Liberty Property Trust Announces 2013 Financial Projections

         Liberty Property Trust Announces 2013 Financial Projections

PR Newswire

MALVERN, Pa., Dec. 11, 2012

MALVERN, Pa., Dec. 11, 2012 /PRNewswire/ --Liberty Property Trust has
announced its expected 2013 financial results, and is affirming
previously-announced expectations for 2012. Liberty expects to report funds
from operations ("FFO") per share in the range of $2.57 - $2.59 for 2012 and
in the range of $2.60 - $2.70 for 2013.

Commenting on this guidance, Liberty's chief executive officer, Bill Hankowsky
said: "In developing guidance for 2013, we have assumed that the economic
recovery will continue to slowly improve. We expect occupancy to increase for
both our office and industrial portfolios. We believe that market rents have
bottomed in both office and industrial, but we are still experiencing
roll-downs in rents in our office portfolio as we release space previously
leased at height-of-the-market rates. At this point, acquisition opportunities
are scarce and we expect our external growth to be primarily through
development. We should continue to benefit from increased development
opportunities as new space is required to satisfy pent-up demand and changes
in how companies are doing business."

A reconciliation of projected FFO to projected GAAP net income for both 2012
and 2013 is below (all amounts projected):

                                          2012 Range     2013 Range
                                          Low    High    Low    High
Net income per share                      $ 1.15 $ 1.16  $ 1.38 $ 1.52
Depreciation and amortization of
 unconsolidated joint ventures          0.12   0.13    0.11   0.13
Depreciation and amortization             1.39   1.40    1.40   1.44
Gain on property dispositions             (0.05) (0.06)  (0.25) (0.35)
Noncontrolling interest share of addbacks (0.04) (0.04)  (0.04) (0.04)
Funds from operations per share           $ 2.57 $ 2.59  $ 2.60 $ 2.70

About the Company

Liberty Property Trust (NYSE: LRY) is a leader in commercial real estate,
serving customers in the United States and United Kingdom, through the
development, acquisition, ownership and management of superior office and
industrial properties. Liberty's 78 million square foot portfolio consists of
650 properties providing office, distribution and light manufacturing
facilities to 1,800 tenants.

Additional information about the company is available in the Investors section
of the company's web site at www.libertyproperty.com.

Liberty will host a conference call during which management will discuss these
projections and underlying assumptions on Tuesday, December 11, 2012, at 11:00
A.M., ET. The conference call can be accessed by dialing (888) 870-2815 and
entering the passcode 75484651. The conference call will also be available
live at www.libertyproperty.com in the "Investor Relations" section of the
site. If you are unable to join the conference call, you may access the
archived webcast in the Investor Relations section of the web site. In
addition, a recording will be available telephonically until January 11, 2013
by dialing (855) 859-2056and using the passcode 75484651.

The statements contained in this press release may include forward-looking
statements within the meaning of the federal securities law. Although Liberty
believes that the expectations reflected in such forward-looking statements
are based on reasonable assumptions, it can give no assurance that its
expectations will be achieved. As forward-looking statements, these
statements involve risks, uncertainties and other factors that could cause
actual results to differ materially from the expected results. These factors
include, without limitation, the uncertainties affecting real estate
businesses generally (such as entry into new leases, renewals of leases and
dependence on tenants' business operations), risks relating to our ability to
maintain and increase property occupancy and rental rates, the financial
condition of tenants, the uncertainties of real estate development and
construction activity, the costs and availability of financing, the effects of
local economic and market conditions, regulatory changes, potential liability
relative to environmental matters and other risks and uncertainties detailed
in the company's filings with the Securities and Exchange Commission. The
company assumes no obligation to update or supplement forward-looking
statements that become untrue because of subsequent events.

SOURCE Liberty Property Trust

Website: http://www.libertyproperty.com
Contact: Jeanne A. Leonard, Liberty Property Trust, +1-610-648-1704
 
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