Exhibit 3
BLUM CB Corp.
c/o BLUM Capital Partners, L.P.
909 Montgomery Street, Suite 400
San Francisco, California 94133
(415) 434-1111
December 1, 2000
Board of Directors
CB Richard Ellis Services, Inc.
200 North Sepulveda Boulevard
El Segundo, California 90245-4380
Attention: Stan Anderson and Paul Leach
Dear Sirs:
Reference is made to our letter to you dated November
10, 2000 containing a proposal by the undersigned (the "Proposal")
to purchase all of the common stock of CB Richard Ellis Services,
Inc. not owned by the offering group identified therein for
consideration of $15.50 in cash per share (the "Transaction")
on the terms and subject to the conditions set forth therein.
We hereby extend the Proposal until 5:00 p.m., San Francisco time,
on December 31, 2000, after which time, unless earlier accepted,
we reserve the right to terminate the Proposal at any time. Other
than this extension, the terms and conditions of the Proposal
remain the same. Please contact Claus J. Moller (415-288-7262
or 212-521-4190) to respond to our offer, or if you or your
counsel require any additional information.
We look forward to discussing our offer with you as soon
as possible and entering into a definitive merger agreement and
consummating the Transaction on an expedited basis.
Sincerely yours,
BLUM CB CORP.
By: /s/ Claus J. Moller
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Name: Claus J. Moller
Title: President
