We are advised by a representative for Meruelo Maddux Properties, Inc. that journalists and other readers should disregard the news release, East West Bank Hostile Takeover Plan of Meruelo Maddux Properties Rebuffed by Bankruptcy Court, issued 09-Sept-2010 over PR Newswire.

Retraction of Press Release issued September 9, 2010 by Meruelo Maddux Properties, Inc.

On September 9, 2010, Meruelo Maddux Properties, Inc. ("Company") issued a press release entitled "East West Bank Hostile Takeover Plan of Meruelo Maddux Properties Rebuffed by Bankruptcy Court." The bankruptcy court in the Company's pending bankruptcy proceedings has required that the press release be retracted in its entirety. The Company and Richard Meruelo, Chairman and Chief Executive Officer of the Company, will issue a retraction of the press release in the form required and approved by the bankruptcy court upon entry of an order of the bankruptcy court approving the form of such retraction.

SOURCE Meruelo Maddux Properties, Inc.