Bedford Property Investors Makes Announcement

Business Wire, Dec 24, 1998

LAFAYETTE, Calif.--(BUSINESS WIRE)--Dec. 24, 1998--Bedford Property Investors, Inc. (NYSE:BED) announced today that Ms. Hanh Kihara, formerly Controller of the Company, will be assuming the duties of Chief Financial Officer effective January 1, 1999.

Scott Whitney, Chief Financial Officer, has announced his resignation from the Company. Whitney plans to return to his home in Florida to pursue personal interests and to spend more time with his family. He has agreed to continue to work with the Company during the first quarter of 1999 to assist in a transition.

Peter Bedford, Chairman and Chief Executive Officer said that "Scott has done an excellent job for us during his time here, and we wish him well in his future endeavors." Bedford also indicated that "Ms. Kihara is a long-time Bedford employee who understands our systems, procedures, and financial reporting. She will be a great addition to our Senior Staff."

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 and Pacific Exchanges under the symbol "BED" and its web site is www.bedfordproperty.com.