Pacific Newport Properties, INC

COMPANY

Pacific Newport Properties, Inc. ("PNP") was organized in 1977 by William R. Patton to engage in the development, acquisition and management of shopping centers, office and industrial properties for its own account. PNP has developed over 5,000,000 square feet of industrial, retail and office projects in Southern California and is headquartered in Orange County with a satellite office in the Inland Empire.

PNP expanded its experience and successful track record to include property and asset management services for selected individual and institutional investors.

PNP's mission statement to successfully develop, manage, and maximize asset values is based on the following basic premises and facts:

Practical knowledge, marketing aggressiveness and detail oriented cost control are at the forefront of the success of any project;

Experienced professionals are the key ingredient to insure facilities are maintained and managed to the highest industry standards preserving and enhancing value, particularly during difficult economic times;

Every member of the PNP team is capable of handling all areas of the development and management decision making process working with lenders, contractors, tenants, brokers, governing agencies, and service providers in order to operate and maximize the value;

PNP's management maintains regular contact with tenants and service providers to insure ongoing communication, cooperation and attention to all areas of ongoing management.

PNP has the experience, knowledge and the ability to resolve issues efficiently and timely;

PNP has maintained its original goal of remaining a cohesive group of dedicated professionals. You will find no prima donnas here, our entrepreneurial individuals are compatible and able to work together in a true hands-on team spirit environment.

We at PNP are development and management professionals who combine practical decision-making "street smarts" learned from years of successful projects with technical backgrounds and business analytical skills needed to maximize the potential of its development projects, investments, tenant relations, and asset management.