Pan Pacific Retail Properties Revises Time for Fourth Quarter Earnings

    Business Editors/Real Estate Writers

    SAN DIEGO--(BUSINESS WIRE)--Jan. 31, 2005--Pan Pacific Retail Properties, Inc. (NYSE: PNP), the largest neighborhood shopping center real estate investment trust (REIT) focused exclusively on the West Coast, announced it would release its fourth quarter and year end 2004 results the morning of Thursday, February 17, 2005. Pan Pacific will conduct a teleconference that same day at a revised time of 10:30 a.m. Eastern Time. Interested parties may participate in this conference call by accessing the following:

Internet: www.pprp.com Teleconference: (877) 407-9210

    Please access the website or call the conference center at least fifteen minutes prior to the start of the call to download and install any necessary computer audio software and/or register for the call.
    A replay will be available after the call through midnight Eastern Time on March 17, 2005 by accessing:

Internet: www.pprp.com Telephone: (877) 660-6853, account #1628, confirmation # 128252

    ABOUT PAN PACIFIC RETAIL PROPERTIES

    Pan Pacific Retail Properties, Inc. is an equity real estate investment trust (REIT) traded on the New York Stock Exchange under the symbol PNP. The Company is the largest neighborhood shopping center REIT focused exclusively on the West Coast. Pan Pacific's portfolio currently totals 133 properties, encompassing approximately 21.7 million square feet of retail space. The portfolio is principally diversified across five distinct regions in the Western United States: Northern California, Southern California, Washington, Oregon and Nevada.
    Pan Pacific focuses on creating long-term stockholder value by specializing in the acquisition, ownership and management of community and neighborhood shopping centers for everyday essentials. The Company's strategy is aimed at providing stockholders with long-term stable cash flow through maintaining a diverse portfolio and tenant base, balanced with consistent growth through implementing its acquisition and property management programs.
    Pan Pacific is headquartered in Vista (San Diego), California, and has regional offices located in Sacramento, California; Kent, Washington; Portland, Oregon; and Las Vegas, Nevada.
    Additional information on Pan Pacific is available on the Company's web site at www.pprp.com.

--30--WAM/la*

CONTACT: Pan Pacific Retail Properties, Inc. Carol Merriman, 760-598-2002 (Investor Relations)

KEYWORD: CALIFORNIA INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION BANKING RETAIL ADVISORY CONFERENCE CALLS SOURCE: Pan Pacific Retail Properties, Inc.

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