4 2003-07-23 1 0001067462 INSIGNIA FINANCIAL GROUP INC /DE/ IFS 0001047442 SIEGEL STEPHEN B 1 1 0 0 President Common Stock 2003-07-23 4 J 0 99650 11.156 D 0 D Common Stock 2003-07-23 4 J 0 350 11.156 D 0 I By son Stock Options 12.625 2003-07-23 4 J 0 100000 12.625 D 1988-08-08 2004-03-21 Common Stock 0 0 D Disposed of pursuant to the amended and restated merger agreement among issuer, CBRE Holding, Inc., CB Richard Ellis Services, Inc. and Apple Acquisition Corp. for consideration of $11.156 per share. The reporting person disclaims beneficial ownership of these securities and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 or for any other purposes. Options were out-of-the-money and cancelled pursuant to the amended and restated merger agreement among issuer, CBRE Holding, Inc., CB Richard Ellis Services, Inc. and Apple Acquisition Corp. The reporting person received no consideration for these options. /s/ Yvonne Owens 2003-07-24