News RELEASE

KBS Renews 46,000 SF at Waterpark in Aurora

Aurora, CO -- May 19, 2005: KBS Realty Advisors (www.kbsrealty.com) announced recently it had signed two renewal leases totaling over 46,000 sq. ft. at Waterpark II & III in Aurora, CO. The State of Colorado Dept. of Disability Determination Services has renewed a 36,000 sq. ft. lease at Waterpark II and Wells Fargo Bank renewed 10,533 sq. ft. for a retail branch office at Waterpark III.

The two six-story office towers are nearly identical in size and total 210,838 sq. ft. overall. KBS has owned the two office towers since 1999; the average occupancy for the two buildings is currently 94%. The renewal lease to the State of Colorado was signed on February 1, and commences on July 1, for a term of seven years. The Wells Fargo lease was signed on April 5, with a commencement on October 1, for a term of five years.

"We are very pleased to have the opportunity to extend the great relationship we have had with the State of Colorado and with Wells Fargo Bank by providing them with quality office and retail space," commented Mark Brecheen, Senior Vice President for KBS Realty Advisors. "We were also pleased with the efforts of Kevin McKinnon and Jonathan Jones of Transwestern Commercial Services (www.transwestern.net) who brokered these transactions on behalf of KBS. We also wish to thank Bernie Martin with Corporate Planners and Coordinators who represented the State of Colorado and Jamie Gard with Fredrick Ross Company (www.frederickross.com) who represented Wells Fargo."

About the Colorado DDS
The Colorado Disability Determination Services (DDS) is the State Agency that makes the disability decisions for Social Security and Medicaid. The DDS occupies two floors at Waterpark II, with Administrative offices on the fifth floor.  The organization employs approximately 75 disability examiners, 25 physicians, and 40 administrative and clerical staff.  The Colorado DDS makes medical decisions on about 32,000 claims per year.

About Wells Fargo
Wells Fargo & Company (www.wellsfargo.com) is a diversified financial services company with $436 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, “Aaa,” from Moody’s Investors Service.

About KBS
Headquartered in Newport Beach, CA, KBS Realty Advisors (www.kbsrealty.com) is a premier real estate investment firm that has invested over $5 billion since the company’s inception in 1992. KBS was founded and is operated by Peter Bren, President and Chairman and Charles J. Schreiber, Jr., CEO. KBS has offices in Newport Beach, San Francisco, Chicago, Boston, New York and Washington, DC.