4 2003-07-23 1 0001067462 INSIGNIA FINANCIAL GROUP INC /DE/ IFS 0001067968 GILBERT ADAM B 0 1 0 0 Executive Vice President Common Stock 2003-07-23 4 J 0 10000 11.156 D 0 D Common Stock 2003-07-23 4 J 0 250 11.156 D 0 I By daughter Stock Options (Right to Buy) 12.625 2003-07-23 4 J 0 20000 12.625 D 1988-08-08 2004-03-22 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. 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