Mission West Properties Announces That Its Board of Directors Has Authorized Management to Explore Strategic Alternatives for the Possible Sale of the Company

Mission West Properties, Inc. MSW reported today that it is exploring strategic alternatives for the possible sale of the Company. As a result of an increase in portfolio sales in various markets around the U.S., including the Silicon Valley portion of the San Francisco Bay Area, lower borrowing costs, and a steady decline in cap rates from the increased investor demand for yield oriented real estate investments, the Company's board of directors has authorized management to initiate a process to identify potential qualified buyers and determine an appropriate structure for the sale of the Company taking into account the potential value of the transaction to stockholders and operating unit holders. At this time, however, the Company is not engaged in any transaction and its board of directors has not made a decision to recommend or authorize a sale of the Company.