Exhibit 99.1

                    American Spectrum Realty, Inc.
    Announces Purchase of 3rd and 4th Buildings in Houston in 2006

    HOUSTON--(BUSINESS WIRE)--March 29, 2006--American Spectrum
Realty, Inc. (AMEX:AQQ), a real estate investment and management
company, headquartered in Houston, Texas, announced today its third
and fourth purchases in 2006, two office buildings located in Houston,
Texas. The first building is located at 2855 Mangum Road and has
71,849 rentable square feet. The building currently has 60 tenants and
is 86% leased. The second building is located at 14741 Yorktown Plaza
Drive and has 93,912 rentable square feet. It is a single tenant
building and is currently 100% occupied by FMC Technologies. These two
March purchases increase American Spectrum's total square footage in
Texas to approximately 1.3 million square feet and increases its real
estate projects in Houston to fifteen.
    The first building's purchase price of $5,400,000 consisted of
assumption of debt, proceeds from a tax-deferred exchange, seller
financing and the remainder in cash. The second building's purchase
price of $11,900,000 consisted of assumption of debt and proceeds from
a tax-deferred exchange.
    William J. Carden, President and CEO, stated, "With the
acquisition of the four new Houston properties this year, we continue
to pursue our goal of increasing our presence in our core markets of
Texas, Arizona and California."
    Management and leasing of the buildings will be handled by
personnel at American Spectrum's corporate headquarters located in
Houston. Any leasing inquiries should be directed to Bill McGrath,
CCIM, Regional Leasing Representative, at 713-706-6200.
    American Spectrum Realty, Inc. is a real estate investment and
management company that owns 23 office, industrial, and retail
properties aggregating approximately 1.9 million square feet in
California, Texas, Arizona, South Carolina and the Midwest. Publicly
traded on the American Stock Exchange since November 2001, American
Spectrum Realty's business plan focuses on expansion of office and
industrial property investments in California, Texas and Arizona.



    CONTACT: American Spectrum Realty, Inc., Houston
             William J. Carden, 713-706-6200