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MPG Office Trust Series A Preferred Stockholders Elect Two Directors at Yesterdaya?s Special Meeting

^{Published on 2011-02-03 16:40:47 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--MPGOfficeTrust, Inc. (NYSE: MPG), a SouthernCalifornia-focused real estate investment trust, today announced that, at a Special Meeting held yesterday, holders of the Companya™s 7.625% Series A Cumulative Redeemable Preferred Stock voted to elect two directors to its Board of Directors. Messrs.Rob Deutschman and EdwardJ.Ratinoff will each serve as a director for a one-year term or, if earlier, until his successor is duly elected and qualifies, or until the full payment (or setting aside for payment) of all dividends on the SeriesAPreferredStock that are in arrears, as well as dividends for the then current period.

Mr.Deutschman has served as a managing director at the investment banking firm CappelloCapital Corp. since 1999. Since 2004, Mr.Deutschman has served as the vice chairman of the Board of Directors of Enron Creditors Recovery Corp. (formerly Enron Corp.), a position he assumed upon the companya™s 2004 emergence from bankruptcy. Mr.Deutschman also serves on the Board of the RAND Center for Corporate Ethics and Governance. Mr.Deutschman has a law degree from Columbia University School of Law and a BA in political science from Haverford College.

Mr.Ratinoff has served as a Managing Director and Head of Acquisitions for Phoenix Realty Group, an institutional real estate investment firm, since March 2010. Since April2010, Mr.Ratinoff has served as a member of the Board of Directors and Chairman of the Loan Committee of Bankof Internet. From 2004 to 2009, Mr.Ratinoff held the position of Managing Director and West Coast Head for the J.E. Robert Companies, a global real estate investment management company. Prior to J.E. Robert Companies, Mr. Ratinoff served a variety of senior management roles in real estate investment banking with Keybanc, Chase Securities and Bankers Trust. Mr.Ratinoff received a BA in Architecture and City Planning from the University of California, Berkeley, and an MBA from the J.L. Kellogg Graduate School of Management at NorthwesternUniversity.

About MPGOfficeTrust, Inc.

MPGOfficeTrust, Inc. is the largest owner and operator of Class A office properties in the LosAngeles central business district and is primarily focused on owning and operating high-quality office properties in the SouthernCalifornia market. MPGOfficeTrust, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing. For more information on MPGOfficeTrust, visit our website at [ www.mpgoffice.com ].

Business Risks

This press release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include: risks associated with our ability to dispose of properties, if and when we decide to do so, at prices or terms set by or acceptable to us; risks associated with the timing and consequences of loan defaults and related asset dispositions; risks associated with our liquidity situation; risks associated with our dependence on key personnel whose continued service is not guaranteed; risks associated with the continued or increased negative impact of the current credit crisis and global economic slowdown; risks associated with contingent guaranties by our OperatingPartnership; general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases at favorable rates, dependence on tenantsa™ financial condition, and competition from other developers, owners and operators of real estate); risks associated with the availability and terms of financing and the use of debt to fund acquisitions and developments; risks associated with increases in interest rates, volatility in the securities markets and contraction in the credit markets affecting our ability to extend or refinance existing loans as they come due; risks associated with managementa™s focus on asset dispositions, loan defaults, cash generation and general strategic matters; risks associated with joint ventures; potential liability for uninsured losses and environmental contamination; and risks associated with our potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws.

For a further list and description of such risks and uncertainties, see our AnnualReport on Form10-K/A filed on April30,2010 with the Securities and Exchange Commission. The Company does not update forward-looking statements and disclaims any intention or obligation to update or revise them, whether as a result of new information, future events or otherwise.