[logo] NEWS RELEASE
SPECTRIAN For Immediate Release
Contact: Ed Supplee, CFO
Spectrian
408/745-5529
Spectrian Announces Sale and Leaseback of Facilities
SUNNYVALE, Calif. -- December 2, 1996 -- Spectrian Corporation
(NASDAQ:SPCT) today announced that on November 19, 1996 it sold and leased back
its main facilities at 350 West Java Drive and at 160 Gibraltar Court,
Sunnyvale, California. The Company sold the properties to SPEC (CA) QRS 12-20,
Inc., which was represented by W.P. Carey & Co. of New York City. Proceeds from
the sale of the facilities were $16.3 million, net of fees, commissions and
closing costs. The properties are made up of 141,787 square feet of space.
Spectrian agreed to leaseback the facilities for a term of 15 years at
an initial base rent of $1,925,000 per year. The rent is subject to certain
increases tied to the cost of living, and Spectrian has options to extend the
lease for two five-year periods after the expiration of the initial 15-year
term.
Ed Supplee, Executive Vice President and CFO of Spectrian said, "This
sale was for a very attractive price, over $100 per square foot, and it allowed
us to pay off all the Company's debt of $11.9 million and put over $4 million in
the bank. It substantially improves our liquidity and financial flexibility."
Spectrian is the leading independent supplier of ultra linear, high
power RF amplifiers to wireless communication infrastructure manufacturers
worldwide. As an ISO 9001 quality system certified company, Spectrian designs
and manufactures power amplifiers for use in microcell and macrocell base
stations for cellular, PCS and Fixed Wireless Access telephone networks.
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350 West Java Drive -- Sunnyvale, CA 94089 -- Phone 408-745-5400
Corporate Fax 408-541-0258 -- Human Resource Fax 408-541-0260
Sales & Marketing Fax 408-541-0263