FOR IMMEDIATE RELEASE

Date: AUGUST, 2004

For more information contact: Bill Thaxton - (619) 280-2600

WELLS FARGO BANK SIGNS LEASE
AT TORREY HILLS MARKET PLACE

San Diego, CA 92130 - Sorrento Hills Market Place, L.P. has leased approximately 5,000 square feet in the Torrey Hills Market Place located at SEC Carmel Mountain Road and E. Ocean Air Drive, San Diego, CA 92130 to Wells Fargo Bank, N.A., doing business as Wells Fargo for a bank.

The lease is for 15 years and a consideration of $1,650,000.60, according to Flocke & Avoyer Commercial Real Estate. The Tenant anticipates an April, 2005 opening.

Bill Thaxton of Flocke & Avoyer Commercial Real Estate represented the Lessor in this transaction. The Lessee was represented by Ron Pepper of Retail Insite.