Maguire Properties Completes Disposition of Orange County Office Property

LOS ANGELES--(Business Wire)--
Maguire Properties, Inc. (NYSE:MPG), a Southern California-focused
real estate investment trust, announced today that it has completed
the sale of Main Plaza in Orange County, California to Shorenstein
Properties LLC.

This disposition is part of the Company's previously announced
plan to sell certain Orange County properties and use a portion of the
net proceeds from such sales to reduce the Company's debt and for
general corporate purposes.

Mr. Nelson C. Rising, President and Chief Executive Officer,
commented, "We are very pleased with the timing and execution of this
transaction, which represents another important step in our program
towards reaching our balance sheet goals."

About Maguire Properties, Inc.

Maguire Properties, Inc. is the largest owner and operator of
Class A office properties in the Los Angeles central business district
and is primarily focused on owning and operating high-quality office
properties in the Southern California market. Maguire Properties, Inc.
is a full-service real estate company with substantial in-house
expertise and resources in property management, marketing, leasing,
acquisitions, development and financing. For more information on
Maguire Properties, visit the Company's website at
www.maguireproperties.com.

Business Risks

This press release contains forward-looking statements based on
current expectations, forecasts and assumptions that involve risks and
uncertainties that could cause actual outcomes and results to differ
materially. These risks and uncertainties include: general risks
affecting the real estate industry (including, without limitation, the
inability to enter into or renew leases at favorable rates, dependence
on tenants' financial condition, and competition from other
developers, owners and operators of real estate); risks associated
with the availability and terms of financing and the use of debt to
fund acquisitions and developments; risks associated with the
potential failure to manage effectively the Company's growth and
expansion into new markets, to complete acquisitions or to integrate
acquisitions successfully; risks and uncertainties affecting property
development and construction; risks associated with downturns in the
national and local economies, increases in interest rates, and
volatility in the securities markets; risks associated with joint
ventures; potential liability for uninsured losses and environmental
contamination; risks associated with the Company's potential failure
to qualify as a REIT under the Internal Revenue Code of 1986, as
amended, and possible adverse changes in tax and environmental laws;
and risks associated with the Company's dependence on key personnel
whose continued service is not guaranteed.

For a further list and description of such risks and
uncertainties, see our Annual Report on Form 10-K/A filed with the
Securities and Exchange Commission on April 28, 2008. The Company does
not update forward-looking statements and disclaims any intention or
obligation to update or revise them, whether as a result of new
information, future events or otherwise.

Maguire Properties, Inc.
Peggy Moretti
Senior Vice President, Investor and Public Relations
213-613-4558

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