Read the prospectus carefully before investing

7 /PRNewswire-FirstCall/ Grubb & Ellis AGA RealtyIncome Fund (Nasdaq: GBEIX) today announced it paid a year-end dividend of$.0589 per share on December 29, 2008 to shareholders of record as of December26, 2008. This distribution follows its first quarterly dividend of $0.175 pershare paid on November 26, 2008 to shareholders of record as of November 24,2008. The fund intends to make regular quarterly distributions beginning withthe first quarter of 2009."The current sell off in the market is creating what we believe are groundfloor opportunities in REIT preferreds, which are still offering the potentialfor attractive yields," said Jay Leupp, president of Grubb & Ellis AlescoGlobal Advisors, LLC, the fund's advisor. As of September30, 2008, approximately 74 percent of the fund's portfolio was invested inREIT preferred stock The fund is distributed by Quasar Distributors, LLC. and global real estate open and closed-endmutual funds, separate accounts and hedge funds.For more information regarding Grubb & Ellis AGA Realty Income Fund, pleasevisit the fund's Web site at http:// Grubb & EllisGrubb & Ellis Company (NYSE: GBE) is one of the largest commercial real estateservices and investment companies. With more than 130 owned and affiliateoffices worldwide, Grubb & Ellis offers property owners, corporate occupantsand investors comprehensive integrated real estate solutions, includingtransaction, management, consulting and investment advisory services supportedby proprietary market research and extensive local market expertise.Grubb & Ellis and its subsidiaries are leading sponsors of real estateinvestment programs that provide individuals and institutions the opportunityto invest in a broad range of real estate investment vehicles, includingtax-deferred 1031 tenant-in-common (TIC) exchanges; public non-traded realestate investment trusts (REITs) and real estate investment funds.

As ofSeptember 30, 2008, more than $3.8 billion in investor equity has been raisedfor these investment programs. The company and its subsidiaries currentlymanage a growing portfolio of more than 225 million square feet of realestate. In 2007, Grubb & Ellis was selected from among 15,000 vendors asMicrosoft Corporation's Vendor of the Year. For more information regardingGrubb & Ellis Company, please visit notesPast performance does not guarantee future results.Mutual fund investing involves risk, including the potential loss ofprincipal.Investors should be aware of the risks involved with investing in a fundconcentrating in REITs and real estate securities, such as declines in thevalue of real estate and increased susceptibility to adverse economic orregulatory developments.

Investments in asset backed and mortgage backedsecurities include additional risks that investors should be aware of, such ascredit risk, prepayment risk, possible illiquidity and default, as well asincreased susceptibility to adverse economic developments. Investing in smalland medium-sized companies involves greater risks than those associated withinvesting in large company stocks, such as business risk, significant stockprice fluctuations and illiquidity. Investments in debt securities typicallydecrease in value when interest rates rise This risk is usually greater forlonger-term debt securities. Diversification does not assure a profit orprotect against a loss in a declining market.To determine if this fund is an appropriate investment for you, carefullyconsider the fund's investment objectives, risk factors, charges and expensesbefore investing. This and other information can be found in the fund'sprospectus, which may be obtained by visiting orcalling 877.404.7822. Read the prospectus carefully before investing.SOURCEGrubb & Ellis AGA Realty Income FundSeuk Kim for Grubb & Ellis, 1-703-299-8390, ; Damon Elder ofGrubb & Ellis, 1-714-975-2659, . 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