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10 Jun 2009

Hedge Fund Paulson & Co Buys $100 Million CB Richard Ellis Stock, $50 Million Offering Launch

Real estate services company, CB Richard Ellis Group, Inc. has reached an agreement to sell in a direct placement 13,440,860 shares of its Class A common stock for gross proceeds of approximately $100.0 million, to hedge fund manager Paulson & Co. Inc. on behalf of several of its investment funds and accounts it manages.

In addition, Ellis plans to sell Class A common stock, having an aggregate offering price of up to $50.0 million through J.P. Morgan.

Paulson Investment Company, Inc. is an investment banker for emerging companies nationwide and a full service brokerage firm engaged in the purchase and sales of securities from and to the public and for its own account and in investment banking activities. Paulson Investment Company, Inc. is a wholly owned subsidiary of Paulson Capital Corp., a publicly traded company since 1971, and trades on the Nasdaq Capital Market under the symbol "PLCC".

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