News Release

EJM Development Announces First Tenant in Phase A of The Arroyo Corporate Center

Stantec Consulting, Inc. Signs Five-Year Lease in Class A Office Space in Southwest Las Vegas

September 17, 2008 (Las Vegas) - EJM Development, Inc. today announced Stantec Consulting, Inc. is the first tenant in the developer's Class "A" office project, Arroyo Corporate Center, part of its 450-acre master-planned mixed use development, The Arroyo, located in southwest Las Vegas.

Stantec Consulting, Inc., a civil engineering firm with more 100 locations nationwide, signed a five-year, three-month lease for a 15,103 square foot office on the first floor of Building One, 5895 South Tenaya Way, Suite 110. The lease transaction is valued at $2,637,692. Randy Broadhead of CB Richard Ellis represented the landlord, and Brad Peterson of CB Richard Ellis represented the tenant. Arroyo Corporate Center - Phase A is a Class "A" office project consisting of two buildings, which are currently under construction with a scheduled completion date of December 2007. Building One is a two-story building totaling 50,000 square feet, and Building Two is a three-story, 75,000 square-foot building.

Arroyo Corporate Center is part of 'The Arroyo,' a 450-acre master planned mixed use development consisting of Class "A" Office space, single story office, industrial space, and retail, which includes the Arroyo Market Square currently under construction at I- 215 and Rainbow Boulevard. The Arroyo is centered on a natural arroyo, and offers a walking beltway along the arroyo that runs through the property, with interconnecting foot bridges and seating throughout. Strategically located along the I-215 beltway between Buffalo and Rainbow, The Arroyo is positioned for easy access to McCarran International Airport, the Las Vegas Strip and Interstate 15.

EJM Development is involved in all aspects of real estate, including land acquisition, subdivision, zoning, planning, development, marketing and management. The privately owned company is headquartered in Los Angeles with satellite offices in Nevada, Arizona, New Mexico and Utah.

EJM currently has more than three and half million square-feet of space developed in Las Vegas. EJM Development properties include Arrowhead Commerce Center, Spencer Helm Business Center, Century Park at Russell Road and I-15, and Warm Springs Business Center Phase I and II.

CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2006 revenue). With more than 24,000 employees, the company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices). 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. In 2007, BusinessWeek named CB Richard Ellis one of the 50 "best in class" companies across all industries. For more information, visit www.cbre.com.

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