Benfield Locks In at Glenborough's 201 California

Market Wire, July, 2008

Glenborough, LLC, a San Mateo, CA real estate investment and management company specializing in office properties, is pleased to announce a new long-term lease agreement for its 201 California property in San Francisco, CA.

Benfield is the world's leading independent reinsurance and risk intermediary based in London, England. Founded in 1973, the company has grown to include 2,000 team members and over 50 offices located in all the major markets throughout the world. Per their new agreement, they will continue to occupy 14,550 square feet at 201 California through 2013. Steve Anderson and Bryan Ivie of the CAC Group brokered the agreement for Glenborough. The tenant was represented by Jay Scholl of CBRE.

201 California is a 17-story Class "A" multi-tenant office building situated in the heart of San Francisco's financial district. It offers close proximity to retail establishments, hotels, clubs, fine restaurants and entertainment and public transportation -- plus dramatic projecting bay windows on floors 2-15 that provide views to California Street, Market Street and the top of Nob Hill.

For leasing information, contact Michael McCormac at (650) 343-9300 or michael.mccormac@glenborough.com .

About Glenborough, LLC

Glenborough, LLC is a real estate investment and management company with 30 years of industry experience. Formerly a NYSE listed real estate investment trust, the company returned to its private roots in 2006. Glenborough is focused on the acquisition, management, leasing and development of high quality office properties and currently has over $2.8 billon of assets under management, including core, value add and development properties. The company's primary investment markets are Northern California, Southern California, Denver and Washington, D.C. For further information, visit www.glenborough.com .

Contact: Andrew Batinovich President and CEO Phone: 650.343.9300 e-mail: Email Contact Glenborough, LLC 400 South El Camino Real San Mateo, CA 94402-1708