Corporate Overview for Business Review Day

CB Richard Ellis | Page 2

Forward Looking Statements

This presentation contains statements that are forward looking within the meaning

of the Private Securities Litigation Reform Act of 1995, including statements

regarding our growth momentum in 2008, future operations and future financial

performance.

These

statements

should

considered

estimates

only

and

actual results may ultimately differ from these estimates. Except to the extent

required by applicable securities laws, we undertake no obligation to update or

publicly revise any of the forward-looking statements that you may hear today.

Please refer to our current annual report on Form 10-K (in particular, “Risk

Factors”) and our current quarterly report on Form 10-Q, which are filed with the

SEC and available at the SEC’s

website (http://www.sec.gov), for a full discussion

of the risks and other factors that may impact any estimates that you may hear

today. We may make certain statements during the course of this presentation

which

include

references

“non-GAAP

financial

measures,”

defined

SEC

regulations.

required

these

regulations,

have

provided

reconciliations

these measures to what we believe are the most directly comparable GAAP

measures, which are attached hereto within the appendix.

CB Richard Ellis | Page 3

Global Leader in Commercial Real Estate Services

100+ years

55 countries

#1 in key cities in America, Europe and Asia Pacific

#1 commercial real estate brokerage

#1 outsourcing

#1 appraisal and valuation

$42.2 billion in assets under management

(1)

#2 commercial mortgage brokerage

$9.1

billion

development

projects

process/pipeline

(1)

2.3x nearest competitor

Thousands of clients, 88% of Fortune 100

FY 2007 revenue of $6.0 billion

FY 2007 normalized EBITDA of $1.0 billion

(2)

Leading

Global Brand

Broad

Capabilities

Scale, Diversity

and Earnings

Power

(1)

As of March 31, 2008

(2)

Normalized EBITDA excludes one-time items, including merger-related costs, integration costs related to acquisitions,

and loss on trading securities acquired in the Trammell Crow Company acquisition.

CB Richard Ellis | Page 4

CBRE 2008 Milestones

First commercial real estate services company in the Fortune

500; Ranked #404

Ranked

#11

among

“Best-in-Class”

companies

World’s Most Powerful Brokerage Firm

World’s Top Brokerage and Property Management Firm

#1 brand for seven consecutive years

Property Advisor of the Year

One of the world’s leading outsourcing companies

#1 Brokerage and Capital Markets Firm

U.S. EPA 2008 ENERGY STAR Partner of the Year

Named to “Companies that Care”

2008 Honor Roll

CB Richard Ellis | Page 5

Environmental Stewardship

Strategy

•

Global Taskforce formed

•

Policy –

“We are committed to

minimizing our environmental impact

and to assisting our clients in doing

the same at their properties”

–

Carbon neutral by 2010

–

Best practices and bias towards green

space (e.g. Washington DC office)

–

Engage 100% of our clients in dialogue

–

Pioneered 100-building portfolio for

LEED Certification

•

Partnerships with NGOs

(e.g., NRDC, USGBC, CCI)

•

Early adopter with announcement in

May 2007

CB Richard Ellis | Page 6

Diversity & Employee Relations

Executive-level Diversity Board

reporting to CEO

Definition:

“Diversity is all the unique

characteristics that make up

every one of us….”

Affinity Groups:

•

Women’s Network (2000)

•

African-American Network

Group (2004)

•

Hispanic Network (2007)

Companies that Care Honor Roll

(2008)

CB Richard Ellis | Page 7

#1 Position in a Fragmented Market

4.4%

2.8%

1.9%

53.2%

25.0%

12.7%

CBRE

C&W

JLL

GBE

Other/Third Party

Self Providers

$27

Billion

U.S.

Commercial

Real

Estate

Market

(1)

Large and growing market—4.2% CAGR 1997-2007

Highly fragmented—top four firms have 21.8% market share

Source: 2007 external public filings and CBRE management estimates as of December 31, 2007

(1)

Excludes global investment management and development services

CB Richard Ellis | Page 8

Groupe Axival, Inc.

CBRE Alberta

CBRE Chile

CBRE Gunne

Paul Gee and Co.

Austin Adams

Dalgleish

Holley Blake

Oxford Property Consultants

DGI Davis George

Grenville Smith and Duncan

Immobiliere Developpement & Gestion

Modus

Sogesmaint

Cederholm

Rietmeijer

Nanninga & Taconis

Rutter & Strutz

Eurisko

Noble Gibbons

IKOMA

CBRE India

EDConsulting

CBRE Italy

Valuation

Services

Easyburo SAS

CPMS

Artequation

Guy Neplaz Conseil

FM Arquitectos

Predibisa

Neoturis

DTZ Queensland

McCann Property and

Planning

Rafter and O’Hagan

DTZ Australia

Bridge Real Estate

pH Group

GVA/Swale Hynes

Realty Marketing

In-Fill Acquisitions 2005 –

Present

Advocate Consulting Group

CBRE Charlotte

Columbus Commercial Realty

Project Advantage

The Polacheck Company

CBRE Hawaii

Marshall & Stevens’

Cost Segregation Businesses

Krombach Partners

CBRE Technical Services

Blackrock Retail Property Advisors

CBRE Pittsburgh

Redford Properties

Redstone Real Estate Advisors

•

52 acquisitions completed for an aggregate purchase price of approximately $474 million.

•

Estimated associated annual revenue of approximately $650 million, which includes the consolidation of the now

majority owned IKOMA and CBRE India.

•

EBITDA margins expected to be consistent with CBRE margins upon full integration.

CB Richard Ellis | Page 10

Global Reach

Q1 2008 TTM

Revenue

Q1 2008 TTM Normalized

EBITDA

(1)

Normalized EBITDA excludes merger-related charges, integration costs related to acquisitions

and the write down of an impaired investment.

Americas

54%

EMEA

26%

Asia Pacific

10%

Global

Investment

Management

Development

Services

Americas

61%

EMEA

22%

Asia Pacific

10%

Global

Investment

Management

Development

Services

Segment Contribution

CB Richard Ellis | Page 11

33%

32%

19%

Property & Facilities Management

Leasing

Sales

Appraisal & Valuation

Investment Management

Development Services

Commercial Mortgage Brokerage

Other

Q1 2008 Revenue Breakdown

($ in millions)

2008

2007

% Change

413.2

307.8

394.5

328.5

227.9

339.0

-33

87.1

80.0

41.0

87.9

-53

26.2

14.6

21.9

40.5

-46

19.1

15.6

Total

1,230.9

1,213.9

Three months ended March 31,

CB Richard Ellis | Page 12

Consistent Long Term Growth

(1)

Average Annual Organic Growth = 12%

($ in millions)

TTM Q1 2008 Pro Forma EBITDA Margin = 16%

(5)

Target EBITDA Margin = 20%

(1)

No reimbursements are included for the period 1992 through 1996,

as amounts were immaterial. Reimbursements for 1997 through 2001 have

been estimated. For 2002 and forward, reimbursements are included.

(2)

Includes TCC activity for the period December 20, 2006 through December 31, 2006.

(3)

Includes revenue from discontinued operations, which totaled $2.1 million for the three and twelve months ended December 31, 2007.

(4)

Normalized EBITDA margin excludes merger-related and other non-recurring costs, integration costs related to acquisitions, one-time IPO-related

compensation expense, gains/losses on trading securities acquired in the TCC acquisition and the write-down of an impaired investment.

(5)

Pro forma EBITDA margin adjusts for $55.2 million of net gains from Development Services activities, which cannot be recognized under purchase

accounting rules.

5.6%

6.6%

7.9%

8.9%

10.6%

11.9%

10.7%

8.4%

9.9%

8.4%

9.6%

10.1%

11.3%

14.4%

16.2%16.1%

15.1%

360

392

429

469

583

759

1,187

1,403

1,518

1,362

1,810

2,647

3,194

4,032

6,036

6,053

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

TTM

2008

Organic Revenue

Revenue From Acquisitions

Normalized

EBITDA

Margin

CB Richard Ellis | Page 13

Capitalization

(1)

Represents notes payable on real estate in Development Services that are recourse to the company. Excludes non-recourse notes

payable on real estate of $512.2 million and $459.4 million at March 31, 2008 and December 31, 2007, respectively.

(2)

Excludes $244.2 million and $255.8 million of non-recourse warehouse facility at March 31, 2008 and December 31, 2007, respectively, as

well as $54.6 million and $42.6 million of non-recourse revolving credit facility in Development Services at March 31, 2008 and December

31, 2007, respectively.

412.7

1,692.8

2,105.5

Total net debt

414.5

3,024.2

3,438.7

Total capitalization

31.5

988.5

1,020.0

Stockholders' equity

383.0

2,035.7

2,418.7

Total debt

0.8

15.0

15.8

Other debt

0.8

6.6

7.4

Notes payable on real estate

300.0

Senior secured term loan A-1

(2.7)

960.0

957.3

Senior secured term loan B

827.0

Senior secured term loan A

84.1

227.1

311.2

Revolving credit facility

(29.7)

342.9

313.2

Cash

Variance

12/31/2007

3/31/2008

($ in millions)

As of

412.7

1,692.8

2,105.5

Total net debt

414.5

3,024.2

3,438.7

Total capitalization

31.5

988.5

1,020.0

Stockholders' equity

383.0

2,035.7

2,418.7

Total debt

0.8

15.0

15.8

Other

0.8

6.6

7.4

Notes payable on real estate

300.0

Senior secured term loan A-1

(2.7)

960.0

957.3

Senior secured term loan B

827.0

Senior secured term loan A

84.1

227.1

311.2

Revolving credit facility

(29.7)

342.9

313.2

Cash

Variance

12/31/2007

3/31/2008

($ in millions)

As of

CB Richard Ellis | Page 14

Debt Maturity

Debt Management:

Projected minimal usage of the revolving credit facility

Continue to analyze interest rate swap opportunities to reduce interest

rate volatility

No major borrowing requirement anticipated

As of December 31,

Maturity

Date

2011

2010

2009

2008

Various

$7.4

Notes Payable on Real Estate

6/24/2011

$32.7

Revolving Credit Facility

Various

$4.8

$13.8

Other Debt

(1)

$1,474.8

$195.0

$927.0

$340.6

$1,846.7

$255.0

$938.0

$632.5

$1,063.2

$135.0

$916.0

12/20/2013

$297.8

Senior Secured Term Loan A-1

$2,127.7

Total

12/20/2013

$949.0

Senior Secured Term Loan B

12/20/2011

$827.0

Senior Secured Term Loan A

(1) Excludes non-recourse debt related to warehouse facility and Development Services real estate activities

CB Richard Ellis | Page 15

Q1 2008 TTM Normalized Internal Cash Flow

Strong cash flow

generator

Low capital intensity

Utilization of internal

cash flow

•

Co-investment

activities

•

Development

•

In-fill acquisitions

•

Debt reduction

•

Share repurchases

463

(79)

(38)

477

(1)

Represents capital expenditures, net of concessions

CB Richard Ellis | Page 17

Reconciliation of Normalized EBITDA to EBITDA to Net Income (Loss)

(1)

Includes interest income related to discontinued operations of $0.01 million for the year ended December 31, 2007.

(2)

Includes depreciation and amortization related to discontinued operations of $0.4 million for the year ended December 31, 2007.

(3)

Includes interest expense related to discontinued operations of $1.8 million for the year ended December 31, 2007.

(4)

Includes provision for income taxes related to discontinued operations of $1.6 million for the year ended December 31, 2007.

($ in millions)

2007

2006

2005

2004

2003

Normalized EBITDA

970.1

652.5

461.3

300.3

183.2

Less:

Merger-related charges

56.9

25.6

36.8

Integration costs related to acquisitions

45.2

7.6

7.1

14.4

13.6

Loss (gain) on trading securities acquired in the

Trammell Crow Company acquisition

33.7

(8.6)

One-time compensation expense related to the

initial public offering

15.0

EBITDA

834.3

653.5

454.2

245.3

132.8

Add:

Interest income

(1)

29.0

9.8

9.3

4.3

3.8

Less:

Depreciation and amortization

(2)

113.7

67.6

45.5

54.9

92.8

Interest expense

(3)

164.8

45.0

54.3

65.4

71.3

Loss on extinguishment of debt

33.8

7.4

21.1

13.5

Provision (benefit) for income taxes

(4)

194.3

198.3

138.9

43.5

(6.3)

Net income (loss)

390.5

318.6

217.3

64.7

(34.7)

Revenue

6,036.3

4,032.0

3,194.0

2,547.1

1,810.1

Normalized EBITDA Margin

16.1%

16.2%

14.4%

11.3%

10.1%

Year Ended December 31,

CB Richard Ellis | Page 18

Reconciliation of Normalized EBITDA to EBITDA to Net Income (Loss)

(1)

Includes activity related to discontinued operations for the three months ended December 31, 2007, including interest

income of $0.01 million, depreciation and amortization of $0.4 million, interest expense of $1.8 million and provision

for income taxes of $1.6 million.

162.8

TTM Q1 2008

($ in millions)

Consolidated

Americas

EMEA

Asia Pacific

Global

Investment

Management

Development

Services

(1)

Normalized EBITDA

912.8

495.2

239.2

87.1

72.8

18.5

Less:

Merger-related charges

25.1

23.8

1.2

0.1

Integration costs related to acquisitions

38.6

36.6

1.9

0.1

Write-down of impaired investment

10.6

EBITDA

838.5

424.2

236.1

87.0

72.8

18.4

Add:

Interest income

27.2

11.8

7.4

0.9

1.2

5.9

Less:

Depreciation and amortization

110.2

72.4

12.6

6.9

3.0

15.3

Interest expense

165.8

134.9

1.2

3.7

3.0

23.0

Royalty and management service (income) expense

(31.3)

21.6

8.1

1.6

Provision (benefit) for income taxes

190.7

107.6

45.3

25.0

17.3

(4.5)

Net income (loss)

399.0

152.4

44.2

49.1

(9.5)

Revenue

6,053.3

3,681.3

1,331.4

592.1

301.8

146.7

Normalized EBITDA Margin

15.1%

13.5%

18.0%

14.7%

24.1%

12.6%

CB Richard Ellis | Page 19

Reconciliation of Net Income to Net Income, As Adjusted

TTM Q1 2008 Results

399

463

Amortization expense related

to net revenue backlog,

incentive fees and customer

relationships acquired

(1)

Integration costs related to

acquisitions

(1)

Merger-related charges

(1)

Write-down of impaired

investment

(1)

Net of tax.