Behringer Harvard Funds Adds Two Dallas Office Properties to Portfolio; Behringer Harvard Continues to Strengthen Metroplex Presence with Latest Real Estate Acquisitions.

DALLAS -- Behringer Harvard Funds announces the acquisition of two Dallas commercial real estate properties: Plaza Bank Center, a uniquely designed retail complex in Northeast Dallas; and 4245 N. Central, a six-story office building located in the Uptown District/Highland Park sub-market. The assets are the third and fourth to be acquired in 2004 for the Behringer Harvard Short-Term Opportunity Fund I LP portfolio.

Plaza Bank Center, located at 9090 Skillman, is a mixed use retail complex with a stucco facade and a Spanish tile roof. The 99,000 square foot building is located at the intersection of Audelia Road, Skillman Street and IH 635 in the Lake Highlands area. Constructed in 1987, the property is currently 84 percent occupied by 38 tenants, which include Compass Bank, El Fenix, Starbucks, ReMax Realtors and Edward Jones, among others. Plaza Bank Center was a joint venture with Dunhill Properties.

"The Plaza Bank Center is a well-positioned retail center that has historically maintained very high occupancy," said Robert Behringer, the founder and CEO of Behringer Harvard Funds. "We think this sub-market and its continued near-term residential growth will provide support for the existing tenants and position the asset for increased occupancy and elevated rental revenue and therefore value enhancement into the future."

Situated just south of the recently constructed and highly successful Knox Park retail development and adjacent to the Uptown District-Highland Park residential communities, 4245 N. Central is a visually distinctive six-story office building. Built in 1986, 4245 N. Central has 87,292 square feet of rentable space, with a four-level underground parking garage containing 262 spaces and 30 surface spaces for lobby tenants and visitors. The interior is accented by flamed and polished red Carmen granite, mahogany wood trim and chrome. Tenants include BGO Architects, Michael Burns & Associates and Dr. Monty Buck. The acquisition was a joint venture with Realty America.

"This building has great upside within the dynamic Uptown/Highland Park area. It was constructed with superior Class A common area finishes and offers superb access to many nearby restaurants, retail centers, hotels, sports venues and tourist attractions," said Behringer. "This asset occupies a strategic location and should provide near-term value enhancement through improved marketing and a property operation plan designed to deliver the highest level building services to both new and existing tenants."

About Behringer Harvard Funds:

Behringer Harvard Funds is a national real estate investment fund sponsor offering a family of real estate funds to the public through the independent broker dealer community. Its three finite-life, non-listed, public funds offer their securities in best efforts public offerings and seek to produce attractive returns to their investors through a balance of current yield and capital appreciation. Behringer Harvard Funds also sponsors 1031 tenant in common securities offerings that invest in institutional quality commercial real estate.

This release contains forward-looking statements relating to the business and financial outlook of Behringer Harvard Funds, including Behringer Harvard REIT I, Inc., Behringer Harvard Mid-Term Value Enhancement Fund I LP, and Behringer Harvard Short-Term Opportunity Fund I LP, which are based on our current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements and you should not place undue reliance on any such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this release. Such factors include those described in the Risk Factors sections of the prospectuses for the public offerings of equity of each of Behringer Harvard REIT I, Inc., Behringer Harvard Mid-Term Value Enhancement Fund I LP, and Behringer Harvard Short-Term Opportunity Fund I LP. Forward-looking statements in this document speak only as of the date on which such statements were made and we undertake no obligation to update any such statements that become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.