4 2003-07-23 1 0001067462 INSIGNIA FINANCIAL GROUP INC /DE/ IFS 0001191803 COHEN JEFFREY P 0 1 0 0 Executive Vice President Common Stock 2003-07-23 4 J 0 17082.2533 11.156 D 0 D Stock Options (Right to Buy) 12.625 2003-07-23 4 J 0 10000 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. 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