Cushman & Wakefield and EC Harris launch Corporate Occupier Solutions Ltd

24 Jul, 2006, London

NEW YORK and LONDON, July 24, 2006 – Cushman & Wakefield, the world's pre-eminent commercial real estate services firm, and EC Harris, a leading international consultancy focused on real estate, infrastructure and construction, announced today the formation of a joint venture company to offer a total service solution for corporate occupiers throughout Europe, the Middle East and Africa (EMEA).

The joint venture company, Corporate Occupier Solutions Ltd, will partner with organisations seeking a single provider for all of their real estate requirements. It provides major corporate occupiers of real estate access to a resource of some 4,000 professionals able to deliver a fully integrated service offering throughout the EMEA.

The company is the first organisation able truly to provide portfolio efficiency, transaction and real estate services and project and facilities management services in a comprehensive manner across EMEA. Currently no other service provider can match the scale, depth of best-in-class services and geographic reach available to major corporate occupiers through this joint venture.

EC Harris has added its market leading management consultancy and project and facilities management capabilities to Cushman & Wakefield's existing best-in-class transaction management skills and facilities management being delivered through Cushman & Wakefield Management Services Ltd. EC Harris has taken a 50% stake in the Cushman & Wakefield subsidiary, and added these skills to create the joint venture, providing a unique proposition to corporate occupiers. Both companies will continue to deliver specific service lines independently of each other.

F. Craig Morris, executive vice president and head of Cushman & Wakefield Client Solutions on a global basis, said: "This strategic move addresses the emergence of the increasingly more complex and geographically dispersed real estate portfolios of our clients. In addition, it represents a continuing focus on supporting the business and occupancy needs of our clients on a multi-geographic and service line basis."

Mr. Morris added that the goal of improved efficiency, combined with the desire for more control over and better leverage of real estate assets, is driving some occupiers of real estate to move to a single service provider for all their real estate needs on a global basis.

Michael Creamer, partner and head of EMEA Client Solutions for Cushman & Wakefield, said: "Together we are a major force able to deliver a significantly enhanced and totally integrated real estate service aimed at improving decision making, risk management and speed to market, all of which are increasingly important in today’s ever-competitive business environment. Our combined resources and extensive geographic reach will also particularly benefit the growing number of corporate occupiers operating in emerging markets across EMEA."

David Sparrow, head of property sector at EC Harris said: "We are able to deliver demonstrable best value from corporate real estate for clients across Europe, providing real portfolio control and influence. This is already proving very attractive to clients in this corporate sector, who are looking for improved Real Estate performance. We fully expect to form similar alliances to address the needs of other property sectors".

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