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Bullock Promoted to Vice President

WEST DES MOINES, Iowa (July 27, 2005) – CB Richard Ellis/Hubbell Commercial, the largest commercial brokerage company in Iowa, announced the promotion of one of its senior associates, Heath Bullock, to Vice President. Kyle Gamble, Senior Vice President for CB Richard Ellis/Hubbell Commercial, states, “Heath has consistently performed at the highest of standards. He exemplifies the dedication and quality of service that can be expected from a CB Richard Ellis/Hubbell Commercial associate.” Heath Bullock, CCIM, SIOR, has been at CB Richard Ellis/Hubbell Commercial for over five years. He has worked with such clients as Magnum Resources Inc. and Nationwide Mutual Insurance Company. Heath has completed multiple large leasing assignments for his clients and has participated in the disposition of significant assets throughout the Des Moines market. ABOUT CB RICHARD ELLIS/HUBBELL COMMERCIAL CB Richard Ellis/Hubbell Commercial is a CB Richard Ellis partner office serving Iowa. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; investment management; valuation and appraisal; research and investment strategy; and consulting. CB Richard Ellis/Hubbell Commercial is the leading commercial brokerage company in Iowa, and through its affiliation with CB Richard Ellis (NYSE:CBG) is part of the world’s leading commercial brokerage real estate services company. CB Richard Ellis/Hubbell Commercial is headquartered at 6900 Westown Parkway in West Des Moines. For more information, call (515) 224-4900, or visit www.cbrehc.com Headquartered in Los Angeles, CB Richard Ellis (NYSE:CBG) is the world’s leading commercial real estate services firm (in terms of 2004 revenue). Including partners and affiliates, CB Richard Ellis has more than 300 offices across 50 countries around the world. For more information, visit www.cbre.com. Always breaking new ground since 1850, Hubbell Realty Company has been a catalyst for growth in Greater Des Moines. Hubbell Realty Company is a leading commercial and residential developer and commercial property management firm, with 5 residential communities and six business parks located across the metro. ### -30-

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