Corporate Office Properties Trust Appoints Douglas M. Firstenberg to Board of Trustees


Corporate Office Properties Trust (COPT) (NYSE:OFC) announced today that the Company appointed Douglas M. Firstenberg to serve on the Company's Board of Trustees. Mr. Firstenberg is a founding principal of Stonebridge Associates, Inc., a real estate development and advisory firm.

Mr. Firstenberg has over 25 years of real estate investment and development experience. In his current role at Stonebridge, he focuses on strategic planning and development projects with a primary role in major transaction negotiation. His experience includes construction and land development in excess of four million square feet and more than $1.5 billion in value. Mr. Firstenberg is involved in all phases of real estate transactions, including acquisitions, dispositions, joint ventures, debt financing, development and entitlement and lease negotiation.

Mr. Firstenberg graduated from Duke University with a Bachelor of Arts degree. He is currently a member of the Board of Directors for the Montgomery College Foundation, the Duke Club of Washington and the NoMA Business Improvement District. He has previously served on the Board of Visitors for Duke's Terry Sanford Institute of Public Policy, Duke's Executive Leadership Board of Washington, and the Board of Directors for the Washington Scholarship Fund and the Montgomery County Chamber of Commerce.

"We are pleased to have attracted an experienced real estate professional to COPT's Board of Trustees," stated Jay H. Shidler, Chairman of the Board of Trustees for Corporate Office Properties Trust. "We look forward to utilizing his extensive knowledge in real estate and development as a resource as the Company continues to grow," he stated.

Company Information

Corporate Office Properties Trust (COPT) is a fully integrated, self-managed real estate investment trust (REIT) that focuses on the ownership, management, leasing, acquisition and development of suburban office properties located primarily in submarkets within the Greater Washington, DC region. As of December 31, 2006, the Company owned 188 office properties totaling 15.9 million rentable square feet, which included 18 properties totaling 805,000 square feet held through joint ventures. The Company has implemented a core customer expansion strategy that is built around meeting, through acquisitions and development, the multi-location requirements of the Company's existing strategic tenants. The Company's property management services team provides comprehensive property and asset management to company owned properties and select third party clients. The Company's development and construction services team provides a wide range of development and construction management services for company owned properties, as well as land planning, design/build services, consulting, and merchant development to select third party clients. The Company's shares are traded on the New York Stock Exchange under the symbol OFC. More information on Corporate Office Properties Trust can be found on the Internet at

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

    --  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, 2005.

Source: Corporate Office Properties Trust (COPT)