Corporate Office Properties Trust Signs 73,000 Square Foot Lease at the National Business Park

COLUMBIA, Md.--(BUSINESS WIRE)-- Corporate Office Properties Trust (COPT) (NYSE:OFC) announced today the execution of a long term lease with The MITRE Corporation, a company employed by the Defense Information Systems Agency, the largest agency reassigned to Fort Meade as a result of BRAC. MITRE has signed a lease for 73,000 square feet located at 300 Sentinel Drive, Annapolis Junction, Maryland. The building, to be known as 300 NBP is currently under construction and will be a seven story, 188,000 square foot Class A office building. 300 NBP is the fourth building to be built in Phase II of The National Business Park (NBP) and has an anticipated completion date of second quarter 2009.

The National Business Park consists of 19 office buildings totaling 2.4 million square feet, which are 98% leased.

The MITRE Corporation is a not-for-profit organization that provides systems engineering, research and development, and information technology support to the government. It operates federally funded research and development centers for the Department of Defense, the Federal Aviation Administration, the Internal Revenue Service and Department of Veterans Affairs, with principal locations in Bedford, Massachusetts, and McLean, Virginia.

"We are pleased to sign our first lease at 300 NBP, exhibiting the beginning stages of BRAC tenant demand for office space at NBP," stated Randall M. Griffin, President and Chief Executive Officer of Corporate Office Properties Trust. "This lease reflects a continued level of strong demand from the government and defense information technology sectors," he added.

"MITRE is the first major company to significantly expand its location in Anne Arundel County as a result of BRAC," said Anne Arundel County Executive John R. Leopold. "I extend my congratulations for their growth in Anne Arundel County. MITRE will be a terrific addition to the top tier companies already located at NBP and will continue as an important part of our thriving defense sector," he added.

Company Information

Corporate Office Properties Trust (COPT) (NYSE: OFC) is a specialty office real estate investment trust (REIT) that focuses on strategic customer relationships and specialized tenant requirements in the U.S. Government, Defense Information Technology and Data sectors. The Company acquires, develops, manages and leases properties which are typically concentrated in large office parks primarily located adjacent to government demand drivers and/or in growth corridors. As of September 30, 2008, the Company owned 254 office and data properties totaling 19.1 million rentable square feet, which includes 19 properties totaling 847,000 square feet held through joint ventures. The Company's portfolio primarily consists of technically sophisticated buildings in visually appealing settings that are environmentally sensitive, sustainable and meet unique customer requirements. More information on COPT can be found at www.copt.com.

Forward-Looking Information

This press release may contain "forward-looking" statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company's current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as "may", "will", "should", "expect", "estimate" or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Accordingly, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements.

Important factors that may affect these expectations, estimates, and projections include, but are not limited to:

    --  the Company's ability to borrow on favorable terms;
    --  general economic and business conditions, which will, among other
        things, affect office property demand and rents, tenant
        creditworthiness, interest rates and financing availability;
    --  adverse changes in the real estate markets including, among other
        things, increased competition with other companies;
    --  risk of real estate acquisition and development, including, among other
        things, risks that development projects may not be completed on
        schedule, that tenants may not take occupancy or pay rent or that
        development or operating costs may be greater than anticipated;
    --  risks of investing through joint venture structures, including risks
        that the Company's joint venture partners may not fulfill their
        financial obligations as investors or may take actions that are
        inconsistent with the Company's objectives;
    --  our ability to satisfy and operate effectively under federal income tax
        rules relating to real estate investment trusts and partnerships;
    --  governmental actions and initiatives; and
    --  environmental requirements.

The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company's filings with the Securities and Exchange Commission, particularly the section entitled "Risk Factors" in Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 2007.

    Source: Corporate Office Properties Trust (COPT)

Released December 11, 2008