CB Richard Ellis Group, Inc. to Webcast Its Business Review Day on May 17, 2006.

LOS ANGELES -- CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that it will hold its Business Review on Wednesday, May 17, 2006 from 8:30 a.m. to 3:30 p.m. (EDT). The agenda includes presentations on its business service lines and geographies, and provides investors with an opportunity to learn more about the Company's initiatives.

A live audio webcast of the Business Review Day will be accessible on the Investor Relations section of the Web site at www.cbre.com. Downloadable copies of the slides will also be available on the Web site. Both the webcast and the presentations will be archived on the Investor Relations section of the Company's web site for three months.

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a FORTUNE 1000 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2005 revenue). With approximately 14,500 employees, the Company serves real estate owners, investors and occupiers through more than 200 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; investment management; appraisal and valuation; and research and consulting. Founded in 1906, CB Richard Ellis marks a century of excellence in real estate services this year. Please visit our Web site at www.cbre.com.