CommonWealth REIT (NYSE: CWH) today announced that it has priced an underwritten public offering of $250 million of 5 7/8% unsecured senior notes due September 15, 2020. The settlement of this offering is expected to occur on September 17, 2010. CommonWealth intends to use the net proceeds of this offering initially to reduce amounts outstanding under its revolving credit facility. Following such reduction, CommonWealth expects to use borrowings available under its revolving credit facility to redeem the remaining seven million shares outstanding of its 8 ¾% Series B cumulative redeemable preferred shares.

The joint book-running managers for this offering were Banc of America Securities LLC, Citigroup Global Markets Inc., and UBS Securities LLC. The joint lead managers for this offering were, Jefferies & Company, Inc., Morgan Keegan & Company, Inc., Morgan Stanley & Co, Incorporated, RBC Capital Markets Corporation and Wells Fargo Securities, LLC. The co-managing underwriters for this offering were BB&T Capital Markets, a division of Scott & Stringfellow, LLC, BBVA Securities Inc., BNY Mellon Capital Markets, LLC, Comerica Securities, Inc., Daiwa Capital Markets America Inc., Mitsubishi UFJ Securities (USA), Inc., PNC Capital Markets LLC, RBS Securities Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC and U.S. Bancorp Investments, Inc.

This communication 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 the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state or jurisdiction. Copies of the prospectus supplement and the accompanying prospectus may be obtained by calling Banc of America Securities LLC toll-free at (800) 294-1322, Citigroup Global Markets Inc. toll-free at (877) 858-5407 or UBS Securities LLC toll-free at (877) 827-6444, ext. 561 3884.

CommonWealth REIT is a nationwide office and industrial real estate investment trust, or REIT. As of June 30, 2010, CWH owned 521 properties with 67.5 million square feet located in over 60 markets in 34 states and Washington, DC. CWH is headquartered in Newton, Massachusetts.

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 OTHER FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON COMMONWEALTH’S PRESENT EXPECTATIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS MAY NOT OCCUR. FOR EXAMPLE,

■ THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE SALE OF SENIOR NOTES IS EXPECTED TO OCCUR ON SEPTEMBER 17, 2010, AND THAT COMMONWEALTH EXPECTS TO REDEEM ALL OF ITS OUTSTANDING 8 ¾% SERIES B CUMULATIVE REDEEMABLE PREFERRED SHARES. IN FACT, THE SETTLEMENT OF THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES OCCUR, THIS OFFERING AND THE SUBSEQUENT REDEMPTION OF SERIES B SHARES MAY NOT BE COMPLETED.

FOR THESE REASONS, AMONG OTHERS, INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

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