(Source: MARKETWIRE)Duke Realty Corporation (NYSE: DRE), a leading industrial and office property REIT, announced today that its operating partnership, Duke Realty Limited Partnership (the "Operating Partnership"), has commenced cash tender offers to purchase a portion of its outstanding notes as described below. The terms and conditions of the tender offers are described in the Operating Partnership's offer to purchase dated August 31, 2009 (the "Offer to Purchase") and related Letter of Transmittal.

The Operating Partnership expects to use cash on hand and available borrowings under its revolving credit facilities, as well as proceeds from asset sales and retained cash flow from operations to consummate the Tender Offers.

The Tender Offers

Upon the terms and subject to the conditions described in the Offer to Purchase, the Letter of Transmittal and any amendments or supplements to the foregoing, the Operating Partnership is offering to purchase for cash

(1) any and all of its 7.75% Senior Notes due 2009 (the "7.75% Notes") and the 5.25% Senior Notes due 2010 (the "5.25% Notes" and, together with the 7.75% Notes, the "Any and All Notes"); and

(2) up to the maximum aggregate principal amount of its 6.95% Senior Notes due 2011 (the "6.95% Notes"), 5.625% Senior Notes due 2011 (the "5.625% Notes"), 5.875% Senior Notes due 2012 (the "5.875% Notes") and 5.45% Senior Notes due 2012 (the "5.45% Notes" and, together with the 6.95% Notes, the 5.625% Notes and the 5.875% Notes, the "Maximum Tender Offer Notes") that the Operating Partnership can purchase for $50,000,000 (subject to increase in the Operating Partnership's sole discretion),

in each case at a purchase price per $1,000 principal amount as set forth in the table below.

The Operating Partnership refers to its offer to purchase the Any and All Notes as the "Any and All Tender Offer," its offer to purchase the Maximum Tender Offer Notes as the "Maximum Tender Offer" and both offers, collectively, as the "Tender Offers."

The Any and All Tender Offer will expire at 5:00 p.m., New York City time, on September 11, 2009 (the "Any and All Expiration Date"), and the Maximum Tender Offer will expire at 11:59 p.m., New York City time, on September 28, 2009 (the "Maximum Tender Offer Expiration Date"), in each case unless extended or earlier terminated.

The following table sets forth some of the terms of the Tender Offers:

                                                   Tender   Early    Total                            Principal  Acceptance  Offer    Tender Consider-                   CUSIP      Amount    Priority Consider- Premium   ation Title of Notes    Number   Outstanding   Level  ation (1)   (1)    (1)(2)                  --------- ------------ ------- --------- ------- --------- Any and All  Tender Offer    7.75% Senior     Notes due     2009         26441YAC1 $121,440,000   N/A   $1,010.55     N/A       N/A    5.25% Senior     Notes due     2010         26441YAE7  157,728,000   N/A    1,012.50     N/A       N/A Maximum Tender  Offer    6.95% Senior     Notes due     2011         26441YAD9 $156,815,000    1    $1,012.50  $30.00 $1,042.50    5.625% Senior     Notes due     2011         26441YAL1  218,347,000    2       998.75   30.00  1,028.75    5.875% Senior     Notes due     2012         264411AB5  150,000,000    3       997.50   30.00  1,027.50    5.45% Senior     Notes due     2012         26441QAD6   50,000,000    4       983.75   30.00  1,013.75 -------------------------------------------------- (1) Per $1,000 principal amount of Notes tendered. (2) Includes Early Tender Premium. 

The consideration for each $1,000 principal amount of each series of securities validly tendered and accepted for purchase pursuant to the Tender Offers will be the applicable consideration for such series of securities set forth in the table above (with respect to each series, the "Tender Offer Consideration").