CB Richard Ellis Group, Inc. Announces Carbon Neutral Goal and Plans for Assisting Clients with 1.7 Billion Sq. Ft. of Properties Worldwide on Carbon Reduction Programs

CB Richard Ellis Group, Inc. (NYSE:CBG), the world's largest
commercial real estate services company (based on 2006 revenues),
today announced a goal to become carbon neutral by 2010 and a plan to
assist clients with energy efficiency programs at the 1.7 billion
square feet of building space that CB Richard Ellis manages around the
world. This represents the first time a major commercial real estate
services firm has announced plans to go carbon-neutral.

CB Richard Ellis also said that it is working closely with the
Natural Resources Defense Council to introduce new energy saving
measures at client-owned and -occupied properties. Working with both
owners and tenants, CB Richard Ellis expects to engage its clients in
discussions about environmental issues with a goal of implementing
energy saving technology and practices at the vast majority of its
clients' properties and corporate facilities.

The Company said the initiative is a response to the growing
demand for green facilities from both clients and employees. "Our
decision is driven by our desire to do the right thing, but is also a
direct result of a rapidly evolving marketplace. A large number of our
clients -- both property owners and occupiers -- are already actively
working to reduce energy costs and create greener space," said Brett
White, president and chief executive officer of CB Richard Ellis. "Our
clients are driving toward energy savings and solid, sustainable
environmental performance. We see a great opportunity to partner with
them to improve their operational performance and help protect the
climate at the same time. The relationship with NRDC will help us to
uncover new ideas that we hope our clients will adopt at their
properties."

Energy use in buildings is responsible for 40 percent of U.S.
global warming emissions, according to NRDC, which has spent over two
decades working on energy issues, and has had a major hand in creating
and improving efficiency standards at both the state and federal
levels.

"The buildings where we live and work every day hold huge
potential for reducing energy use and emissions. Improving the
performance of existing buildings as well as new ones is going to be
an important part of any effective global warming strategy," said NRDC
president Frances Beinecke. "When the largest manager of commercial
property in the world takes up a challenge like this, it can have a
tremendous impact."

CB Richard Ellis' professionals are already actively engaged with
clients around the world in developing and implementing "green"
programs. CB Richard Ellis has established a global task force to
aggregate and share best practices on a global basis, to develop
educational programs for clients and employees and to develop internal
policies and business practices. The full text of the company's
Environmental Stewardship policy is available on the Company's website
at www.cbre.com/environment.

At the facilities it occupies, the Company expects to achieve its
goal of carbon neutrality by 2010 through a combination of energy
savings, more efficient space utilization, carbon emissions reductions
and, if necessary, through investments in carbon offsets.

In addition, the Company recently registered its new Washington,
D.C. office with the U.S. Green Building Council's LEED(R) (Leadership
in Energy and Environmental Design) for Commercial Interiors program,
and expects to be awarded Gold status.

"CB Richard Ellis is to be commended for their groundbreaking
commitment to carbon neutrality, which will help drive a fundamental
shift in the thinking of the real estate services community about the
financial and environmental impact of green buildings," said Rick
Fedrizzi, President, CEO & Founding Chair of USGBC. "In addition to
dramatically reducing greenhouse emissions, LEED certified buildings
substantially improve the health and productivity of their occupants.
By walking the walk with their space in Washington, D.C., CB Richard
Ellis will showcase how easy it is to realize the benefits of green
buildings."

"A green working environment has proven time and again to improve
employee morale and boost productivity," Mr. White said. "We want to
demonstrate the benefits of going green."

CB Richard Ellis was advised in the formation of its environmental
task force, development of its environmental policy and the
relationship with NRDC by Sustainable Finance Ltd., leading advisors
to the financial community on environmental issues. "This is one of
the most important environmental commitments yet. It brings the
largest worldwide manager of commercial properties to the table and
commits the entire company to advance a green agenda," said
Sustainable Finance Director Matt Arnold.

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.

The Natural Resources Defense Council is a national, nonprofit
organization of scientists, lawyers and environmental specialists
dedicated to protecting public health and the environment. Founded in
1970, NRDC has 1.2 million members and online activists, served from
offices in New York, Washington, Chicago, Los Angeles, San Francisco
and Beijing.