CB Richard Ellis Group, Inc. Acquires India Affiliate

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 development.

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 boom."

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.