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                                                                       Jan. 15, 2003

For More Information:
Donna Hahn
Hahn Communications
(949) 458-3983
hahnmarketing@mailatlanta.net

WESTERN STATES TECHNOLOGIES INC. BITES INTO SAN DIEGO MARKET WITH VIPER WAY ACQUISITION

SAN DIEGO, CALIF. - The Irvine, Calif., office of Western States Technologies Inc., a Los Angeles-based real estate investment firm, has announced the purchase of 10547 Viper Way in the Mira Mesa Business Park, marking the company's first acquisition in San Diego. The industrial corporate headquarters property was acquired from N&E Devco, LLC, based in San Diego, Calif., for $4 million.
The two-story, 32,000-square-foot property enjoys 250 feet of prominent footage along Mira Mesa Boulevard, a key transportation route in the northeast corridor of San Diego. The concrete, tilt-up facility features a substantial glass line and provides both corporate office and industrial/warehouse facilities. Located two miles east of the confluence of the Interstate 5 and 805 Freeways, the property is located directly across from a community retail development and hotel complex along Mira Mesa Boulevard. Qualmag, a leading manufacturer of electrical components, occupies 100 percent of the space.
According to Greg Robison, a vice president of Western States Technologies with responsibility for the firm's San Diego acquisitions, the company is seeking similar investment opportunities in the region.
"We are very pleased to enter the San Diego market with such a well-positioned investment, and look forward to growing our operations there through additional real estate acquisitions," Robison said. "We believe this property will continue to demonstrate strong demand, given its prominent location within the Mira Mesa Business Park and excellent access to the 5 and 805 Freeways."
Bill Dolan of the San Diego office of CB Richard Ellis represented Western States Technologies in the acquisition. The seller was represented by Jerry Sarazin, based in Colliers International's Carlsbad, Calif., office.
Western States Technologies was established in 1985 in Los Angeles. The company concentrates on the successful development, acquisition and rehabilitation of industrial and office properties. Currently, Western States Technologies owns and manages a mixed-use portfolio totaling more than one million square feet in Los Angeles, Orange, Riverside, San Bernardino and San Diego counties.
The company's tenants include such global business leaders as Archos, Baxter Pharmaceutical, Dow Chemical, Gerber Technologies, International Paper, Jacuzzi, Kaiser Aerospace, MCI WorldCom, Mikasa, Oakley, R.C. Cola, Rockwell International and Union Carbide, among others. 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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