Exhibit 99.1

                  American Spectrum Realty Announces
                     Termination of Tender Offer

    HOUSTON--(BUSINESS WIRE)--May 4, 2007--American Spectrum Realty,
Inc. ("ASR") (AMEX:AQQ) has terminated its "mini tender" offer to
purchase 485,000 shares of Whitestone REIT, formerly known as Hartman
Commercial Properties REIT, since the litigation continues between
Whitestone REIT and the REIT founder, Al Hartman and ASR has concluded
that the cost of the ongoing litigation expense has materially
adversely affected the financial condition of Whitestone REIT.

    ASR will not purchase any of the Whitestone REIT stock at this
time. ASR may review the investment opportunity when all of the
litigation is settled.

    American Spectrum Realty, Inc. is a real estate investment and
management company that owns 29 office, industrial, and retail
properties aggregating approximately 2.5 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.
             Chairman, President and CEO
             William J. Carden, 713-706-6200