American Spectrum Realty, Inc. (NYSE AMEX: AQQ) (“The Company”), a real estate investment, management and leasing company, headquartered in Houston, Texas announced today that it has engaged Raymond James & Associates, Inc. to provide investment banking services to the Company. The services include acting as lead manager for any public underwritten offering and acting as a financial advisor to the Company in any future company acquisitions.

William J. Carden, CEO, said that the engagement will provide the Company with possible financial options to expand its real estate property portfolio and add to its third-party property management and leasing through acquisition of property management companies and TIC sponsors. The Company has not only endured but expanded during one of the most difficult financial periods since the Great Depression, and the engagement of Raymond James will assist in the Company’s growth strategy throughout 2011.

About American Spectrum Realty, Inc.

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

ASRM provides first-class management and leasing services for over 130 office, industrial, retail, self-storage, and multi-family properties, totaling over 15 million square feet in 22 states.

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.

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