RPB Republic Property Tr

Republic Property Trust (๏ฟฝRepublic๏ฟฝ) (NYSE:RPB) announced today that it has executed a 10-year lease with XO Communications, LLC (๏ฟฝXO๏ฟฝ) at Presidents Park II for 105,000 square feet, which will serve as their corporate headquarters. XO intends to take occupancy in the fourth quarter 2007. XO is a facilities-based telecommunications services provider that delivers an array of services to the telecommunications provider, business and government markets. XO๏ฟฝs revenues for the 12 months ended September 30, 2006 amounted to approximately $1.4 billion. Since Republic๏ฟฝs initial public offering, Presidents Park II has represented the company๏ฟฝs largest block of vacancy. With the execution of the XO lease, Presidents Park II is now 85% leased. Thus far in the first quarter 2007, the Company has leased over 172,000 square feet of space across its existing portfolio of operating properties, bringing it, as a whole, to 94% leased. Republic Property Trust has two other leases currently under negotiation which, if executed, would result in the existing portfolio being over 95% leased. Mark Keller, CEO of Republic Property Trust, stated, ๏ฟฝWe anticipate that our leasing success will continue throughout the year. Our ability to execute leases for our vacant space supports our FFO growth, dividend and our strategy of acquiring value-add opportunities to maximize shareholder value.๏ฟฝ Mr. Keller added that, ๏ฟฝXO is a great addition to our tenant roster. The future increase in occupancy bodes well for our real estate valuation.๏ฟฝ Mike Jones, Senior Vice President of Leasing and Marketing, stated, ๏ฟฝThrough hard work by our leasing team and market insight, we have secured XO at Presidents Park. In the past four months, we have made significant progress reducing vacancy throughout our portfolio.๏ฟฝ Company management will discuss the XO lease, its previously announced acquisition of 1129 20th Street, NW, and other recent events in its fourth quarter earnings call, scheduled for March 8, 2007. About Republic Property Trust Republic Property Trust is a fully integrated, self-administered and self- managed real estate investment trust formed to own, operate, lease, acquire and develop primarily Class A office properties. The Company's current portfolio is focused in the Washington, D.C. metropolitan, or Greater Washington, D.C., market. Safe Harbor Various statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "strategy," "plan," "project," "believe," "anticipate," "intend," "should," "will," "expect," "estimate," and similar expressions identify these forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to differ materially from historical results or from any results expressed or implied by these forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; financing risks; property management risks; the level and volatility of interest rates; financial stability of tenants; the Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition, disposition, development and joint venture risks; potential environmental and other liabilities; the Company's ability to pay its estimated distribution at its current rate; the impact of potential management changes; the Company's ability to acquire its options properties; the outcome of any material litigation; and other factors affecting the real estate industry generally. The Company refers you to the documents filed by it from time to time with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, each of which discusses these and other factors that could adversely affect the Company's results. The Company does not undertake a duty to update or revise any forward-looking statement whether as a result of new information, future events or otherwise.