Glenborough Announces Retirement of Fred Fellows, Senior Property Manager

San Mateo, CA, March 13, 2008: Fred Fellows, Senior Property Manager for Glenborough, LLC, retired on February 29, 2008. During his 22 year career with Glenborough, Mr. Fellows worked in various capacities, including leasing and property management. At the time of his retirement, Mr. Fellows was Senior Property Manager for the company’s Orange County portfolio, which includes Centerstone Plaza in Irvine; Newport Plaza in Newport Beach; Saddleback Financial Center in Laguna Hills; and, Oceanview Medical Center in San Clemente.

Julie Alexander, who worked with Mr. Fellows since joining Glenborough in July, 2007, will take over the management duties for Glenborough’s Orange County portfolio. Ms. Alexander has been in the commercial real estate industry since 1999. She was a property manager with CB Richard Ellis as well as with Mammoth Equities.