News RELEASE

KBS Sells International Plaza I & II

Philadelphia, PA, March 18, 2003: KBS Realty Advisors recently announced the sale of International Plaza I & II, two office buildings totaling 481,928 sq. ft. and located in Philadelphia, PA. The sale was consummated on Tuesday, March 18, 2003.

KBS still owns two land parcels at the site with a sale planned for the middle of this year. International Plaza is the only remaining asset in commingled K/B Opportunity Fund II. The property was purchased in July 1995 on behalf of the investors in this fund.

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 in excess of $4.5 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.