GFI Colliers Launches Property Derivatives in Hong Kong

GFI Colliers Launches Property Derivatives in Hong Kong

October 18, 2006

Potential to `revolutionise' HK$320bn annual turnover residential property market.

    NEW YORK, Oct. 18 /Xinhua-PRNewswire/ -- "GFI
Group Inc. (GFIG on Nasdaq), a leading inter-dealer broker
and Colliers International, a leading real estate
consultancy, have partnered in a Hong Kong property
derivatives joint venture. The venture, referred to as GFI
Colliers, provides broking services in property derivatives
to banks, funds and property companies."

    A Hong Kong residential property index based on repeat
sales will support the market. This index was created and
will be maintained by the University of Hong Kong's
Department of Real Estate and Construction.

    The broking desk at GFI Colliers will be staffed by
Stephen Moore and Christiaan van Beek. Mr. Moore has worked
for GFI in both London and Hong Kong, most recently in Asian
dollar bond markets. Mr. van Beek moves from Colliers
International's commercial leasing division in Hong Kong.

    Piers Brunner, managing director of Colliers
International Hong Kong said, "The Hong Kong real
estate market is huge - the average annual turnover across
all residential areas is around HK$320bn. Colliers
International, working closely with GFI, can positively
contribute in the development of a derivatives market on
property prices, bringing the full depth of our local
expertise as much as our access to a global network."

    "GFI has been a prime mover in UK property
derivatives and we intend to replicate this success in Hong
Kong", said, Jurgen Breuer, GFI's senior managing
director, Asia. "Derivatives will add a new dimension
to this already thriving market. GFI believes they will
enable faster, cheaper and more effective execution of
asset allocation strategies, short-term hedges, risk
transfer and geographical diversification, thus
revolutionizing property investment in Hong Kong."

    Neither Colliers International nor GFI Group will take
a principal position in derivatives trades arranged by GFI
Colliers.

    About GFI Group Inc. ( http://www.GFIgroup.com )

    GFI Group Inc. ( http://www.GFIgroup.com ) is a leading
inter-dealer broker specializing in over-the-counter
derivatives products and related securities. GFI Group Inc.
provides brokerage services, market data and analytics
software products to institutional clients in markets for a
range of credit, financial, equity and commodity
instruments. 

    Headquartered in New York, GFI was founded in 1987 and
employs more than 1,300 people with additional offices in
London, Paris, Hong Kong, Tokyo, Singapore, Sydney and
Englewood (NJ) and Sugar Land (TX). GFI provides services
and products to over 1,700 institutional clients, including
leading investment and commercial banks, corporations,
insurance companies and large hedge funds. Its brands
include GFI(TM), Starsupply (R), GFInet (R), CreditMatch(R)
and FENICS (R). 

    About Colliers International. ( http://www.colliers.com
)

    Colliers International is one of the leaders in
providing property knowledge solutions and services to its
clients in over 240 offices in 51 countries across six
continents. Colliers offers a full range of property
services: sales, leasing, property and project management,
valuation, research and consultancy. The firm's expertise
stretches from general agency services in the commercial,
industrial, retail and residential sectors to specialized
support, such as hotels and leisure property brokerage and
consultancy to facilities management.
 
    Colliers International global network ensures both an
international perspective and an in-depth local knowledge
of the changes sweeping regional property markets. Through
its alliance, Colliers is supported by over 9,300 property
experts and extensive property and client databases,
enabling our professionals to access property opportunities
worldwide and to pursue client interests in a cost-effective
manner.

    Forward-looking statement    

    Certain matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this
press release, the words "anticipate,"
"believe," "estimate," "may,"
"might," "intend," "expect"
and similar expressions identify such forward-looking
statements. Actual results, performance or achievements
could differ materially from those contemplated, expressed
or implied by the forward-looking statements contained
herein. These forward-looking statements are based largely
on the expectations of the Company and are subject to a
number of risks and uncertainties. These include, but are
not limited to, risks and uncertainties associated with:
economic, political and market factors affecting trading
volumes, securities prices or demand for the Company's
brokerage services; competition from current and new
competitors; the Company's ability to attract and retain
key personnel, including highly-qualified brokerage
personnel; the Company's ability to identify and develop
new products and markets; changes in laws and regulations
governing the Company's business and operations or
permissible activities; the Company's ability to manage its
international operations; financial difficulties experienced
by the Company's customers or key participants in the
markets in which the Company focuses its brokerage
services; the Company's ability to keep up with
technological changes; and uncertainties relating to
litigation. Further information about factors that could
affect the Company's financial and other results is
included in the Company's filings with the Securities and
Exchange Commission. The Company does not undertake to
publicly update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise. 

    For more information, please contact:

     Alan Bright
     PR Manager, GFI Group
     Tel:   [phone]
     Email: [e-mail]

SOURCE  GFI Group Limited