News RELEASE

Ciena Signs 42,000 SF at Nagog Office Park

Acton, MA -- March 15, 2004: Ciena Corporation (NASDAQ : CIEN) one of the nation's leading computer network solutions providers, has recently signed a 42,000 SF lease at Nagog Office Park in Acton, MA. The lease was signed on February 23, 2004 and included a 34,700 sq. ft. renewal and 7,300 sq. ft. expansion for a term of five years. The Ciena Corp. office location in addition to 13 other buildings in Nagog office park, are owned and operated by investment advisory firm, KBS Realty Advisors (www.kbsrealty.com). The property is located in Boston's high tech corridor and has a track record of attracting emerging and established tech-oriented companies.

Ciena Corp. (www.ciena.com) is a global provider of intelligent network and service solutions and helps some of the world’s largest networks maximize their data production services for emerging market opportunities. Ciena also helps companies with service customization for a wide range of enterprise applications, as well as increasing efficiency through network convergence and automation.

"We are very pleased to continue to provide quality office space and meet the expanding space needs for Ciena," commented KBS Senior Vice President, Charlie Valentino. "We were also pleased with the outstanding efforts of Brian McKenzie with Richards Barry Joyce & Partners (www.rbjrealestate.com) who represented KBS in this transaction. We were also pleased to work with John Wilson of the same firm who represented the tenant.

Headquartered in Newport Beach, CA, KBS Realty Advisors is a premier investment management firm specializing in real estate investments on behalf of select private and public pension fund, endowment and foundation partners. Founded in 1992, KBS has invested approximately $5 billion on behalf of its clients. KBS specializes in purchasing and repositioning under-performing real estate and real-estate related assets in the United States.