NEWS RELEASE

PS Business Parks, Inc.
701 Western Avenue
Glendale, CA  91201-2349
www.psbusinessparks.com


                                           For Release: Immediately
                                           Date:        October 3, 2005
                                           Contact:     Mr. Edward A. Stokx
                                                        (818) 244-8080, Ext. 649

                  PS BUSINESS PARKS, INC. ANNOUNCES ASSET SALE

GLENDALE,  California - PS Business  Parks,  Inc.  (AMEX:PSB)  announced that on
September 30, 2005, it completed the sale of Woodside  Corporate Park located in
Beaverton,  Oregon. The park consists of 13 buildings  comprising  approximately
574,000 square feet with a current occupancy of 76%. Net proceeds from the sale,
after transaction costs, were approximately $64.5 million.

Proceeds from the sale will be used for working capital purposes.

COMPANY INFORMATION

PSB is a self-advised and self-managed  equity real estate investment trust that
acquires,  develops,  owns and operates commercial  properties,  primarily flex,
multi-tenant  office and industrial  space.  The Company defines "flex" space as
buildings that are configured  with a combination of office and warehouse  space
and can be  designed  to fit a  number  of  uses  (including  office,  assembly,
showroom,  laboratory, light manufacturing and warehouse space). As of September
30, 2005, PSB wholly owned  approximately  17.4 million net rentable square feet
of commercial space with approximately  3,200 customers located in eight states,
concentrated  primarily in California (5.2 million sq. ft.),  Texas (2.9 million
sq. ft.), Florida (3.3 million sq. ft.), Oregon (1.4 million sq. ft.),  Virginia
(2.8 million sq. ft.) and Maryland (1.2 million sq. ft.).

Additional  information  about PS  Business  Parks,  Inc.  is  available  on the
Internet. The Company's web site is www.psbusinessparks.com.