American Spectrum Realty, Inc. (NYSE AMEX: AQQ) (“The Company”), a real estate investment, management and leasing company, headquartered in Houston, Texas announced today that two American Spectrum Realty Management, LLC (“ASRM”) employees won Crystal Merit Awards at the Apartment Association of Kansas City’s (“AAKC”) annual awards banquet.

The AAKC’s annual banquet was held February 26 th, 2011 to honor excellence in the apartment industry. Candy Dennis won Management Executive of the Year for her role in overseeing three conventional apartment properties in the Kansas City area. Ms. Dennis joined ASRM in April of 2010 as Regional Manager of the Mid-West market and currently assists property owners of eight conventional and student housing communities.

Megan Brillhart of Centennial Park Apartments won Leasing Professional of the Year for the under 200 apartment units category. Ms. Brillhart has been the Leasing Manager at Centennial Park for over a year and a half. Centennial Park is a 170 unit apartment community located in Overland Park, Kansas and is one of the few properties in the area providing both apartments and townhomes for lease.

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 manages and leases 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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