Bedford Property Investors Announces Expansion of Board of Directors and the Appointment of Bowen H. ''Buzz'' Mc Coy as Director.

Business Editors

LAFAYETTE, Calif.--(BUSINESS WIRE)--Dec. 19, 2003

Bedford Property Investors, Inc. (NYSE:BED) announced today that acting on the recommendation of its Nominating and Corporate Governance Committee, the Board of Directors approved an expansion of the size of the Board from six members to seven members and appointed Bowen H. "Buzz" Mc Coy as the new director.

Mr. Mc Coy spent 28 years with Morgan Stanley, where he directed real estate finance activities for 13 years and West Coast operations for 5 years. He has served as Executive-in-Residence at both Stanford and Notre Dame Graduate Schools of Business and also taught at UCLA and USC. "Buzz Mc Coy is an excellent addition to our Board of Directors," said Peter B. Bedford, Chief Executive Officer and Chairman of the Board of Bedford Property Investors, Inc. "Mr. Mc Coy's knowledge and experience in real estate finance and his broad general knowledge of real estate issues and strategy will be a great help in guiding the company to continued success."

Bedford Property Investors is a self-administered equity real estate investment trust with investments in suburban office buildings and industrial properties concentrated in the western United States. It is traded on the New York Stock Exchange and the Pacific Exchange under the symbol "BED" and its web site is www.bedfordproperty.com.