BED Bedford Property Inv

Bedford Property Investors, Inc. (NYSE:BED) announced today the signing of a lease for 22,026 square feet in its Time Square project, at 500 SW 39th Street, Renton, Washington. The ten-year lease is with a national education company. The lease is to commence at the end of the fourth quarter 2005. "With this lease we have commenced Phase III of our Time Square redevelopment project and have leased 84,516 square feet in this five-building rehabilitation project this year. We're very pleased with the success we've experienced in our leasing program at Time Square," said Peter B. Bedford, Chairman of the Board and Chief Executive Officer. "With the addition of this tenant, the five building property will be 33% leased." Bedford Property Investors is a self-administered equity real estate investment trust (REIT) with investments in suburban office buildings and industrial properties concentrated in the western United States. It is traded on the New York Stock Exchange and the Pacific Exchange under the symbol "BED" and its web site is www.bedfordproperty.com. Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs, including, among other things, the company's expectations regarding the commencement time of the lease. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results, performance or achievements to be materially different from those expressed, expected or implied by the forward-looking statements. The risks and uncertainties that could cause our actual results to differ from management's estimates and expectations are contained in the company's filings with the Securities and Exchange Commission, including its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The company does not undertake to update forward-looking information contained herein or elsewhere to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.