'We build the buildings for the high tech companies that build the internet'
CUPERTINO, Calif., Dec. 17 /PRNewswire-FirstCall/ -- Mission West Properties, Inc. (AMEX:MSW) today announced that its Board of Directors has declared its regular quarterly cash dividend of $0.16 per share on its common stock payable on January 3, 2008 to all common stockholders of record on December 31, 2007. The dividend is equivalent to an annual rate of $0.64 per share, which represents a 6.5 percent annualized yield based on the latest closing price of $9.78 per share.
The Company intends to make regular quarterly distributions to holders of its common stock based upon its cash available for distribution.
NOTIFICATION OF CONFERENCE CALL February 7, 2008 at 8:00 a.m. Pacific Time Mission West Properties, Inc./Carl E. Berg will have a conference call to provide an update on recent Silicon Valley R&D Market developments and discuss 4th quarter and full year 2007 earnings results. We will end the conference call with a question and answer session. The dial in number for the conference call is: U.S.A. 877-209-0397 A recording of this conference call will be available from February 7, 2008 at 11:30 a.m. pacific time through February 21, 2008 at 11:59 p.m. pacific time by dialing: U.S.A. 800-475-6701
International 320-365-3844
Access Code 902378 Status of Pending Merger
After months of discussions and evaluating the merits of a possible merger, the Company has concluded that there is currently not a buyer in the market that has presented an offer that is acceptable to the Company. Management continues to focus its efforts on building shareholder value by leasing its vacant properties, renewing leases with existing customers, and identifying new investment opportunities for the Company's future growth and expansion.
Mission West Properties, Inc. operates as a self-managed, self-administered and fully integrated REIT engaged in the management, leasing, marketing, development and acquisition of commercial R&D properties, primarily located in the Silicon Valley portion of the San Francisco Bay Area. Currently, the Company manages 109 properties totaling approximately 7.9 million rentable square feet, which includes approximately 854,000 rentable square feet (or 16 buildings) that are in the process of being rezoned for residential development. For additional information, please contact Investor Relations at 408-725-0700.
The matters described herein contain forward-looking statements. Such statements can be identified by the use of forward-looking terminology such as "will," "anticipate," "estimate," "expect," "intends," or similar words. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the Company's control which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, the ability to complete acquisitions under the Company's Berg Land Holdings Option Agreement with the Berg Group, changing economic and real estate industry conditions, leasing risk, rollover risk, tenant credit risk, interest rate risk, and other factors detailed in the Company's registration statements, and periodic filings with the Securities & Exchange Commission. DATASOURCE: Mission West Properties, Inc.
CONTACT: Investor Relations of Mission West Properties, Inc., +1-408-725-0700 Web site: http://www.missionwest.com/
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