EQC Equity Commonwealth

CommonWealth REIT (NYSE: CWH) today announced that its subsidiary, Select Income REIT, or SIR, has filed a registration statement with the Securities and Exchange Commission, or SEC, for an initial public offering of common shares. SIR will primarily own and invest in net leased, single tenant properties, and it will own substantially all of CWH’s commercial and industrial properties located in Hawaii as well as 25 suburban office and industrial properties located throughout the U.S. Upon completion of the public offering, it is expected that CWH will continue to own a substantial majority of SIR’s outstanding common shares.

The joint bookrunning managers listed for this public offering are Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Copies of the prospectus relating to the offering may be obtained, when available, from Morgan Stanley, Attention: Prospectus Department 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: 1-866-718-1649 or email: prospectus@morganstanley.com, BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com or Wells Fargo Securities, 375 Park Avenue, New York, NY 10152, Attention: Equity Syndicate Department, telephone: 1-800-326-5897 or email: cmclientsupport@wellsfargo.com.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF FEDERAL SECURITIES LAWS, INCLUDING, BUT NOT LIMITED TO, STATEMENTS REGARDING SIR’S INTENTION TO CONDUCT AN INITIAL PUBLIC OFFERING, THE PROPERTIES THAT SIR EXPECTS TO OWN AND INVEST IN AND CWH’S EXPECTED OWNERSHIP OF SIR AFTER THE OFFERING. ACTUAL EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN FORWARD LOOKING STATEMENTS AS A RESULT OF CERTAIN FACTORS, INCLUDING BUT NOT LIMITED TO: ADVERSE CHANGES IN GENERAL ECONOMIC OR MARKET CONDITIONS OR IN THE DEBT OR EQUITY MARKETS, THE RISK THAT SIR MAY NOT BE ABLE TO SUCCESSFULLY COMPLETE THE OFFERING IN ITS EXPECTED TIMEFRAME OR AT ALL AND OTHER IMPORTANT FACTORS DISCLOSED PREVIOUSLY AND FROM TIME TO TIME IN CWH’S FILINGS WITH THE SEC. CWH DISCLAIMS ANY OBLIGATION TO UPDATE ANY FORWARD LOOKING STATEMENTS AFTER THE DATE OF THIS RELEASE.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the New York Stock Exchange.No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

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