Burnham Approaches Final Liquidation

SAN DIEGO-Burnham Pacific Properties Inc. today announced that it, in keepingwith the plan of liquidation previously approved by stockholders, intends to enter into a liquidating trust agreement.

The purpose of the agreement, effective June 28, is to wind up Burnham’s affairs and liquidate its assets. Burnham will transfer its remaining assets to the trustees of the newly created BPP Liquidating Trust, along with its remaining debts.

June 27 will be the last day of trading of Burnham common stock on the New York Stock Exchange and Burnham’s stock transfer books will be closed as of the close of business on that date.