COPT Prices Common Stock Offering

Corporate Office Properties Trust, Columbia, Md., has priced its public offering of 2.6 million common shares at $24.35 per share. The offering is 500,000 shares larger than originally planned. COPT has granted the underwriters an option to purchase up to an additional 390,000 shares during the next 30 days. It estimates that the net proceeds from this offering, before expenses, will be approximately $63 million. If the underwriters' option to purchase additional shares is exercised in full, it will bring in approximately $73 million. The offering is expected to close on April 7, 2009, subject to customary closing conditions. The joint book-running managers for this offering are Merrill Lynch & Co. and KeyBanc Capital Markets. COPT plans to use the net proceeds from the sale to repay borrowings under its unsecured revolving credit facility and for general corporate purposes. On April 1, the day the offering was priced, COPT closed at $24.40; by midday of the next trading day, it was trading at $26.05 per share.