CB Commercial Real Estate Group (USA), DTZ (U.K.), and C.Y. Leung (Hong Kong) announce exclusive worldwide alliance.

LOS ANGELES--(BUSINESS WIRE)--May 22, 1995--CB Commercial Real Estate Group and DTZ (a joint venture of leading firms throughout Europe), which have been linked through an international alliance relationship since 1992, announced Monday that C.Y. Leung and Co. Ltd., a prominent Hong Kong firm, has joined as the third major member.

The exclusive agreement offers multinational clients expanded and enhanced services in China and other countries in the actively growing Asia Pacific region.

Combined, this global alliance is represented in more than 170 offices in 32 countries.

The participation of C.Y. Leung and Co. Ltd. in the international alliance will offer U.S. clients unparalleled insight and understanding of the dynamic Chinese marketplace, governmental policies and business practices, thereby simplifying and expediting multinational real estate negotiations and transactions.

Chairman and Chief Executive Officer C.Y. Leung, who founded his namesake firm in 1993, has an extended history of activities within the Peoples Republic of China on mainland China and Hong Kong business and civic affairs.

Jim Didion, chairman and chief executive officer of CB Commercial, remarks: "C.Y. Leung's depth of experience and market dominance in the rapidly emerging East and Southeast Asian region will enable us to capture significant opportunities and provide major multinational corporate clients a comprehensive range of quality services. We are proud to be associated with DTZ and C.Y. Leung and look forward to a long and productive relationship."

As part of the global alliance's Asian Pacific strategy, DTZ Debenham Thorpe director Peter Hill has established a European desk in C.Y. Leung's Hong Kong office. This European desk will manage inward/outward flows of corporate, investor, and residential assignments. CB Commercial's International Group, together with senior officers in its Corporate Services and Institutional client groups, will continue to act as liaison for major U.S. clients.

In addition, CB Commercial and C.Y. Leung recently joined DTZ Debenham Thorpe as shareholders in DTZ Debenham International, Singapore.

The CB Commercial/DTZ/C.Y. Leung alliance, in combination with the new shareholder agreement with DTZ Debenham International, Singapore, represents a formidable Asian Pacific market presence in 15 locations including Hong Kong, Taipei, Beijing, Shanghai, Singapore, Kuala Lumpur, Jakarta, and Surabaya.

CB Commercial Real Estate Group Inc., established in 1906, is the leading diversified commercial real estate services firm in the world. Its services include commercial real estate brokerage, tenant and corporate advisory services, institutional services, real estate management, realty advisory services, appraisal and property tax services, econometric forecasting, and international services.

CB Commercial's 1994 business activity in the United States included more than 21,000 assignments and transactions and a revenue base of over $430 million. Corporate headquarters is located in Los Angeles.

C.Y. Leung and Co. Ltd., which maintains its headquarters in Hong Kong is one of the largest full-service real estate firms in the region. Services include brokerage, appraisal, research and consulting, and property management. The firm was founded in 1993 and is privately held by key practicing directors and licensed to operate in China in all areas of real estate services.

C.Y. Leung conducts one of the largest valuation practices in Hong Kong and China.

DTZ combines the experience and skills of DTZ Debenham Thorpe, a firm founded in the U.K. in 1784; DTZ Jean Thouard, one of the leading French firms of property advisors, offering the full range of property services throughout its regional network; DTZ Zadelhoff, the Dutch partnership founded in 1968 with wide national coverage, together with its German sister company, DTZ Zadelhoff, established in 1979 and now operating in all the major cities of Germany; and DTZ Debenham Winssinger, founded in Belgium at the turn of the century.

These founder firms have now expanded the European business to embrace nearly 70 offices in 13 countries with some 2,000 staff. The practice embraces a comprehensive network of offices in Central and Eastern Europe, together with offices in Greece, Turkey, Spain, and Sweden.

DTZ Debenham Thorpe has also expanded into the Middle East, South Africa, Singapore and Australia, the latter forming part of the Asia Pacific/Australasian restructuring. The DTZ member firms offer core services in investment purchases and sales, corporate consultancy, building consultancy, asset and property management, leasing, sales, acquisitions and valuation.

DTZ's European activity involves a revenue of approximately $200 million. Corporate headquarters for DTZ Debenham Thorpe is at 30 Throgmorton Street, London EC2N 2BQ.

CONTACT: Susan Whyte Simon, 310/444-1309

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Jeremy Kehoe, 310/444-1339