First interbank US commercial real estate trade

New York - 28 March 2007

GFI brokers swap

CBRE/GFI, a collaboration between GFI Group (Nasdaq: GFIG) and CB Richard Ellis, has brokered the first interbank US commercial real estate derivative transaction.

The counterparties to the trade were both major international banks.
"I believe real estate derivatives will prove to be a very efficient way to either hedge or gain exposure to property. I anticipate that this will be the first of many trades as the benefits of derivatives on real estate become more widely understood", said Philip Barker, vice president, real estate derivatives, at CBRE/GFI.

GFI, working with CB Richard Ellis in Europe and Colliers International in Asia, is a leader in developing real estate derivatives markets globally.

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