RED SKY RANCH SELLS FOR MORE THAN $3 MILLION

Lago Vista, Texas. - July 26, 2008 - J. P. King Auction Company, the nation's leading auction marketing firm specializing in high-end properties sold the exclusive Texas Red Sky Ranch for more than $3 million on July 25th.

"The new owner of the ranch toured the property during the preview period and was so impressed that he decided to pre-empt the bidding by making an acceptable offer a day prior to the scheduled auction,” said Craig King, president & CEO of J. P. King Auction Company.

The new owner of Red Sky Ranch resides in Dallas, Texas.

Red Sky Ranch is situated on 96+/- acres and consisted of 4 tracts, with areas available for numerous home site possibilities on upstream and downstream frontage.

A 2-story, 5 bedroom and 3.5 bath home stucco home with breathtaking views of Lake Travis and Hill Country is located on the property.

Red Sky Ranch is centrally located along the high growth corridor between Lago Vista and Marble Falls. The ranch is a short drive from the city of Austin. The property features hundreds of mature oaks and sycamore trees throughout. The ranch has been improved by the removal of water-hogging cedars on the lower elevation.

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