FOR IMMEDIATE RELEASE

Date: MARCH 2005

FOR MORE INFORMATION: William R. Thaxton, (619) 280-2600

BANK OF AMERICA SIGNS LEASE AT LOKER BUSINESS CENTER

Carlsbad, CA 92008 – Franz-Loker, LLC has ground leased approximately 7,981 square feet in the Loker Business Center located at NWC Palomar Airport Road and W. Loker Avenue, Carlsbad, CA 92008 to Bank of America, N.A. for a bank branch.

The lease is for 20 years and a consideration of $2,987,080.80, according to Flocke & Avoyer Commercial Real Estate. The Tenant anticipates an April, 2006 opening.

Bill Thaxton and Steve Avoyer of Flocke & Avoyer Commercial Real Estate represented the Lessor in this transaction. The Lessee was represented by Gary McCabe and Craig Killman of Jones Lang LaSalle.