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2016-12-15

Colliers International Group Inc.: Colliers International Group Expands in Northern California and Nevada

Affiliate Merger Integrates Operations in the West

TORONTO, Dec. 15, 2016 (GLOBE NEWSWIRE) -- Leading global commercial real
estate services firm Colliers International Group Inc. (NASDAQ:CIGI)
(TSX:CIGI) announced today it has signed an Agreement and Plan of Merger (the
"Merger Agreement") with Colliers Parrish International Inc. ("CPI"), the
largest independently owned affiliate of Colliers in the U.S. From offices in
San Jose, Oakland, Stockton, Pleasanton, Redwood City, Fairfield, Mountain
View, Gilroy and Walnut Creek, California, as well as Las Vegas and Reno,
Nevada, CPI's 400 professionals provide a comprehensive suite of services
including investment sales, lease brokerage, capital markets, valuation and
advisory and property management to local, regional, national and
international clients. The transaction is subject to shareholder approval and
other customary conditions. Terms of the transaction were not disclosed.

"Integrating CPI with our existing operations in Northern California
significantly increases our scale and coverage, allowing us to seamlessly and
effectively serve our clients in this important region," said Martin Pupil,
Colliers International President, U.S. Brokerage. "As well, adding another
market leader in Nevada, extends our best in class capabilities into this
important adjacent market."

"We have been part of the Colliers organization for more than two decades and
share a commitment to service excellence," said Andre Walewski, CEO of CPI.
"Our goal has always been to provide the most innovative and enterprising
commercial real estate advisory services to our clients. By integrating our
operations in Northern California and Nevada, and leveraging the size,
capital and established infrastructure of the Colliers global platform, we
will accelerate the success of our clients and create more opportunities for
our people. We are all very excited about this development and our future as
an integral part of Colliers International Group."

"This acquisition is consistent with our strategy to acquire market leaders
throughout the U.S. and follows five other acquisitions completed over the
past year," said Dylan Taylor, President and COO Colliers International.
"These acquisitions further integrate and strengthen our service platform,
reinforcing our business operations in the West and nationally as the firm of
choice for innovative and successful companies, and commercial real estate
professionals seeking an enterprising culture."

About Colliers International

Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIGI) is an industry
leading global real estate services company with more than 16,000 skilled
professionals operating in 66 countries. With an enterprising culture and
significant employee ownership, Colliers professionals provide a full range
of services to real estate occupiers, owners and investors worldwide.
Services include strategic advice and execution for property sales, leasing
and finance; global corporate solutions; property, facility and project
management; workplace solutions; appraisal, valuation and tax consulting;
customized research; and thought leadership consulting.

Colliers professionals think differently, share great ideas and offer
thoughtful and innovative advice that help clients accelerate their success.
Colliers has been ranked among the top 100 outsourcing firms by the
International Association of Outsourcing Professionals' Global Outsourcing
for 11 consecutive years, more than any other real estate services firm.

For the latest news from Colliers, visit Colliers.com or follow us on Twitter:
@Colliers and LinkedIn.

Advisory Regarding Forward-Looking Information

Certain information included in this news release is forward-looking, within
the meaning of applicable securities laws. Much of this information can be
identified by words such as "believe", "expects", "expected", "will",
"intends", "projects", "anticipates", "estimates", "continues" or similar
expressions suggesting future outcomes or events. Colliers believes the
expectations reflected in such forward-looking statements are reasonable but
no assurance can be given that these expectations will prove to be correct
and such forward-looking statements should not be unduly relied upon.

Forward-looking statements are based on current information and expectations
that involve a number of risks and uncertainties, which could cause actual
results or events to differ materially from those anticipated. These risks
include, but are not limited to, risks associated with: (i) general economic
and business conditions, which will, among other things, impact demand for
Colliers' services and the cost of providing services; (ii) the ability of
Colliers to implement its business strategy, including Colliers' ability to
identify and acquire suitable acquisition candidates on acceptable terms and
successfully integrate newly acquired businesses with its existing
businesses; (iii) changes in or the failure to comply with government
regulations; and (iv) such factors as are identified in the Annual
Information Form of Colliers for the year ended December 31, 2015 under the
heading "Risk Factors" (which factors are adopted herein and a copy of which
can be obtained at www.sedar.com). Forward-looking statements contained in
this news release are made as of the date hereof and are subject to change.
All forward-looking statements in this news release are qualified by these
cautionary statements. Except as required by applicable law, Colliers
undertakes no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
COLLIERS CONTACTS:
John Friedrichsen
Chief Financial Officer | Global
(416) 960-9500

Martin Pupil,
President | U.S. Brokerage
(949) 331-3115

Andre Walewski
Colliers Parrish International | CEO
(408) 282-3837

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Colliers International Group Inc. via Globenewswire

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