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American International Group, Inc. Selects CB Richard Ellis Group, Inc. to Provide Facilities and Project Management Services for Approximately 17 Million Sq. Ft. Global Portfolio

November 17, 2010

LOS ANGELES, Nov 17, 2010 (BUSINESS WIRE) -- CB Richard Ellis Group, Inc. (NYSE:CBG) today announced that it has been selected by American International Group, Inc. (AIG) to provide facilities, project management and advisory services for AIG's global real estate occupancy portfolio.

The multi-year contract with AIG, one of the world's leading insurance companies, encompasses approximately 17 million sq. ft. CB Richard Ellis' Facilities Management, Project Management and Labor Analytics Consulting groups will furnish services to AIG.

"This partnership with CB Richard Ellis will help AIG to realize significant efficiencies and cost-savings in our business operations worldwide," said Joe Barile, AIG Senior Vice President, Global Corporate Real Estate & Client Services.

"We are very pleased that AIG has entrusted us with its real estate portfolio," said Bill Concannon, president of Global Corporate Services for CB Richard Ellis. "Large organizations around the world are increasingly finding they can take advantage of CB Richard Ellis's scale and global platform to improve their cost equation. We look forward to partnering with AIG's leadership team to help realize the benefits of outsourcing."

CB Richard Ellis signed a record 19 new outsourcing contracts in the third quarter of 2010 and a total of 45 new contracts across the first nine months of the year.

The CB Richard Ellis pursuit team was led by Mitchell E. Rudin, president and chief executive officer of the New York Tri-State Region and Kevin Danehy, executive vice president, Global Corporate Services. Paul Messina will serve as the primary relationship manager for the AIG account, coordinating the work of the Company's professionals in markets around the world.

AIG is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer.

About Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2009 revenue). The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. 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. Please visit our Web site at www.cbre.com.

SOURCE: CB Richard Ellis Group, Inc.

CB Richard Ellis Group, Inc.
Robert McGrath, 212-984-8267
Robert.mcgrath@cbre.com

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