CB Richard Ellis Awarded Global Transaction Management Assignment for Alcan, Inc

Business Wire, Feb 9, 2005

NEW YORK -- CBRE To Oversee Properties in 56 Countries for World's Second Largest Aluminum Provider

CB Richard Ellis (NYSE:CBG), the leading global real estate services firm, has been named preferred real estate provider to Alcan, Inc., the world's second largest producer of primary aluminum and a key supplier to market sectors including aerospace, automotive and packaging products. CBRE will devise, implement and oversee all transaction management activities for Alcan's non-manufacturing facilities throughout the world. Alcan, a leader in most packaging sectors, employs more than 73,000 people in 56 countries.

"After an elaborate and highly contested selection process, Alcan is extremely pleased to have selected CB Richard Ellis as our partner for global real estate transaction services. Our task over the forthcoming months will be to complete a strategic review of Alcan's property holdings in order to put in place a plan that best enhances shareholder value and operating efficiency for our divisions," said Frank Capozzolo, Director Corporate Real Estate and Insurance, Alcan, Inc.

A team of CBRE professionals from Canada, France, Switzerland and the United States will collaborate to deliver real estate services to Alcan. The team is led by Montreal-based Brett Miller and Michele Boutet, who will act as the day-to-day Account Director, reporting directly to Mr. Capozzolo of Alcan.

Alcan, the world's second largest producer of primary aluminum, is ranked No. 1 in tobacco packaging and it is also one of the world's leading metal traders. With pro forma 2003 revenues of US $25.7 billion, Alcan continues to strengthen its global presence in aluminum and packaging and is a force because of its skilled workforce, extensive network of operations, global customer base, innovative market-driven products and advanced technologies.

CB Richard Ellis (NYSE:CBG) is the world's leading commercial real estate services firm (in terms of 2004 revenue). The company serves real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. Including partners and affiliates, CB Richard Ellis has more than 300 offices across 50 countries around the world. Please visit our Web site at www.cbre.com.