Algodon Wine Estates Wins International Property Awards

FOR IMMEDIATE RELEASE

ALGODON WINE ESTATES WINS INTERNATIONAL PROPERTY AWARD AT LONDON CEREMONY

NEW YORK, NEW YORK (December 1, 2010) – On Saturday, November 27th, leading property professionals gathered at the Lancaster London Hotel for the presentations of the International Property Awards in association with Bloomberg Television. Algodon Wine Estates (a unique luxury vineyard estate featuring golf, tennis, polo, and internationally award-winning amenities in San Rafael, Mendoza) has won in the category of Best Mixed Use Development Argentina.

Stuart Shield, chairman of the International Property Awards says, "In our quest to find the most outstanding projects and property professionals from around the world we were fascinated to discover that the total value of the award winning projects was over $100 billion. This helps to contrast with the 'Bear' market approach to the property market in general. There are some incredibly strong roots being established for the future growth and generation of properties that are more attractive to look at, safer, kinder to the environment, smarter and able to deliver a better quality of life for those who live and work in them."

Much of the judging was carried out by the International Property Awards' panel of judges at the London offices of Bloomberg Television, but entries were also outsourced to leading experts in each particular field throughout the world. This year's judges included Luke McKend, industry head property markets of Google UK; Peter Bolton King, group chief executive of the National Federation of Property Professionals; Christopher Hall, president elect of FIABCI; Thijs Stoffer, International Consortium of Real Estate Agents Association; Fiona Nixon, chairman of the Australia Institute of Architects, Hendrik Nelde, president of FIABCI Belgium; Helen Shield, editor-in-chief of International Homes Luxury Collection magazine and Sven Johns, CEO of the German Real Estate Association.

Scott Mathis is the Chairman & CEO of InvestProperty Group, the developer of Algodon Wine Estates. Mr. Mathis said of winning the distinction of Best Mixed Use Development, "We have put maximum effort into developing a luxury vineyard estate that incorporates internationally award-winning wines and amenities catering to the luxury residential and hospitality tourism sectors. We are grateful that our achievements have been recognized by our peers, and we endeavor to continue implementing our vision of sophistication and quality in the development of Algodon Wine Estates and the Algodon Brand."

Important Notes:
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. This press release may contain certain statements of a forward-looking nature relating to future events or future business performance. Any such statements that refer to Algodon Wines & Luxury Development Group (Algodon Group) and its respective subsidiaries ("the Company") estimated or anticipated future results or other non-historical facts are forward-looking and reflect the Company's current perspective of existing trends and information. These statements involve risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements speak only as of the date set forth above. The Company undertakes no obligation to update publicly any forward-looking statement, whether because of new information, future events or otherwise.

Media/Analyst Contact:
Algodon Group
Eric Stear, Corporate Communications & Marketing Manager
212.739.7669
RStear@AlgodonGroup.com