Bedford Property Investors Announces Another Silicon Valley Acquisition.

LAFAYETTE, Calif.--(BUSINESS WIRE)--Jan. 15, 1997--Bedford Property Investors Inc. (NYSE:BED) announced today that they have completed the purchase of a 78,611 sq. ft. R&D building, which is occupied in its entirety under a long-term lease to Elo Touchsystems, a subsidiary of Raychem.

The lease agreement provides for fixed rental increases. The property was constructed in 1990 and is located in the Ardenwood Business Park in Fremont, Calif., directly adjacent to the Dumbarton Bridge. The building was purchased for $7,845,000.

"Ardenwood is one of the finest business parks in the Bay Area," stated Peter B. Bedford, chairman of the board of Bedford Property Investors, "and with the acquisition of the property at fifty percent of current market rental rates, we see exceptional upside for this asset; it's a keeper."

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 Exchanges under the symbol "BED."

CONTACT: Bedford Property Investors, Lafayette

Peter B. Bedford, 510/283-8910 (CEO)

Donald A. Lorenz, 510/283-8910 (CFO)