EXHIBIT (99) FOR IMMEDIATE RELEASE For Further Information Contact: J. Gregory Kasun, President and CEO Katrina L. Thompson, CFO Telephone: (619) 450-3135 MISSION WEST PROPERTIES ANNOUNCES CLOSING OF REAL ESTATE SALE SAN DIEGO, CALIFORNIA, January 22, 1997 -- Mission West Properties (ASE/PSE: MSW) today announced that it had completed the sale of most of its real estate assets to Spieker Properties, L.P. (NYSE: SPK); this transaction was closed in accordance with terms of the related Purchase and Sale Agreement dated December 6, 1996, as amended. As provided under terms of the Purchase and Sale Agreement, completion of the sale of the Company's leasehold properties at Palomar-McClellan Airport was deferred until a later period, not more than 120 days subsequent to the first closing, to allow for certain contingencies to be satisfied. The Company's Directors plan to meet shortly to consider a potential cash distribution to shareholders from the proceeds of the sale transaction and to consider future opportunities and a strategic course for the Company. Mission West is 49-percent owned by Triton Group Ltd. (AMEX: TGL), a San Diego holding company.