Bedford Property Investors Announces New Lease Transaction

Bedford Property Investors, Inc. (NYSE:BED) announced
today the signing of a lease for 45,090 square feet at its 598
Gibraltar Drive property located in Milpitas, California. The 4 year
lease is with Aperto Networks, Inc., a leading provider of WiMAX
broadband wireless access systems and solutions. The lease is expected
to commence in the second quarter of 2006.
   "We are excited to complete this lease transaction," said Peter B.
Bedford, Chairman of the Board and Chief Executive Officer. "We see
this as further indication of the recovery occurring in the Silicon
Valley market."
   Bedford Property Investors is a self-administered equity real
estate investment trust (REIT) with investments in suburban office
buildings and industrial properties concentrated in the western United
States. It is traded on the New York Stock Exchange and the Pacific
Exchange under the symbol "BED" and its web site is
www.bedfordproperty.com.

   Please note: This press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934 that represent the company's current expectations
and beliefs, including, among other things, the company's expectations
regarding the commencement time of the lease. These forward-looking
statements are subject to certain risks and uncertainties that could
cause the actual results, performance or achievements to be materially
different from those expressed, expected or implied by the
forward-looking statements. The risks and uncertainties that could
cause our actual results to differ from management's estimates and
expectations are contained in the company's filings with the
Securities and Exchange Commission, including its 2004 Annual Report
on Form 10-K and its most recent Quarterly Report on Form 10-Q. The
company does not undertake to update forward-looking information
contained herein or elsewhere to reflect actual results, changes in
assumptions or changes in other factors affecting such forward-looking
information.