27 Disclosures of interests and related parties

Mr John Ritblat has an effective 4.65% equity interest and is non executive chairman of Fitzhardinge PLC, which is the holding company of Colliers CRE who are amongst the Group’s managing agents and as such receive fees for their services. During the year, fees of £5,000 were paid to Olswang, fees of £72,656 were paid to Hammonds and fees of £27,088 (2003: £63,809) were paid to D J Freeman, firms in which Michael Cassidy was a partner during the year, for legal advice on property transactions.

Details of transactions with joint ventures including debt guarantees by the company are given in notes 12 and 26. During the year the Group received management fees of £0.9m (2003: £1.3m) from joint ventures.