News RELEASE

Mark Brecheen Joins KBS as Senior Vice President and Asset Manager

Newport Beach, CA -- July 19, 2004: KBS Realty Advisors, one of the nation’s leading commercial real estate investment advisors announced that Mark Brecheen has joined the firm in its Newport Beach office. Mr. Brecheen will be responsible for putting into action an operational plan that will add value to assets under management with an eye toward achieving and exceeding investment-underwriting goals. Specifically, Mr. Brecheen will be managing KBS-owned properties located in Colorado and Houston, TX.

Mr. Brecheen has 15 years of commercial real estate experience combining a broad range of skills including acquisitions, dispositions, portfolio management and underwriting. Prior to joining KBS, Brecheen was an officer with PGP Partners, a Southern California-based commercial real estate firm with a management portfolio of nine million square feet.

Mr. Brecheen earned a B.A. in Finance and Real Estate from California State University Fullerton and his MBA from Chapman University in Orange, CA.

Headquartered in Newport Beach, CA, KBS Realty Advisors (www.kbsrealty.com), 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 approximately $5 billion on behalf of its clients.

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.