American Assets Trust Adjusts Ownership Limits, Rady Trust Voting Pact

American Assets Trust, Inc. entered into a Voting Support Agreement with the Rady Trust Group, a significant stockholder. Concurrently, the Board increased the Rady Trust Group's excepted holder limit from 19.9% to 21.9% of outstanding common stock. As a condition, the Rady Trust Group agreed to voting restrictions on shares exceeding 19.9%, requiring them to either abstain or vote proportionally with other stockholders in non-contested meetings, and in accordance with Board recommendations in contested meetings. The Board also decreased the general Aggregate Stock Ownership Limit and Common Stock Ownership Limit to 6.775%.