AmeriVest Properties Announces Retirement of Kathryn Hale, CFO.

DENVER -- AmeriVest Properties Inc. (AMEX:AMV), a real estate investment trust serving small- to medium-size office tenants, announced today that Kathryn Hale, Chief Financial Officer, will retire from the Company on May 31, 2006, in accordance with her existing employment agreement. The Company had previously commenced efforts to identify a successor to Ms. Hale and expects to complete those efforts before the end of May.

"On behalf of the management and Board of AmeriVest, I would like to thank Kathryn for her contributions to the Company over the past few years, including extraordinary efforts to improve our accounting controls and compliance procedures in light of the new Sarbanes-Oxley regulations," remarked Charles Knight, President and CEO of AmeriVest. "We are very appreciative of Kathryn's efforts and wish her well in her retirement," Knight added.

Company Information

AmeriVest Properties Inc., with its principal office in Denver, Colorado, provides Smart Space for Small Business(TM) in Denver, Phoenix, and Dallas through the acquisition, repositioning and operation of multi-tenant office buildings in those markets. To receive AmeriVest's latest news and information, visit our website at www.amvproperties.com.

In addition to historical information, this press release contains forward-looking statements and information under federal securities laws. These statements are based on expectations, estimates and projections about the industry and markets in which AmeriVest operates, management's beliefs and assumptions made by management. While AmeriVest management believes the assumptions underlying its forward-looking statements and information are reasonable, such information is necessarily subject to uncertainties and may involve certain risks, many of which are difficult to predict and are beyond management's control. As such, these statements and information are not guarantees of future performance, and actual operating results may differ materially from what is expressed or forecasted in this press release. In particular, the factors that could cause actual operating results to differ materially include, without limitation, continued qualification as a real estate investment trust, the effects of general and local economic and market conditions, competition, regulatory changes, the ability to enter into new leases or renew leases on favorable terms, dependence on tenants' financial condition, the uncertainties of real estate development and acquisition activity, development and construction costs, insurance risks, the costs and availability of financing, potential liability relating to environmental matters and liquidity of real estate investments and other risks and uncertainties detailed in AmeriVest's 2005 Annual Report on Form 10-K and from time to time in the Company's filings with the Securities and Exchange Commission.