Exhibit (a)(5)





MACKENZIE  PATTERSON FULLER, LP ANNOUNCES OFFER TO PURCHASE UP TO 138,180 SHARES
OF AMERICAN SPECTRUM REALTY INC. AT $17.25 PER SHARE

MORAGA, CA, November 16, 2007/Market Wire/ - MacKenzie  Patterson Fuller, LP and
affiliates  (collectively,  "MPF") today announced they have offered to purchase
up to 138,180  shares of common stock of American  Spectrum  Realty Inc.  (AMEX:
AQQ) for a price of $17.25 per share.  The average  closing price from August 1,
2007 to November 13, 2007 was $18.76,  however,  the average volume was only 907
shares over that time period,  and on 22 of those days,  or 30% of the time,  no
trading occurred at all! (finance.google.com).. MPF currently owns approximately
44,706 shares which, when added to the 138,180 shares sought through this offer,
would result in combined  ownership of  approximately  11.5% of the  outstanding
shares of AQQ.

A copy of the offer  documents can be viewed at MPF's  website at  www.mpfi.com.
MPF will also mail,  email,  or fax a copy of the offer  documents to anyone who
requests them by email to offers@mpfi.com or by calling 800-854-8357.

To submit your shares,  instruct your broker to deposit them through  Depository
Trust  Company or, if you own your shares in  certificate  form,  you can submit
them by requesting and completing a Letter of Transmittal.

Contact: Christine Simpson, 800-854-8357 x. 224
MacKenzie Patterson Fuller, LP
1640 School Street, Suite 100
Moraga, California 94556