Notes: April 18, 2008) — Grubb & Ellis Realty Advisors, Inc. (AMEX: GAV, GAV.WS) announced today that it will make a first and final liquidating distribution of $6.08929094 per share to holders of record on April 17, 2008. The distribution is being made today. No payments will be made in respect of the Company’s outstanding warrants or to any of the Company’s initial stockholders with respect to the shares owned by them prior to the initial public offering. As previously announced, on April 14, the Company’s stockholders voted to approve the dissolution of the Company and its proposed plan of liquidation. This approval was a necessary condition to the Company distributing its net assets to holders of common shares issued in its initial public offering. The Company will also begin the process of delisting its securities from the American Stock Exchange and deregistering from the Securities Exchange Commission.