CB Richard Ellis Group, Inc. Acquires India Affiliate

    LOS ANGELES, August 30 /CNW/ - CB Richard Ellis Group, Inc. (NYSE:  CBG)
today announced the acquisition of a majority interest in CB Richard Ellis
South Asia Pte Ltd (CBRE India), a CB Richard Ellis affiliate company that is
a premier, full service provider operating in 30 cities across the rapidly
growing India market.

    CB Richard Ellis' expansion in the India market comes at a time of strong
economic activity, continued growth of FORTUNE 500 corporate space occupiers,
loosened restrictions on foreign investment resulting in higher capital flows
into real estate, and increased commercial and residential real estate

    CBRE India, based in Delhi, has been the CB Richard Ellis affiliate in
India since 1994, and today has a staff of over 1,000 professionals providing
a full spectrum of real estate services, including Leasing, Property and
Facilities Management, Investment Sales, Project Management, Consulting
Services and Valuation/Appraisal.

    Over more than a decade, CBRE India has executed more than 22 million sq.
ft. of leasing transactions and approximately 30 million sq. ft. in project
management assignments, and advised major corporations throughout the world on
their real estate strategies in India. For example, CBRE India has arranged
lease transactions for global companies including Goldman Sachs, Cisco
Systems, McAfee and JPMorgan Chase and Hewlett-Packard. CBRE India also
manages 40 million sq. ft. of commercial properties and corporate facilities.

    Robert Blain, President of CB Richard Ellis Asia-Pacific, said: "The
acquisition of CBRE India fits perfectly with our strategy of achieving the
leadership position in major business centers around the world. We see India -
along with China and Japan -- as one of the key drivers of our growth in Asia.
We have worked closely with CBRE India as our affiliate, and have now cemented
even closer ties as the economy and real estate market in India continue to

    Anshuman Magazine, Chairman and Managing Director of CBRE India, said:
"CB Richard Ellis is the world leader in commercial real estate, and our new
status as a majority owned operation will enable us to better tap into a
wealth of resources and the industry's most extensive and capable global
platform. We are very enthusiastic about this move, and look forward to
expanding the range of services we can offer our clients - in India and around
the world."

    About CB Richard Ellis

    CB Richard Ellis Group, Inc. (NYSE:  CBG), an S&P 500 company headquartered
in Los Angeles, is the world's largest commercial real estate services firm
(in terms of 2006 revenue). With over 24,000 employees, the Company serves
real estate owners, investors and occupiers through more than 300 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;
appraisal and valuation; development services; investment management; and
research and consulting. In 2007, BusinessWeek named CB Richard Ellis one of
the 50 "best in class" companies across all industries. Please visit our Web
site at www.cbre.com.

    "Safe Harbor" Statement Under the Private Securities Litigation Reform
Act of 1995:

    Certain of the statements in this release regarding the acquisition of
CBRE India that do not concern purely historical data are forward-looking
statements within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve risks and uncertainties, including, but not limited to, the ability of
the parties to successfully integrate the operations of CBRE India with CB
Richard Ellis, the ability to leverage the integrated platform to capture a
larger share of the real estate market in India, and the Company's
expectations to grow its business throughout Asia, as well as other risks and
uncertainties discussed in CB Richard Ellis' filings with the Securities and
Exchange Commission (SEC). Any forward-looking statements speak only as of the
date of this release and, except to the extent required by applicable
securities laws, CB Richard Ellis expressly disclaims any obligation to update
or revise any of them to reflect actual results, any changes in expectations
or any change in events. If CB Richard Ellis does update one or more
forward-looking statements, no inference should be drawn that it will make
additional updates with respect to those or other forward-looking statements.
For additional information concerning factors that may cause actual results to
differ from those anticipated in the forward-looking statements, and risks to
CB Richard Ellis' business in general, please refer to the Company's SEC
filings, including its Annual Report on Form 10-K for the fiscal year ended
December 31, 2006 and its Quarterly Report on Form 10-Q for the quarter ended
June 30, 2007. Such filings are available publicly and may be obtained off the
Company's website at www.cbre.com or upon request from the CB Richard Ellis
Investor Relations Department at investorrelations@cbre.com.

For further information:

For further information: CB Richard Ellis Group, Inc. Kenneth Kay Senior
Executive Vice President and Chief Financial Officer 310-606-4706 or Steve
Iaco Director of Corporate Communications 212-984-6535

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