Cole Credit Property Trust II, Inc. Increases Q3 Distribution.

Board of Directors Authorizes Increase Effective July 1, 2007

PHOENIX -- The Board of Directors of Cole Credit Property Trust II, Inc. (CCPT II) has authorized a daily distribution of $0.00191781 per share for stockholders of record as of the close of business on each day of the period commencing on July 1, 2007 and ending on September 30, 2007. The daily distributions for July 1, 2007 through September 30, 2007 are calculated to be equivalent to an annualized distribution of seven percent (7.0%) per share, assuming a $10 per share purchase price. CCPT II has previously been paying dividends at an annual rate of 6.5% from July 2006 through June 2007.

"Our acquisitions, asset management and portfolio management teams have continued to efficiently deploy capital into a quality real estate portfolio that is virtually 100 percent occupied, which has enhanced portfolio performance over the last year," said Chris Cole, Chairman, President and Chief Executive Officer of CCPT II. "We are pleased to pass along this economic benefit to our shareholders through an increase in distributions."

The payment date for each of the daily distributions for each day of the period commencing on July 1, 2007 and ending on July 31, 2007 will be in August 2007. The payment date for each of the daily distributions for each day of the period commencing on August 1, 2007 and ending on August 31, 2007 will be in September 2007. The payment date for each of the daily distributions for each day of the period commencing on September 1, 2007 and ending on September 30, 2007 will be in October 2007.

About Cole Credit Property Trust II, Inc.

Cole Credit Property Trust II, Inc., is non-traded, real estate investment trust that invests primarily in freestanding, single-tenant retail properties net leased to investment grade and other credit worthy tenants.

This press release is neither an offer to sell nor a solicitation to buy any security, nor will there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any such solicitation must be preceded or accompanied by a prospectus. Investors should read the prospectus carefully before investing and carefully consider the investment objectives, risks, and charges and expenses before investing or sending money.

Statements contained herein that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, words such as "believes," "expects," "anticipates," "plans," "hopes," "intends," and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. These forward-looking statements involve certain risks and uncertainties that may affect the operations, performance, development and results of the Company's business. Actual results may differ materially from those expressed herein. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results may result in fluctuations in the price of our common stock. The Company undertakes no obligation to revise or update these forward-looking statements to reflect any future events or circumstances.