4 2003-07-23 1 0001067462 INSIGNIA FINANCIAL GROUP INC /DE/ IFS 0001047429 ASTON JAMES A 0 1 0 0 Chief Financial Officer Common Stock 2003-01-02 5 G 0 E 3000 0 D 54916.8942 D Common Stock 2003-01-02 5 G 0 E 3000 0 A 8934 I By children Common Stock 2003-07-23 4 J 0 54916.8942 11.156 D 0 D Common Stock 2003-07-23 4 J 0 8934 11.156 D 0 I By children Common Stock 2003-07-23 4 J 0 129 11.156 D 0 I IRA Warrants (Right to Buy) 8 2003-07-23 4 J 0 200000 8 D 1988-08-08 2005-01-14 Common Stock 0 0 D Stock Options (Right to Buy) 12.625 2003-07-23 4 J 0 50000 12.625 D 1988-08-08 2014-03-21 Common Stock 0 0 D Gift to children who share reporting person's household. The reporting person disclaims beneficial ownership of the shares held by his children and this report should not be deemed an admission that the reporting person is the beneficial owner of his children's shares for the purposes of Section 16 or for any purposes. 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. Warrants 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 an aggregate consideration equal to the excess of the merger consideration of $11.156 per share over the exercise price of the warrants, multiplied by the number of warrants owned by the reporting person. 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 Attorney-in-fact 2003-07-24