CB Richard Ellis Wins 'Organization of the Year' Award From Commercial Real Estate Women Network.

LOS ANGELES -- CB Richard Ellis (NYSE:CBG) has received the prestigious "Organization of the Year" award from the Commercial Real Estate Women (CREW) Network. The award recognizes outstanding involvement and exemplary support by a company through its contribution to the development of the CREW Network, its members and its chapters. The 2004 award was presented last week at the CREW Network Conference in Toronto, Canada.

"We are very proud to have earned this esteemed, national award," says Brett White, president, who accepted the award on behalf of CB Richard Ellis. "We believe that the commercial real estate services firm that is able to create an environment that attracts and retains women and minorities will be the firm with a distinct competitive advantage over its peers. To that end, our company is a strong supporter of CREW and we will continue to play our part to assist CREW in its great work of supporting diversity efforts and attracting women and minorities to our industry."

CB Richard Ellis received nominations from CREW Atlanta, Montreal, San Francisco and ICREW New Jersey. Nominations for this award can only come from a CREW Network chapter.

Criteria in judging the recipient of this award include promoting CREW and its chapters; demonstrating involvement with CREW; maintaining a significant percentage of principals and employees who are members of CREW; and providing financial support and encouraging participation in CREW events and leadership positions.

Over 100 CB Richard Ellis employees nationwide are members of the CREW Network - more than any other company. Deborah Quok, a vice president in CB Richard Ellis' San Francisco office and the current CREW Network president, notes, "CREW Network is very appreciative of the human and financial resources CBRE has consistently provided in support of CREW Network's mission to advance the success of women in the commercial real estate industry. Without the concerted efforts of the major firms, it will be extremely challenging for women to achieve parity in opportunity, influence and power in this industry." Fourteen other CBRE employees are active in CREW chapter leadership roles and the company has regularly been a strong financial supporter of CREW Network and many of its chapters across North America.

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 www.cbre.com.