News Release

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

                                        For Release: Immediately
                                        Date:        January 10, 2006
                                        Contact:     Mr. Edward A. Stokx
                                                     (818) 244-8080, Ext. 649

PS BUSINESS  PARKS,  INC.  TO RELEASE  FOURTH  QUARTER  2005  EARNINGS  AND HOST
QUARTERLY CONFERENCE CALL

GLENDALE,  California - PS Business Parks, Inc. (AMEX:PSB)  announced today that
it intends  to  release  its Fourth  Quarter  2005  earnings  after the close of
business on Tuesday, February 21, 2006.

A conference  call is scheduled for Wednesday,  February 22, 2006, at 10:00 a.m.
(PST)  to  discuss  the  fourth  quarter  results.   The  toll  free  number  is
1-800-399-4409;  the  conference ID is 4222374.  The call will also be available
via a live webcast on the Company's  website.  A replay of the  conference  call
will be  available  through  March  1,  2006 at  1-800-642-1687,  as well as via
webcast on the Company's website.

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 December
31, 2005, PSB wholly owned  approximately  17.6 million net rentable square feet
of commercial space with approximately  3,300 customers located in eight states,
concentrated in California  (5.4 million sq. ft.),  Texas (2.9 million sq. ft.),
Florida  (3.2 million sq. ft.),  Oregon (1.4  million sq.  ft.),  Virginia  (2.8
million sq. ft.),  Maryland (1.2 million sq. ft.),  and Arizona (0.7 million sq.
ft.).

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



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