American Spectrum Realty, Inc. (NYSE AMEX: AQQ), a real estate investment, management and leasing company, headquartered in Houston, Texas, stated today that its wholly owned subsidiary, American Spectrum Realty Management, LLC (“ASRM”), has been chosen by CITY NATIONAL BANK to manage six apartment projects in Dallas, TX. The two most recent properties are located at 3015 Grand Ave and 3326 Navajo.

These contracts make the Dallas area ASRM’s largest third party multi-family property management market with six properties under management through CITY NATIONAL BANK. ASRM is preparing to open a regional office in Dallas.

ASRM, together with its affiliates, provides first-class management and leasing services of more than 125 properties for its third party clients, which consist of 8.4 million square feet of office and industrial, 200,000 square feet of retail, 1.8 million square feet of self-storage space, 2.7 million square feet of conventional multi-family housing, 2.6 million square feet of student housing, and nearly 200,000 square feet of assisted living facilities.

About American Spectrum Realty, Inc.

American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interests in office, industrial, self storage, retail properties, and apartments throughout the United States. The Company has been publicly traded since 2001. American Spectrum Management Group, Inc. and American Spectrum Realty Management, LLC are wholly-owned subsidiaries of the Company’s operating partnership which manage and lease all properties owned by American Spectrum Realty, Inc. as well as properties owned by third-party clients.

Certain matters discussed in this release are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including the risks and uncertainties of acquiring, owning, operating and disposing of real estate. Such risks and uncertainties are disclosed in the Company’s past and current filings with the U.S. Securities and Exchange Commission.