1031 Exchange Options Client Investors Acquire Two Retail Centers for $82 Million.

WALNUT CREEK, Calif. -- Cary Losson, Founder and President of 1031 Exchange Options, today announced on behalf of its clients, the successful acquisitions of two properties: Silver City Plaza in Las Vegas, Nev. and Olathe Station in Olathe, Kans. 1031 Exchange Options, a national real estate investment consultancy, represented individual Tenancy-in-Common (TIC) investors in both properties, many who successfully completed 1031 exchanges with the acquisition of their undivided fractional interest in the property.

Silver City Plaza is a retail center located on the northern end of the Las Vegas Strip. The property was acquired for $37.5 million, net of reserves. The retail center, on a land area of approximately 1.92 acres, is shadow-anchored by Walgreens and includes nationally recognized tenants such as Ross Dress for Less, Denny's Restaurant, and 7-Eleven convenience store. The property is fully leased, with 94% of the gross leasable space occupied by national credit tenants.

"The location of Silver City Plaza has enormous upside," said Christian Mirner, Executive Vice President - Real Estate for 1031 Exchange Options. "The Las Vegas Strip has a high volume of resident and tourist foot-traffic, and with the addition of the new Wynn Las Vegas Resort, the largest new development in Las Vegas, just a block away, this is an ideal retail location with promise for future development."

Olathe Station is a 611,644-square-foot retail power center located in Olathe, Kansas' fifth largest city. The property is 99% occupied and features anchor tenants such as OfficeMax, PetsMart, Bed, Bath & Beyond, and Goodyear, as well as being shadow-anchored by a Super Target and an AMC Theater. The property was acquired for $44.75 million, net of reserves.

"Olathe is the eighth fastest growing city in the nation," said Mirner. "After population growth of approximate 9% from 2000-2003, Olathe has forecasted additional growth of 12% by 2008. Population growth and increasing job formation drive retail sales and continue to be important fundamentals we look for in the properties we recommend to our client investors."

Passco Real Estate Enterprises, Inc. acquired Silver City Plaza from AG/CCR Las Vegas I, LLC and Olathe Station from A.B./Olathe Limited Partnership and A.B./Olathe II Limited Partnership separately on behalf of each of the co-ownership groups of TIC investors.

About 1031 Exchange Options

1031 Exchange Options is a national real estate investment consultancy representing clients in investments structured for co-ownership. We advise clients on 1031 exchanges, Tenancy-in-Common (TIC) ownership, triple net leased properties, funds, LLCs, REITs, and other alternative real estate investments. 1031 Exchange Options offers securities through Sigma Financial Corporation, Member NASD and SIPC.

1031 Exchange Options' national headquarters is located in the San Francisco Bay Area. The company services clients nationwide. Additional information is available at www.1031ExchangeOptions.com.

While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described.