TRZ Trizec Properties

Trizec Properties, Inc. (NYSE:TRZ) announced today that its Board of Directors declared a third quarter cash dividend of $0.20 per common share to be paid on September 29, 2006 to the holders of record at the close of business on September 22, 2006. Trizec Properties, Inc., a real estate investment trust ("REIT") headquartered in Chicago, is one of the largest owners and operators of commercial office properties in the United States. The Company has ownership interests in and manages a high-quality portfolio of 61 office properties totaling approximately 40 million square feet concentrated in the metropolitan areas of seven major U.S. markets. The Company trades on the New York Stock Exchange under the symbol TRZ. For more information, visit Trizec's Web site at www.trz.com or call toll free at (800) 891-7017.