Parallel Capital Partners

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Pacific Office Properties Trust, incorporated in March 1988, is a real estate investment trust. Since 2003, it has been liquidating its loan and land holdings, and returning capital to its shareholders through regular and special dividends. As of June 2004, Pacific Office Properties Trust sold its remaining holdings, with the exception of approximately 280 acres of land in Maricopa County in Arizona. Three months later the company sold its interest in Pinnacle Peak Office and Resort Investors. In January 2005, the company engaged Peacock, Hislop, Staley & Given to assist in developing and evaluating strategic alternatives available to Pacific Office Properties Trust to enhance shareholder value. Pacific Office Properties Trust maintains corporate headquarters in Phoenix.