Exhibit 99.1

American Spectrum Realty Reports 2011 Year End Results

HOUSTON--(BUSINESS WIRE)--March 30, 2012--American Spectrum Realty, Inc. (AMEX: AQQ) (“the Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, announced today its results for the year ended December 31, 2011.

Rental revenue for the year ended December 31, 2011 increased by $20.0 million, or 44%, in comparison to the year ended December 31, 2010. The increase in rental revenue was primarily due to the consolidation of variable interest entities (“VIE”), which resulted in additional rental revenues of approximately $23.1 million. Rental revenue for properties owned other than through VIE’s decreased by approximately $3.1 million. This decrease was primarily due to a decrease in weight average occupancy. The decrease was also attributable to a decline in rental rates.

Third party management and leasing revenue increased by approximately $0.2 million for the year ended December 31, 2011 when compared to the year ended December 31, 2010. The increase was principally due to an increase in third party leasing commissions and transaction fees.

Property operating expenses increased by approximately $4.5 million, or 24%, in comparison to the year ended December 31, 2011. The increase was primarily due to the consolidation of VIE’s, which accounted for an increase of approximately $8.3 million. Property operating expenses for properties owned other than through VIE’s decreased by approximately $3.8 million. This decrease was in large part attributable to a decrease in utilities and repair and maintenance costs. The decrease was also due to a decrease in personnel costs and property taxes.

Net loss from continuing operations for the year ended December 31, 2011 increased by approximately $3.3 million, or 23%, when compared to the year ended December 31, 2010.

Net income attributable to common stockholders for the year ended December 31, 2011 was $3.8 million, or $1.32 per share, compared to net loss of $8.3 million, or $2.76 per share for the year ended December 31, 2010. The net income for the year ended December 31, 2011 included income from discontinued operations of $17.3 million, compared to a loss from discontinued operations of $0.8 million for the year ended December 31, 2010.

The Company’s Funds From Operations (FFO), a widely accepted supplemental measure of REIT performance established by the National Association of Real Estate Investment Trusts, was $2.1 million for the year ended December 31, 2011 compared to $(4.1) million for the year ended December 31, 2010. The Company’s business is the ownership, operation and management of real estate. It believes that FFO is helpful to investors when measuring operating performance because it excludes various items that are considered in the determination of net income or loss that do not relate to or are not indicative of operating performance, such as gains or losses from sales of operating properties and depreciation and amortization, which can make periodic and peer analyses of operating performance more difficult. The following table reflects the reconciliation of FFO to net income (loss) attributable to the Company, the most directly comparable Generally Accepted Accounting Principles measure, for the years ended December 31, 2011 and 2010 (in thousands):


The following information was filed by American Spectrum Realty Inc (AQQSQ) on Friday, March 30, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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