For Immediate Release May 23, 2012 Contact: Sung-Hee Park tel. + 1 212 636 2680 spark@christies.

com

CHRISTIES LATIN AMERICAN SPRING SALE TOTALS $27,731,875/17,471,081/ 21,630,863

MATTAS LA RVOLTE DES CONTRAIRES, LEADS SALE AT $5 MILLION AND SETS A WORLD AUCTION RECORD FOR ARTIST
EVENING AND DAY SALES RESULT IN 33 NEW WORLD AUCTION RECORDS

Matta (Chilean, 1911-2002) La rvolte des contraires painted in 1944 WORLD AUCTION RECORD FOR THE ARTIST Estimate: $1,800,000-2,500,000 Price realized: $5,010,500

Carlos Cruz-Diez (Venezuelan b. 1923) Physichromie 164, executed in Paris in April 1965 WORLD AUCTION RECORD FOR THE ARTIST Estimate: $250,000 - 350,000 Price Realized: $722,500

Emilio Pettoruti (Argentinian, 1892-1971) Concierto painted in 1941 WORLD AUCTION RECORD FOR THE ARTIST Estimate: $300,000-500,000 Price Realized: $794,500

New York Christies highly anticipated two-day auction on May 22-23 of Latin American Art totaled $27,731,875, and set 33 world auction records. The spring sale was comprised of 299 lots and was 84% sold by value and 74% sold by lot.

Virgilio Garza, Head of the Latin American Art department, comments: Major records for modern and contemporary Latin American works were set this season. The sale was led by Mattas La rvolte des contraires, which realized $5 million, against the high estimate of $2.5 million, and set a world auction record for the artist, a long overdue recognition for one of the most influential artists of the 20th century. Brazilian works performed exceptionally well and were 100% sold, most notably were works by Ernesto Neto, Iber Camargo, Candido Portinari, Alfredo Volpi, and Vik Muniz. The Day Sale continued with strong bidding across the board and set nineteen new artist records including Alberto Da Viega Guignards Still Life, a record for the artist for a work on paper. In addition to Brazilian works, the demand for Argentinian artists was strong in the morning, led by a fine group of works by Rmolu Maccis Untitled painted in 1964.
About Christies
Christies, the world's leading art business, had global auction and private sales in 2011 that totaled 3.6 billion/$5.7 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 has since conducted the greatest and most celebrated auctions through the centuries providing a popular showcase for the unique and the beautiful. Christies offers over 450 auctions 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. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery. Private sales totaled 502 million / $808.6m in 2011, an increase of 44% on the previous year. Christies has a global presence with 53 offices in 32 countries and 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zrich, and Hong Kong. More recently, Christies has led the market with expanded initiatives in growth 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.

### Images available on request Visit Christies Website at www.christies.com Complete catalogue available online at www.christies.com or via the Christies iPhone app

Latin American Sale New York Tuesday and Wednesday, May 22-23, 2012 Sale no: 2563 Top Ten [All sold prices include buyers premium] Sold: $27,731,875 Lots Sold: 222 Lots Offered: 299 Exchange Rate: 0.63 = $1/ 0.78 = $1 17,471,081 Sold by Lot: 74% 21,630,863 Sold by $: 84%

Lot

Description Matta (Chilean, 1911-2002), La rvolte des contraires, oil on canvas, painted in 1944 WORLD AUCTION RECORD FOR THE ARTIST Joaqun Torres-Garca (Uruguayan, 18741949), Grafismo universal sobre fondo gris, tempera on board laid on panel, painted in 1937 Fernando Botero (Colombian b. 1932), The Street, oil on canvas, painted in 1995 Claudio Bravo (Chilean 1936-2011), Psalterium, oil on canvas, painted in 1998 Candido Portinari (Brazilian 1903-1962), Navio negreiro, oil on canvas, painted in Paris in 1950 WORLD AUCTION RECORD FOR THE ARTIST Fernando Botero (Colombian b. 1932), The Arnolfini (after Van Eyck), oil on canvas, painted in 1997 Emilio Pettoruti (Argentinian, 1892-1971), Concierto, oil on canvas, painted in 1941 WORLD AUCTION RECORD FOR THE ARTIST Carlos Cruz-Diez (Venezuelan b. 1923), Physichromie 164, acrylic inserts mounted on painted wood, executed in Paris in April 1965 WORLD AUCTION RECORD FOR THE ARTIST Miguel Covarrubias (Mexican, 1904-1957), Bather Holding Up Her Kemban, gouache on Masonite, executed circa 1934 Joaqun Torres-Garca (Uruguayan, 18741949), Pintura constructive, oil on canvas, painted in 1930

Estimate ($)

Purchase Price $5,010,500 3,156,615 3,908,190 $1,426,500 898,695 1,112,670 $1,426,500 898,695 1,112,670 $1,142,500 719,775 891,150 $1,142,500 719,775 891,150 $842,500 530,775 657,150 $794,500 500,535 619,710 $722,500 455,175 563,550 $590,500 372,015 460,590 $542,500 341,775 423,150

Buyer

10

1,800,000-2,500,000

Anonymous

16

1,000,000-1,500,000

Anonymous

31

600,000 - 800,000

Private

26

800,000 - 1,200,000

Anonymous

64

700,000 - 900,000

Private

25

500,000 - 700,000

Private

300,000-500,000

Private

55

250,000 - 350,000

Private

300,000-500,000

Asian Private

300,000-500,000

US Trade

Artists Records Latin American Art Evening Sale 22 May 2012 Lot 7 EMILIO PETTORUTI (Argentinian, 1892-1971), Concierto, oil on canvas, painted in 1941 Estimate: $300,000-500,000 Price Realized: $794,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: El cantor, oil on canvas, 1934 Sale of Christie's New York: Wednesday, November 19, 2008 [Lot 00012] Latin American Sale Evening Session Sold For: $782,500 Lot 10 MATTA (Chilean, 1911-2002), La rvolte des contraires, oil on canvas, painted in 1944 Estimate: $1,800,000-2,500,000 Price realized: $5,010,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: The disasters of mysticism, oil on canvas, 1942 Sale of Sotheby's New York: Tuesday, November 23, 1999 Latin American Art Sold For: $2,642,500 Lot 18 HUGO ZAPATA (Colombian, B. 1945), Cordillera, carved lutita (shale rock) and crystal with steel base, executed in 2011 Estimate: $30,000-40,000 Price realized: 32,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Cuna, Medium carved rock (shale), 2011 Sale of Conexin Colombia: Tuesday, September 27, 2011 Catlogo de la subasta Conexin Colombia Sold For: 15,500,000 COP (US$8,268) HAMMER Lot 37 EDMUND DARCH LEWIS (American 1835-1910), Santiago de Cuba, oil on canvas, painted in 1871 Estimate: $40,000 - 60,000 Price realized: $92,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Santiago de Cuba, oil on canvas, 1871 Sale of Sotheby's New York: Wednesday, May 24, 2006 Latin American Art Sold For: $60,000

Lot 51 LOL SOLDEVILLA (Cuban 1901-1971), Untitled, painted wood with metal rods on painted wooden base, executed in 1954 Estimate: $30,000 - 40,000 Price realized: $80,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Untitled, acrylic on wood, 1955 Sale of Christie's New York: Thursday, November 18, 2010 Latin American Sale Sold For: $22,500 Lot 55 CARLOS CRUZ-DIEZ (Venezuelan b. 1923), Physichromie 164, acrylic inserts mounted on painted wood, executed in Paris in April 1965 Estimate: $250,000 - 350,000 Price realized: $722,500 WORLD AUCTION RECORD FOR THE ARTIST Physichromie no. 511, PVC, Casein (Plaka), and acrylic inserts mounted on plywood with an aluminum strip frame Sale of Dallas Auction Gallery: Wednesday, April 25, 2012 [Lot 00117] Modern Art & Antiques Estimate 150,000 - 250,000 USD Sold For 537,750 USD PREMIUM Lot 63 CANDIDO PORTINARI (Brazilian 1903-1962), Menino de Brodowski (Portrait of Arnbio Martini of Brodowski), oil on paper , executed in 1946 Estimate: $60,000 - 80,000 Price realized: $242,500 WORLD AUCTION RECORD FOR THE ARTIST FOR A WORK ON PAPER Previous Record: Noivos - bride and groom (from Cangaceiros), gouache on cardboard, 1951 Sale of Christie's New York: Tuesday, November 21, 2006 Latin American Art Sold For: $78,000 Lot 64 CANDIDO PORTINARI (Brazilian 1903-1962), Navio negreiro, oil on canvas, painted in Paris in 1950 Estimate: $700,000 - 900,000 Price realized: $1,142,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Balano (Swing), oil on panel, 1959 Sale of Sotheby's New York: Wednesday, November 16, 2005

Latin American Art Sold For: $940,000 Lot 67 IBER CAMARGO (Brazilian 1914-1994), Viso, oil on canvas, painted in Porto Alegre in 1982 Estimate: $50,000 - 70,000 Price realized: $140,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Palhaos, oil on canvas, 1987 Sale of Christie's New York: Friday, May 29, 2009 Latin American Sale Sold For: $21,250 _________________________________________________________________________________________ Lot 77 ADOLFO RIESTRA (Mexican 1944-1989), La cantante negra, painted bronze, executed in 1989 Estimate: $25,000 - 35,000 Price realized: $47,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Baista, bronze with brown patina, 1989. Edition 5/12 Sale of Christie's New York: Thursday, June 01, 2000 Latin American Sale (lots 1-75) Sold For $21,150 Lot 78 ROCO MALDONADO (Mexican b. 1951), Las dos hermanas, Virgen de Barro, acrylic and collage on canvas, painted in 1986 Estimate: $20,000 - 25,000 Price realized: $22,500 WORLD AUCTION RECORD FOR THE ARTIST No previous record available for the artist Lot 80 YISHAI JUSIDMAN (Mexican b. 1963), I Cannot Disguise, acrylic on wool carpeting, executed in 2003 Estimate: $25,000 - 35,000 Price realized: $43,750 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Sumo xx, oil on wood, 1997 Sale of Christie's New York: Wednesday, November 18, 2009 [Lot 00236] Latin American Sale Sold For: $23,750 Lot 81 Los Carpinteros: DAGOBERTO RODRGUEZ (Cuban b. 1969), MARCOS CASTILLO (Cuban b. 1971) and ALEXANDRE ARRECHEA (Cuban b. 1970), Molino de viento, mixed media installation (metal pots with lids, wood, fan blades, metal rods, and steel cable), executed in 1998

Estimate: $40,000 - 60,000 Price realized: $98,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Ring de boxeo (+ 7 others; 8 works), watercolor and graphite, 1995-1996 Sale of Sotheby's New York: Wednesday, November 16, 2005 Latin American Art Sold For: $42,000 _________________________________________________________________________________________ Lot 82 ERNESTO NETO (Brazilian b. 1964), Untitled, iron, copper, canvas, leaden beads, executed in 1992 Estimate: $30,000 - 40,000 Price realized: $74,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Apolo 3, aluminum, polyamide, cotton, rubber and steel, 1997 Sale of Phillips de Pury & Company New York: Saturday, October 03, 2009 [Lot 00174] Latin America Sold For: $62,500 ________________________________________________________________________________________ Lot 145 FELIZA BURSZTYN (Colombian 1933-1982), Untitled (from the series Color), welded found metal, 1981 Estimate: $20,000 - 25,000 Price Realized: $25,000 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: De la serie Minimquinas, iron scrap, 1970 Sale of: Conexin Colombia: Tuesday, September 27, 2011 Sold For: 19,000,000 COP ($10,136) _________________________________________________________________________________________ Lot 184 CHARLOTTE YAZBEK (Mexican 1919-1989), El buscador de pjaros, bronze with brown patina Estimate: $20,000 - $25,000 Price Realized: $52,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: El buscador de pjaros, bronze with brown patina, 1971 Sale of Christie's New York: Friday, June 01, 2007 [Lot 00296] Latin American Sale Sold for: $38,400 _________________________________________________________________________________________ Lot 224 NICHOLS GUAGNINI (Argentinian b. 1966), Carla Fifties, oil on canvas, 1992 Estimate: $6,000 - 8,000 Price Realized: $6,250 WORLD AUCTION RECORD FOR THE ARTIST

Previous Record: Untitled - Self-Portrait, Untitled - Self-Portrait, 1996 Sale of: Christie's New York: Friday, June 01, 2007 Sold For: $4,800 _________________________________________________________________________________________ Lot 227 RMULO MACCI (Argentinian b. 1931), Untitled, acrylic on canvas, Painted in 1964, Diptych Estimate: $30,000 - $40,000 Price Realized: $86,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Ojos de tapa, oil on canvas, 1961 Sale of Arroyo Remates: Wednesday, September 07, 2011 [Lot 00023] Latin American Art Auction - Masters & Contemporary Art Sold for: $65,000 _________________________________________________________________________________________ Lot 231 LUIS FERNANDO BENEDIT (Argentinian 1937-2011), Margaritas a los chanchos, oil and enamel on canvas Estimate: $35,000 - 45,000 Price Realized: $40,000 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Del viaje del beagle- Tahiti tia oru, Charcoal Sale of: Christie's New York: Wednesday, May 28, 1997 Sold For: $36,800 _________________________________________________________________________________________ Lot 236 MARCELO POMBO (Argentinian b. 1959), Fantasmitas de ojos azules, plastic appliques, costume stones and beads on commercially-printed cotton fabric wrapped in plastic sheet, Executed in 1997. Estimate: $5,000 - $7,000 Price Realized: $6,875 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Ciclon atravesando un arbor, enamel on wood, 1999 Sale of Rago Auctions: Saturday, November 18, 2006 [Lot 00348] Kenneth L. Freed Collection of Contemporary Art Sold for: $4,800 _________________________________________________________________________________________ Lot 243 FRITZ SIGFRIED GEORGE MELBYE (Danish 1826-1896), Cruz Bay; Cinnamon Bay, Danish West Indies (U.S. Virgin Islands), oil on canvas Estimate: $15,000 - $20,000 Price Realized: $60,000 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: La baie de Cruz, oil on canvas, 1851 Sale of Sotheby's New York: Tuesday, November 24, 1998 [Lot 00106] Latin American Art Sold for: $57,500

_________________________________________________________________________________________ Lot 254 JUAN FRANCISCO GONZLEZ (Chilean 1853-1933), Paisaje, oil on canvas Estimate: $15,000 - 20,000 Price Realized: $15,000 WORLD AUCTION RECORD FOR THE ARTIST No Previous Auction Records _________________________________________________________________________________________ Lot 255 ALBERTO DA VEIGA GUIGNARD (Brazilian 1896-1962), Still Life, pastel on paper Estimate: $15,000 - 20,000 Price Realized: $134,500 WORLD AUCTION RECORD FOR THE ARTIST FOR A WORK ON PAPER No Previous Auction Records _________________________________________________________________________________________ Lot 259 ALDEMIR MARTINS (Brazilian 1922-2006), Ruda, Dio del amore, oil on canvas, 1961 Estimate: $10,000 - $15,000 Price Realized: $17,500 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Rendeira, oil on canvas, 1963 Sale of Christie's New York: Thursday, May 29, 2008 [Lot 00271] Latin American Sale Day Session Sold for: $ 12,500 _________________________________________________________________________________________ Lot 264 WILLYS DE CASTRO (Brazilian 1926-1988), Untitled, painted and incised wood relief, framed in an acrylic box Estimate: $35,000 - 45,000 Price Realized: $50,000 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Composio azul, gouache, 1956-1957 Sale of: Christie's New York: Friday, May 29, 2009 Sold For: $47,500 _________________________________________________________________________________________ Lot 269 LEDA CATUNDA (Brazilian b. 1961), Mosca, acrylic on canvas and blanket Estimate: $15,000 - 20,000 Price Realized: $40,000 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Circulos, sewn fabric relief, 1994 Sale of: Christie's New York: Thursday, May 27, 2010

Sold For: $25,000 _________________________________________________________________________________________ Lot 272 LUIZ ZERBINI (Brazilian b. 1959), Abric de Macaco, acrylic on canvas, Painted in Rio de Janeiro in 1994. Estimate: $20,000 - $30,000 Price Realized: $92,500 WORLD AUCTION RECORD FOR THE ARTIST No Previous Auction Records _________________________________________________________________________________________ Lot 274 RAFAEL GOMEZBARROS (Colombian b. 1972), Hormigas (from the series Casa Tomada), installation in five parts; fiberglass, resin, sand and wood, 2007 Estimate: $12,000 - 18,000 Price Realized: $23,750 WORLD AUCTION RECORD FOR THE ARTIST No Previous Auction Records _________________________________________________________________________________________ Lot 275 GERARDO SUTER (Argentinian/Mexican b. 1957), a) Tlaloc, gelatin silver print, executed in 1991 Estimate: $6,000 - $8,000 Price Realized: $8,125 WORLD AUCTION RECORD FOR THE ARTIST No Previous Auction Records _________________________________________________________________________________________ Lot 283 DIEGO TORRES (Cuban b. 1970), Reflexin, oil on canvas, painted in 2010 Estimate: $10,000 - $15,000 Price Realized: $15,000 WORLD AUCTION RECORD FOR THE ARTIST No Previous Auction Records _________________________________________________________________________________________ Lot 286 FEDERICO HERRERO (Costa Rican b. 1978), Untitled, oil and ink on canvas, 2000 Estimate: $18,000 - 22,000 Price Realized: $25,000 WORLD AUCTION RECORD FOR THE ARTIST Previous Record: Hecho en casa de Uci Canal Grande, oil on canvas, 2005 Sale of: Phillips de Pury & Company London: Saturday, October 13, 2007 Sold For: 8,000 - 12,000 ($16,296 - 24,444) _________________________________________________________________________________________ Lot 302

ALFREDO OTERO (Cuban b. 1975), Untitled (from the series Muros), signed and dated 'A Otero 10' (lower right) signed again (on the reverse) sand, kaolin, acrylic, acetate and liquid latex on canvas Estimate: $4,000-6,000 Price realized: $2,750 WORLD AUCTION RECORD FOR THE ARTIST No Previous Auction Records