Bedford Property Investors, Inc. Proposed Public Offering of Common Stock.

LAFAYETTE, Calif.--(BUSINESS WIRE)--Feb. 14, 1996--Bedford Property Investors, Inc. (NYSE: BED) announced today that it has filed a Registration Statement with the Securities and Exchange Commission relating to the proposed public offering of 6,700,000 shares of common stock, all of which are to be sold directly by the Company.

The managing underwriter for the offering, Merrill Lynch & Co., has been granted an option to purchase up to 1,005,000 additional shares to cover over-allotments. The planned offering will be made only by a prospectus, which may be obtained from the managing underwriter once it becomes available.

A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State.

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 and Pacific Stock Exchanges under the symbol "BED."

CONTACT: Bedford Property Investors

Peter B. Bedford/Donald A. Lorenz, 510/283-8910