CB Richard Ellis Announces Management Transition Plan in EMEA Region.

LOS ANGELES -- CB Richard Ellis, Inc. (NYSE:CBG) today announced a management transition plan for its Europe, Middle East and Africa (EMEA) Region.

Alan Froggatt will step down as EMEA President on June 30, 2005. Michael Strong will combine the additional duties of EMEA President with his

Later this year, Mr. Froggatt plans to open his own management consultancy, focused on business development strategies and executive recruitment in the real estate industry.

Mr. Strong, long a major figure within the real estate services industry in London, was named Chairman of Insignia Richard Ellis (a predecessor company of CB Richard Ellis) in 2001. He has vast experience in real estate development, investment and leasing projects, and has advised many major corporations on their real estate needs.

Since CBRE's acquisition of Insignia in 2003, Mr. Strong has helped to oversee the integration of the EMEA operations and set the strategic direction for this Region's solid growth. He joined the company's Global Executive Board earlier this month.

"Alan and Mike, working as a team, have led us to a leadership position across Europe," said Brett White, President of CB Richard Ellis. "With Alan's plans to retire from CBRE, our EMEA business could not be in more capable hands than Mike's. We are well positioned to continue our strong performance under his leadership."

About CB Richard Ellis

Headquartered in Los Angeles, CB Richard Ellis (NYSE:CBG) is the world's leading commercial real estate services firm (in terms of 2003 revenue). The company serves real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. Including partners and affiliates, CB Richard Ellis has more than 300 offices across 50 countries around the world. Please visit our Web site at http://www.cbre.com.