News RELEASE

KBS Realty Advisors Opens San Francisco Office

Peter Mette Joins Team as Senior Vice President

San Francisco, CA -- February 14, 2005: Commercial Real Estate Investment Advisor, KBS Realty Advisors (www.kbsrealty.com) is opening an office in San Francisco, CA, expected to be operational on March 1, 2005. The office is located at 201 California Street in the heart of San Francisco's Financial District.

In conjunction with the new office, KBS has hired Peter Mette as a senior vice president. Peter will staff the San Francisco office responsible for real estate acquisitions and dispositions in Northern California and the Pacific Northwest. Prior to joining KBS, Mr. Mette served as an investment officer for MetLife for five years.

"We are expanding our acquisitions team to handle the large volume of transactions required by our investors," commented KBS Regional President, Bill Milligan. "We are especially excited to welcome Peter Mette to our team. Peter has over 14 years of commercial real estate experience and brings with him a wealth of market knowledge of the San Francisco and Sacramento markets, as well as the entire Pacific Northwest. Peter is a hard-working, insightful professional who will be a valuable asset to our team."

In addition to opening an office in San Francisco, the company is also making immediate plans to open offices in Chicago and Washington, DC.

Headquartered in Newport Beach, CA, KBS Realty Advisors is a premier investment management firm specializing in domestic real estate investments on behalf of select private and public pension fund, endowment and foundation partners. Founded in 1992, KBS has invested nearly $5 billion on behalf of its clients.