DTZ NZ Appoints New Chairman

FOR RELEASE

1 June 2005

DTZ NZ Appoints New Chairman

DTZ New Zealand has appointed Christchurch based Murray Ellis as its new Board Chairman. Ellis is General Manager of DTZ’s South Island operations and has been with the company since 2002 and previously with Knight Frank NZ.

Former Chairman, Arthur Stewart, is stepping down after three years in the role but will remain on the Board of Directors and continue as a Senior Valuer and Consultant.

DTZ New Zealand was formed in April 2002 when DTZ Darroch purchased the assets and liabilities of Knight Frank. Since then the company has experienced a major growth phase expanding from 45 people with a turnover of $6M in the DTZ Darroch days to a company currently employing 175 people with a projected turnover of $20M expected for 2005.

With a property career spanning some 35 years, Ellis’ background includes a variety of roles in the former Department of Lands & Survey culminating in the position of Commissioner of Crown Lands for Westland. He later established Land Corporation Limited for Otago / Southland before moving from Invercargill to Christchurch as South Island Manager for the State Owned Enterprise, Landcorp Property Limited. He joined Knight Frank NZ in 1995.

Ellis has Real Estate Institute Branch Manager status and has been a registered valuer since 1973 and a registered member of the New Zealand Institute of Primary Industry Management for over 20 years. He has many board memberships to his credit including the former Manawatu and Westland Catchment Boards, various National Park, Reserve, Conservation Boards and Land Settlement Committees. Active on the sporting as well as business fronts, Ellis was a Director on the Board of the Canterbury Rugby Football Union for 5 years and is currently a Director of the Crusaders Super 12 Rugby Franchise Board.

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