CB Richard Ellis Announces Share Purchase Program.Business Editors EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--May 1, 2000 CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. (NYSE NYSE See: New York Stock Exchange :CBG CBG corticosteroid-binding globulin. ) today announced that it will purchase Company shares with employee funds deferred under the CB Richard Ellis Services Inc. Deferred Compensation Plan (the "DCP DCP - definitional constraint programming "). Under the DCP, any member of senior management and any highly compensated employee can elect to defer some or all of his or her cash compensation and have it invested in several areas. Money deferred pursuant to the Company Stock option is retained by the Company, and the Company has an obligation to distribute to the employee a number of shares of stock determined by dividing the deferral amount by the price of the stock at the time of the deferral. The Company has determined that deferrals of employees that are to be invested in common stock generally will be used to purchase the stock in the open market. The shares will be held by the Company as Treasury shares. The purchases will begin immediately. CB Richard Ellis (NYSE:CBG) is the world's leading real estate services company. With headquarters in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and 10,000 employees worldwide, the company serves real estate owners, investors and occupiers through nearly 250 principal offices in 36 countries. Services include property sales and leasing, property management, corporate services and facilities management, mortgage banking, investment management, capital markets, appraisal/valuation, research and consulting. CB Richard Ellis had 1999 revenues of $1.2 billion. For more information about CB Richard Ellis, visit the company's Web site at www.cbrichardellis.com. This release contains forward-looking statements concerning expectations about the company's capital management plans and its intentions to purchase common stock. These statements reflect the Company's current plans and expectations and are based on information currently available to it. They rely on a number of assumptions and estimates, which could prove to be inaccurate, and which are subject to risks and uncertainties that could cause the Company's actual results to vary materially from the results anticipated. CB Richard Ellis undertakes no obligation to update publicly or revise any forward-looking statements. These statements are qualified by reference to the Company's 1999 Annual Report and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its quarterly reports on Forms 10-Q. |
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