Sheldon Good & Company International Responds to Phoenix Colvard Development Allegation



    CHICAGO, June 25 /CNW/ -- Norman Berger, Esq., an attorney for Sheldon
Good & Company International, LLC, a real estate auction company based in
Chicago, today characterized as "absolutely baseless" a June 20th Phoenix
Colvard Development legal action filed "pro se" -- without attorney --
claiming that real estate advertisements in The Wall Street Journal and The
New York Times that clients paid for, never appeared.  "We will vigorously
defend this lawsuit as filed in Ashe County and will pursue sanctions against
Phoenix Colvard and principals, Eric and Jocelyn Hunter," Mr. Berger said.
    Phoenix Colvard in a collateral press release, earlier claimed that
Sheldon Good "has charged clients ... for real estate advertisements that
never ran in the Wall Street Journal and the New York Times."
    According to Andrew Miller, Vice President of New York-based Miller
Advertising, tasked with the placement of advertising on behalf of Sheldon
Good & Company:
    "We audited the ad schedule for the 2005 Phoenix Mountain auction and
verified that the ads did, in fact, appear in The Times and Wall Street
Journal per our schedule. We identified and located actual hard copies of the
three New York Times newspapers with the ads as ordered and all the Wall
Street Journal ad dates were found, as well as e-tearsheets from the Wall
Street Journal. In summary, all The New York Times and Wall Street Journal ads
on the schedule ran as scheduled. We have in our possession all of the
supporting documents necessary not only to challenge the Phoenix Colvard
allegation, but to reflect our flawless stewardship of this account."
    Mr. Berger said: "Every element of the marketing program for the Phoenix
Mountain auction was previously reviewed and approved by the seller, inclusive
of the media buys. Further, per Sheldon Good's custom with all clients, the
auction company forwarded interim status reports with all the marketing data
to the Phoenix Colvard client all throughout the marketing program."
    Added the advertising agency's Mr. Miller: "Throughout our 14-year
association with Sheldon Good, inclusive of the Phoenix Mountain project,
every media schedule program sent to us from Sheldon Good has been previously
approved by the seller. These protocols are strictly followed with all Sheldon
Good clients, including Phoenix Colvard. All ads on the Phoenix Colvard
schedule ran as ordered and approved; and any changes along the way were
effected as ordered and approved."
    John A. McAllister was Sheldon Good's North Carolina's licensed agent for
the sale of property.  According to Mr. McAllister: "I performed all of all of
the duties and responsibilities in my role as the broker in charge of Sheldon
Good International on the Phoenix Mountain transaction, adhering to all rules,
regulations and laws of the state of North Carolina. To the best of my
knowledge, Sheldon Good & Company International, LLC performed all their
duties and responsibilities and complied with all the rules, and regulations
of the state as well."
    Mr. McAllister is the former president and charter member of the South
Carolina Chapter of the REALTORS Land Institute. He was also the head of the
Southeastern Federal Power Administration from 1988-1995. Mr. McAllister
received the Alvah. H. Chapman, Jr. Distinguished Leadership Award and was
inducted into The Citadel Business Hall of Fame in April, 2006.
    
    About Sheldon Good & Company
    
    Sheldon Good & Company (www.sheldongood.com) America's Real Estate
Auctioneer, in the past has been rated as the largest real estate auction
company in the United States by a number of prestigious publications. The
company has aggregate sales of over $9 billion. For further information,
please call Sheldon Good & Company at 312-373-4300.
    Sheldon Good & Company




For further information:

For further information: Peter M. Hamilton of Rubenstein Associates,
Inc.  for Sheldon Good & Company, +1-212-843-8015 Web Site:
http://www.sheldongood.com

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