Released on: October 29, 2008, 8:31 pm

Press Release Author: McGrath Real Estate

Industry: Real Estate

Press Release Summary: New McGrath office opens in Gosford to service one of the
most desirable lifestyle areas in NSW, located just 60 minutes north of the Sydney
CBD, at the gateway to the Central Coast.

Press Release Body: Leading residential agency, McGrath Estate Agents, has announced
its further expansion along the NSW North Coast with the opening of a second Central
Coast office to service the Gosford/Woy Woy region. This a key move in the company's
premium franchise roll-out into select lifestyle locations outside the Sydney
metropolitan area, and together with McGrath Terrigal, strategically positions the
group for the anticipated growth of the region.

John McGrath, Chief Executive of McGrath (http://www.mcgrath.com.au/ ), said the
Gosford region was emerging as one of the most desirable lifestyle areas in NSW,
located just 60 minutes north of the Sydney CBD, at the gateway to the Central
Coast.

"This region offers excellent growth opportunities with a diverse choice of
properties to suit every lifestyle need - from first home buyers to young families,
and those wishing to live in premium waterfront residences close to an abundance of
recreational facilities bordering Brisbane Waters. It's also attractive to the
retiring baby boomer market, many of whom are moving from Sydney. While well suited
to those enjoying the coastal lifestyle, its close proximity and easy access to
railway stations, also make it ideal for commuters.

"We are keen to extend our offering beyond the Terrigal region and offer a higher
level of service to local residents, utilising our extensive buyer database, the
McGrath magazine and our technology to more effectively market local properties to a
wider audience."

McGrath's new office at Gosford is the result of an amalgamation between one of the
area's most respected and established family real estate agencies - Kathy Bowler
Real Estate (which has been servicing the area for more than 29 years) - and
co-principals of McGrath Terrigal, Jaimie Woodcock and Mat Steinwede.

Alan Bowler will be heading up the new office, having proudly flown the Bowler flag
for the past decade. "I am thrilled and excited at the prospect of joining the
McGrath network as I believe they have set the benchmark for the industry, raising
the bar for absolute quality and ethics. As a brand, McGrath differentiates itself
from its competition by its innovation, marketing, technology and focus on customer
service."

Mr. Bowler added, "Our core business has been driven by local support. Together with
Jaimie and Mat, we plan to build a strong team to further increase our market share
and take advantage of the growth potential that the Coast will experience in the
future."

Mr. Bowler will be joined by his existing team of four sales agents, Stephen
Farthing, Tony Yarnold, Alison Williams and Graham Haid; a property management team
and a mortgage broking offering, Oxygen Home Loans (http://www.o2hl.com.au/ ).

Co-Principal Jaimie Woodcock said the new office was ideally positioned to expand
its reach to the rural acreage of the Central Coast, and service existing clients on
the Brisbane Waters waterfront.

"Price growth in the area has been relatively slow in the past five years, but we
anticipate increased activity as more out of area buyers recognise what their money
can buy," said Mr. Woodcock. "Mat and I will assist Alan in growing the business,
sharing our strong buyer and client databases and resources."

The new McGrath Gosford office will operate from Woy Woy in the south, up to Point
Frederick in the north, and out to the rural areas of Somersby and Mangrove Mountain
in the west. Other key suburbs will be Umina, Ettalong Beach, Point Clare, East
Gosford and Ourimbah.

The new McGrath Gosford office occupies the site of the former Kathy Bowler Real
Estate office and the telephone number remains the same - (02) 4323 4833.


Web Site: http://www.mcgrath.com.au/

Contact Details: For further information please contact:
Alan Bowler
McGrath Gosford
2 / 482 Pacific Highway
Wyoming, NSW, 2250
Tel: +61 (0)2 4323 4833
Fax: +61 (0)2 4323 4491
http://www.mcgrath.com.au/