KTR Keystone Prop Tr

Keystone Property Trust Announces Regular Quarterly Dividend and Plans for 2004 First Quarter Earnings Results Release WEST CONSHOHOCKEN, Pa., April 6 /PRNewswire-FirstCall/ -- Keystone Property Trust today announced that its Board of Trustees has declared a dividend of $0.33 per common share payable on April 30, 2004, to shareholders of record as of April 16, 2004. The dividend represents an annualized rate of $1.32 per common share. The Board of Trustees has declared a dividend of $0.5703125 per share of Series D Cumulative Redeemable Preferred Stock (NYSE:KTRPrD) ("Series D") payable on April 30, 2004, to shareholders of record as of April 16, 2004. This dividend represents an annualized rate of $2.28125 per Series D preferred share. The Board of Trustees has also declared a dividend of $0.2355903 per share of Series E Cumulative Redeemable Preferred Stock (NYSE:KTRPrE) ("Series E") payable on April 30, 2004, to shareholders of record as of April 16, 2004. The dividend is prorated for the period from March 15, 2004, the date of original issuance of the Series E preferred shares, through April 30, 2004, and represents an annualized rate of $1.84375 per Series E preferred share. In addition, Keystone today announceddetails for the release of its results for the quarter ended March 31, 2004. The Company plans to issue its first quarter earnings release after the market closes on Tuesday, April 20, 2004, and have a follow-up conference call at 11:00 a.m. Eastern Time on Wednesday, April 21, 2004. The toll-free call-in number is 1-800-289-0528, confirmation code 614413. Callers are encouraged to dial-in five to ten minutes prior to the start time to ensure that they participate from the beginning of the call. A replay of the conference call will be available starting at 2:00 p.m. on that day through May 5, 2004 until midnight Eastern Time. The telephone number for the replay is 1-719-457-0820, confirmation code 614413. Additional information about Keystone's quarterly results can be found in the supplemental information package, which will be posted to the Company's website on April 20, 2004 in the Financial Reports section under Investor Relations. Interested followers are encouraged to join a webcastof the call which can be accessed through the Company website at http://www.keystoneproperty.com/ under Investor Relations. Listeners are encouraged to log-on five to ten minutes prior to start time to ensure participation from the beginning. Followers unable to participate in the live webcast can access the archive on the website under Investor Relations. Keystone Property Trust, with headquarters in West Conshohocken, Pennsylvania, is a fully integrated real estate investment trust with a current portfolio of 142 properties, including properties under development, over 33 million square feet in the Eastern United States. For more information, contact Aleathia M. Hoster at (212) 527-9900, send email to or visit the Company website at http://www.keystoneproperty.com/. This press release may contain statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the intent, belief or current expectations of the Company, its trustees, or its officers with respect to the future operating performance of the Company and the result and the effect of legal proceedings. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Important factors that could cause such differences are described in the Company's periodic filings with the Securities and Exchange Commission, including the Company's Form 10-K and quarterly reports on Form 10-Q. DATASOURCE: Keystone Property Trust CONTACT: Aleathia M. Hoster of Keystone Property Trust, +1-212-527-9900; or Media: Michael Beckerman, +1-908-781-6420, , for Keystone Property Trust Web site: http://www.keystoneproperty.com/

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