LOS ANGELES, CA (REIT Media) March 28, 2008 - Maguire Properties, Inc. (NYSE: MPG), a Southern California focused real estate investment trust, today announced it is finalizing its review of strategic alternatives for preserving and enhancing value for stockholders. This review is being conducted under the direction of a Special Committee comprised solely of the independent directors of the Board.

As a result of the current market conditions, particularly in the credit markets, and the lack of any viable acquisition proposal received from third parties, such review no longer includes active pursuit of the possibility of sale of the Company. The Special Committee will continue to focus on non-sale options to enhance liquidity, including dividend policy, and to manage the Company successfully, as well as preserve and create value until the markets recover. The Committee’s review will encompass all aspects of the Company’s operations and management.

The Special Committee intends to recommend the payment of the Company's preferred stock dividend for the first quarter of 2008.

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 our 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 identify properties to acquire, 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 our 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 filed with the Securities and Exchange Commission on February 29, 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.

Investor Relations:
Maguire Properties, Inc.
Peggy Moretti
Senior Vice President, Investor Relations
213-613-4558
or
Media Inquiries:
Financial Dynamics
Ellen Barry
212-850-5636