Featuring a pear-shaped pearl drop reminiscent of her historic La Peregrina pearl, the antique necklace was chased by multiple bidders who drove the final purchase price to $1.48 million. In similar fashion, the most anticipated items of the day The Burton Wedding Bands became the subject of a spirited bidding battle between a bidder on the phone and in the room. The gold and diamond rings (pictured above),

which were given to Elizabeth Taylor by Richard Burton upon their marriages in 1964 and 1975, were estimated at $6,000-8,000. The final sale price was US$ 1,022,500. We are humbled and gratified by these results which are a testament to the publics overwhelming affection for Elizabeth Taylor and her incredible legacy, said Marc Porter, Chairman of Christies Americas. The sale of Miss Taylor and Richard Burtons wedding bands for over $1 million after an epic 15-minute bidding war was a fitting grand finale to the live auction portion of this amazing jewelry collection. We look forward to more great results this week, as the auctions continue with sales of Elizabeth Taylors fashion, accessories, decorative arts and memorabilia collections. Please find an updated Combined Top Ten for the December 13 and 14 Jewelry sales attached. Results of The Icon & Her Haute Couture, The Evening Sale, will be announced separately.
Remaining Sale Dates: The Collection of Elizabeth Taylor
The Online-Only Auction The Icon and her Haute Couture, Evening Sale Fashion and Accessories (Sessions II, III & IV) Fine and Decorative Art & Film Memorabilia, including costumes Impressionist & Modern Art December 3-17, 2011 December 14, 2011 December 15, 2011 December 16, 2011 February 2012, Christies London

In keeping with Elizabeth Taylors life-long devotion to humanitarian causes, a portion of profits generated by admissions, events and select publications related to the sales will be donated to The Elizabeth Taylor AIDS Foundation (ETAF). Founded in 1991, ETAF provides funding to AIDS service organizations throughout the world to assist those living with HIV and AIDS.
About Christies
Christies, the worlds leading art business had global auction and private sales in the first half of 2011 that totaled 2.0 billion/$3.2 billion. In 2010 it achieved global auction and private sales of 3.3 billion/$5.0 billion. Christies is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour. Founded in 1766 by James Christie, Christie's conducted the greatest auctions of the 18th, 19th and 20th centuries, and today remains a popular showcase for the unique and the beautiful. Christies offers over 450 sales annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christies has 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai and Hong Kong. More recently, Christies has led the market with expanded initiatives in emerging and new markets such as Russia, China, India and the United Arab Emirates, with successful sales and exhibitions in Beijing, Mumbai and Dubai *Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing fees or application of buyers or sellers credits.