Corporate Office Properties Trust Signs 41,500 Square Foot Lease at M Square Research Park

COLUMBIA, Md.--(BUSINESS WIRE)--

Corporate Office Properties Trust (COPT) (NYSE:OFC) announced today the execution of a lease for 41,500 square feet of research office space for the University of Maryland's Earth System Science Interdisciplinary Center (ESSIC) in the first four-story, 116,000 square foot Class A office building at M Square Research Park. The building, located at 5825 University Research Court in College Park, Maryland, has an anticipated completion date of second quarter 2008.

ESSIC's goal is to enhance the understanding of how the Earth's atmosphere, ocean, land, and biosphere interact as a coupled system and the influence of human activities on this system. ESSIC will occupy the fourth and part of the third floors of the building with a scheduled occupancy date of May 2008.

COPT recently announced the formation of a joint venture with the University of Maryland and Manekin in which COPT owns a 45% interest, to co-develop, lease and manage approximately 750,000 square feet of new office space in 8 buildings. The 124 acre M Square Research Park site is owned by the University of Maryland and has been designated as its official research park. M Square Research Park is located adjacent to the University of Maryland campus at the intersection of Route 1 and Paint Branch Parkway in College Park, Maryland. Other tenants at the research park include the National Oceanic and Atmospheric Administration and the UM Center for the Advanced Study of Languages. This will be a multi-year phased development plan. Phase I of the project will comprise 3 buildings totaling an estimated 315,000 square feet.

This is COPT's second public/private collaboration to develop research campuses for institutions of higher education. COPT's first collaborative effort was with the University of Maryland, Baltimore County's Research and Technology Park, bwtech@UMBC.

"We are pleased to sign our first lease at M Square, exhibiting the current tenant demand for office space in the research park," stated Randall M. Griffin, President and Chief Executive Officer for Corporate Office Properties Trust. "We are also very excited to be selected as the co-developer to assist the University of Maryland with their plans to expand this research park and support the communities where we live and work," 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 and develops properties which are typically concentrated in large office parks primarily located adjacent to government demand drivers and/or in growth corridors. As of December 31, 2007, the Company owned 246 office and data properties totaling 18.6 million rentable square feet, which includes 18 properties totaling 806,000 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 April 30, 2008