HRPT Properties Trust (NYSE: HRP) today announced that it has commenced a proposed public offering of 20,000,000 common shares. HRP expects to use the net proceeds to repay amounts outstanding under its $750 million revolving credit facility and fund general business activities, including possible future acquisitions. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 3,000,000 shares to cover over allotments, if any.

Morgan Stanley, Citi and Wells Fargo Securities are the joint book-running managers for this offering. Jefferies & Company, Morgan Keegan & Company, Inc., RBC Capital Markets and UBS Investment Bank are co-lead managers.

This press release is not an offer to sell, nor a solicitation of an offer to buy, shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The preliminary prospectus supplement relating to this offering and related prospectus are expected to be filed with the SEC and a copy can be obtained from the offices of Morgan Stanley & Co. Incorporated, 180 Varick St., 2nd Floor, New York, New York, Attention: Prospectus Department or by email at prospectus@morganstanley.com, from the offices of Citigroup Global Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone (800) 831-9146, or from the offices of Wells Fargo Securities, LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, N.Y., 10152 (e-mail: equity.syndicate@wachovia.com or telephone: 800-326-5897) or by contacting any of the other co-lead managers listed above.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND THE FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HRP’S PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE, ALTHOUGH THIS PRESS RELEASE REFERS TO AN OFFERING OF 20,000,000 COMMON SHARES, MORE OR LESS THAN 20,000,000 COMMON SHARES MAY BE SOLD, OR THIS OFFERING MAY BE WITHDRAWN. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENT.

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