News RELEASE

InterMatrix Expands at Bay Tec Center

St. Petersburg, FL -- May 28, 2004: On May 21, 2004 an amendment was signed with InterMatrix, Incorporated (www.engmtx.com) for a renewal and expansion of their lease at Bay Tec Center, a 124,089 sq. ft. office/flex property in St. Petersburg, FL. The eight-building complex is owned and operated by investment advisory firm, KBS Realty Advisors (www.kbsrealty.com). The InterMatrix lease involves an expansion of space from 7,320 sq. ft. to 14,008 sq. ft.

InterMatrix Incorporated operates as Engineering Matrix Inc., and as been providing M/E/P engineering and consulting services throughout the State of Florida since 1985. The company's clientele ranges from public (schools, government, cities) to private (commercial, industrial, health care, religious facilities). The company provides multi-discipline engineering services and documents “in-house” with their team of engineers, designers, and drafters.

"We are pleased to continue to provide quality office space to Engineering Matrix," commented Peter Potrykus, Senior Vice President of KBS Realty Advisors. "We were also pleased with the efforts of John Jenkins of CB Richard Ellis (www.cbre.com), who represented KBS in this transaction.

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.