WESTERN STATES TECHNOLOGIES ACQUIRES

$4.3 MILLION IRVINE SPECTRUM PROPERTY

IRVINE, CALIF. – The Irvine office of Western States Technologies Inc., a Los Angeles-based real estate investment company, has announced the acquisition of a $4.3 million office building in Irvine Spectrum 5.

Located at 34 Bunsen in Irvine, the 38,000-square-foot building was purchased from Fardin Mostafavi of Irvine. According to Todd P. Miller, vice president of Western States Technologies, the property is currently leased to ABX Diagnostics Inc. ABX Diagnostics is a wholly-owned subsidiary of ABX Diagnostics, S.A., of Montpellier, France, which markets hematology blood analyzers to medical laboratories, hospitals, physician offices and veterinarian laboratories.

Known as the “international center for research, technology and business,” Irvine Spectrum 5 is also home to Auto Nation, 24-Hour Fitness and Harley Davidson.

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WESTERN STATES TECHNOLOGIES ACQUIRES $4.3 MILLION IRVINE SPECTRUM PROPERTY – PAGE TWO

J.R. Williamson and Ron Elvin of the Irvine office of the Nathan Howard Group represented Western States Technologies in the transaction, with John Matus, Christine Bowen and Eric Warfield of Lee and Associates’ Irvine Spectrum office representing the seller.

Western States Technologies Inc. was established in 1985 in Los Angeles. The company concentrates on the successful development, acquisition and rehabilitation of industrial and office properties. Currently, the company owns and manages a mixed-use portfolio totaling more than one million square feet with more than 100 tenants in Los Angeles, Orange, Riverside and San Bernardino counties. By incorporating its strong, hands-on asset management approach, the company has averaged occupancy rates of more than 97 percent portfolio-wide over the past five years.

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WST/Releases/Spectrum

The news release, “Western States Technologies Announces $8.4 Million in New Real Estate Transactions” was distributed on February 11, 2000 to the following:

Publication Contact

California Real Estate Journal Julia Nakashima

Commercial Real Estate Investment Journal Catherine Simpson

Commercial Property News Mari Nagasawa – email

Corporate Finance Geoffrey Smith

Corporate Financing Week Victoria Zunitch

Corporate Real Estate Executive Kathleen Dempsey

Crittenden Juan Sierra

Irvine Spectrum News Warren Esterline

Irvine Citizen Bruce Murray

Irvine World News Don Dennis

Los Angeles Business Journal Elizabeth Hayes

Los Angeles Times Jesus Sanchez

Daryl Strickland

Roger Vincent

National Real Estate Investor Melanie Gibbs

OC Metro Kevin O’Leary

Office & Industrial Properties Edward McNeill

Orange County Business Journal Murray Coleman

Orange County Register Jennifer Hieger

Real Deals

Orange County Report Art Barrett

Professional Report Linda Nasvaderani

Real Estate Alert David Mark (via fax)

Real Estate Finance Today Francis Chu

Real Estate Forum Michael Desiato

Renttv.com Steve Bloom

Site Selection Tim Venable

Southern California Land Barry Fain

South County Business Digest Brigit Bush

South County News Cathy Lawhon

Western Real Estate News John Shuman -- email

Cc: Todd Miller

Todd Venturelli

Pacific Clipping Service

Allen’s Clipping Service

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