MPG Office Trust Announces Agreement with Two California Plaza Special Servicer

MPG Office Trust, Inc.

, a Southern California-focused real estate investment trust, today announced that the Company and the special servicer for Two California Plaza, a property that is currently in receivership, entered into an agreement dated as of May 23, 2012. Pursuant to this agreement, the receiver will continue to manage the property. The Company will temporarily remain the title holder of the asset until Two California Plaza is transferred to another party or there is a completed foreclosure, with a definitive outside date of December 31, 2012, at which time the Company will cease to own the asset. We are not obligated to pay any amounts and are not subject to any liability or obligation in connection with our exit from the asset, other than to cooperate in the sale or other disposition. Also pursuant to this agreement, we are released of nearly all potential claims under the loan documents, except for certain environmental claims and other very limited potential claims that we consider immaterial. The agreement also obligates the Company to pay approximately $1 million related to certain historical operational liabilities.