Colliers reorganizes: Johnston, Riguardi and Boisi to lead.

Colliers ABR has announced a major corporate reorganization designed to ensure its continued growth while maintaining its position as New York's most successful independent, privately-held real estate services company.

In its newly restructured form, Colliers ABR will be run by three senior executives--president Randall Johnston and vice chairmen Peter G. Riguardi and Mark P. Boisi. Its brokerage division will be headed and directed by vice chairman Robert L. Billingsley and executive managing director Robert Flippin.

"We've not only streamlined our decision making process," stated Johnston, "but we've placed the future of our company, squarely in the hands of youthful, dynamic executives who have already proven they possess extraordinary talent and leadership abilities."

In previous years, Colliers ABR was run by a nine-member management committee.

"We're entering the most challenging and competitive era in real estate history," added Mr. Johnston. "Through this reorganization, we will be better able to meet our long term growth and profitability objectives while reinforcing our position as a major player in this dynamic and ever changing marketplace."

The following are brief highlights of Colliers ABR's key executives:

Randall Johnson: Colliers ABR's chief operating officer from 1994 to 1999, Mr. Johnston's diverse experience spans over two decades and includes development, restructurings, workouts, consulting, tenant representation, sales, sale leasebacks and building management. He has most recently focused on major real estate assignments in the New York metropolitan region.

Peter G. Riguardi: A principal partner of Colliers ABR, Riguardi has established himself as one of the industry's premier big deal makers. He is perhaps best known-for being the driving force in one of the largest lease transactions in New York City history - the Metropolitan Transportation Authority's (MTA). 1.6 million SF net lease of the entire 32-story office building at Two Broadway. In another mega transaction, he helped negotiate the ground lease for-Morgan Stanley Dean Witter's development of 745 Seventh Ave., which is now under construction.

Mark P. Boisi: A founding member of Abrams Benisch Riker, Inc., the predecessor company to Colliers ABR, Boisi's real estate career spans 26 years' and is marked by an array of significant lease transactions, including the single biggest leasing deal in 1994 - Donaldson Lufkin & Jenrette's consolidation into 750,000 SF at 277 Park Ave., a building he still oversees as leasing and managing agent. Boisi presently manages over 3 million square feet of properties for Stahl Real Estate, LVMH, Phillips Auctioneers and The Apple Bank for Savings. Extremely active on the tenant side as well, Boisi's recent tenant representation include Greenberg, Traurig's lease of 120,000 SF, Phillips Auctioneers - net lease of its New York headquarters building, and two United Nations entities - UNOPS and UNFPA -- which recently leased over 200,000 SF.

Robert L. Billingsley: When he joined as Principal in 1977, Billingsley was one of the first members of the newly, founded Abrams Benisch Riker, Inc., which later merged with Koeppel Tener Riguardi to form Colliers ABR. During his career, he has successfully designed and implemented marketing programs for over 15 million SF of space, and today continues to represent such prominent clients as Teachers Insurance and Annuity Association, AEW Capital Management, among others Buildings he has represented include 730 Third Ave., 750 Third Ave. and 485 Lexington Ave.

Robert Flippin: A skilled tenant rep specialist, Flippin's recent accomplishments include his negotiation of Morgan Stanley & Co.'s ground lease and implementing the development of Rockefeller Plaza West, the firm's soon-to-be corporate headquarters at 745 Seventh Ave. He has also enjoyed a growing relationship with Merrill Lynch, which has resulted in several major transactions, including its acquisition of 222 Broadway, a 700,000 SF Downtown office building. He also represented Weiss Peck & Greer in renewal of its headquarters at 1 New York Plaza.