IRVINE, Calif., Aug. 7 /EMWNews/ -- Irvine, CA-based Premier

Business Centers, the largest privately held provider of full-service

executive office suites in the United States, announced today the renewal

of four lease agreements for a total of $11 million. Premier Business

Centers renewed three office leases in Orange County and one in Woodland

Hills, California. "Given the current state of the economy, executive

suites offer a lot of flexibility for all types of businesses that are not

certain which direction their business is heading," commented Jeff

Reinstein, Chief Executive Officer of Premier Business Centers. Mr.

Reinstein also commented that "with Premier Business Centers' renewal of

these four prime locations, it shows that we continue with our commitment

to provide attorneys, accountants, Fortune 1000 companies and small

entrepreneurs with flexible office space solutions in some of the best

office buildings in the Southern California area."



    In Orange County, Premier Business Centers renewed leases for two of

its executive suites with The Irvine Company. Premier Business Centers

renewed its lease for the prestigious high-rise office tower at 620 Newport

Center Drive, Suite 1100 in the Fashion Island area of Newport Beach,

California. Premier Business Centers' suite is the only executive suite in

a Class A high-rise in the Fashion Island area and features dramatic views

of the Pacific Ocean, the Back Bay, Big Canyon and the distant mountains.

The center is directly across the street from Newport Beach's Fashion

Island. Its lobby is clad in light marble and access is provided at ground

level to the tower's four-story parking structure and subterranean

executive parking.



    Premier Business Centers also renewed its lease for its executive suite

at Jamboree Center, which is located at One Park Plaza, Suite 600 in

Irvine, California. Jamboree Center features gleaming travertine and is at

the heart of Irvine at the confluence of Main St./Jamboree/405 Freeway.

This prestigious complex features high-speed elevators, vaulted glass lobby

ceilings, covered walkways and ample structured parking. Also on-site is

The Hyatt Regency, three cafes, auto detailing and ATMs. Extensive

landscaping and generous open space provide park-like surroundings and

pedestrian convenience.



    Also in Orange County, Premier Business Centers extended their lease

for Centerstone Plaza located at 4000 Barranca Parkway, Suite 250, Irvine,

California. The executive suite space at Centerstone Plaza was one of the

first nine business centers Premier acquired in May 2002. Centerstone

Plaza, is a four-building office campus comprising 158,000 sq. ft.,

featuring spacious abundantly landscaped common areas and a striking red

brick facade. Centerstone Plaza includes two full-service restaurants and

lies within easy walking distance of two major shopping centers.



    In the San Fernando Valley, Premier Business Centers renewed its

Woodland Hills center's lease with Douglas Emmett, Inc. Located at 21550

Oxnard Street, 3rd Floor, Woodland Hills, CA 91367. Warner Center Towers

consists of six office buildings and one retail building containing

1,927,559 sq. ft. of Class A office and retail space. The property is one

of Los Angeles' largest office campuses and is located in the planned

Warner Center community in Woodland Hills. Warner Center Towers offers a

park-like setting with landscaped plazas, attractive fountains and

breathtaking views. It has ample parking and is conveniently located near

the Ventura Freeway. The property features several dining options and is

directly adjacent to the Warner Center Marriott and The Promenade shopping

center.



    All four leases were negotiated by USA Realty Group's Robert Rush on

behalf of Premier Business Centers.

    About Premier Business Centers:



    Premier Business Centers (http://www.pbcenters.com) currently operates

the largest privately owned executive suite operation in the United States

with forty-six locations (17 in Los Angeles County, 17 in Orange County, 3

in San Diego County, 2 in San Francisco County, 3 in Seattle, WA area, and

4 in Dallas, TX area. Premier Business Centers is a full-service executive

office suite operator and provides businesses with professionally staffed

office space along with a variety of shared services, including:

administrative/secretarial service, T1 high-speed internet access,

telephone service, furniture, information technology services/consulting

and conference rooms. Premier Business Centers rents space by the day,

month or year on a full- or part-time basis.






    For additional information regarding these transactions, please contact:



    Jeff Reinstein, Chief Executive Officer

    Premier Business Centers

    2102 Business Center Drive

    Irvine, CA 92612

    949-253-4130 Voice

    949-253-4151 Fax

    [email protected]



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