Paul Bayer and Chris Tessitore Named Executive Vice Presidents of National Retail Properties, Inc.

ORLANDO, Fla., Jan. 2 /PRNewswire-FirstCall/ -- National Retail Properties, Inc. today announced that both Paul E. Bayer and Christopher P. Tessitore were promoted to Executive Vice President.

Mr. Bayer, who joined NNN in March of 1999, oversees the leasing, asset management, due diligence and underwriting groups. Mr. Tessitore, who also holds the title General Counsel, joined NNN in March 2005 and oversees all legal matters for NNN and its subsidiaries.

"Both Paul and Chris are well respected throughout our industry and have been important contributors to the success of NNN," said Jay Whitehurst, President and Chief Operating Officer. "We are pleased to add their skills and judgment to NNN's executive team."

Mr. Bayer has a broad real estate background including prior positions with Trammell Crow Company, Combined Properties and J. Donegan Company. He graduated from Dartmouth College and was awarded a leadership fellowship by Rutgers University Graduate School of Management. He is a member of the International Council of Shopping Centers (ICSC) and earned the designation of Certified Leasing Specialist from the ICSC.

Mr. Tessitore represented the company for more than 10 years while at the law firm Lowndes, Drosdick, Doster, Kantor & Reed, P.A. He is AV-rated by Martindale-Hubbell and is a member of the ICSC and the National Association of Real Estate Investment Trusts (NAREIT) and is Chairman of the Board of BETA Center, Inc. He graduated from the University of Notre Dame and received his J.D., cum laude, Order of the Coif, from the University of Florida College of Law.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of September 30, 2006, the company owned 691 Investment properties in 45 states with a gross leasable area of approximately 9.3 million square feet. For more information on the company, visit http://www.nnnreit.com/.