Lexington Realty Trust Announces Financings

Lexington Realty Trust Announces Financings

  *Refinances Secured Credit Facility With Unsecured Credit Facility
    Consisting Of $300.0 Million Revolving Loan And $250.0 Million Term Loan
  *Obtains $40.0 Million Mortgage On Lenexa, Kansas Property
  *Joint Venture Obtains $15.3 Million Mortgage On Palm Beach Gardens,
    Florida Property

NEW YORK, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Lexington Realty Trust
("Lexington") (NYSE:LXP), a real estate investment trust (REIT) focused on
single-tenant real estate investments, announced that it refinanced its
existing secured credit facility with a senior unsecured credit facility,
consisting of a revolving loan of up to $300.0 million and a term loan of up
to $250.0 million. In addition, Lexington announced a $40.0 million mortgage
financing secured by its property in Lenexa, Kansas and a $15.3 mortgage
financing of a property in Palm Beach Gardens, Florida owned by a joint
venture.

Comments from Management

Patrick Carroll, Lexington's Chief Financial Officer, commented, "These
financings enhance our financial flexibility, extend our debt maturities and
reduce our borrowing costs.In March 2013, we intend to retire $137.9 million
of mortgage debt, which currently bears interest at a weighted average
interest rate of 5.3%.By paying off these mortgages, we are continuing our
strategy of retiring certain secured debt as it matures in order to unencumber
assets and add to our unsecured borrowing capacity. We believe Lexington
continues to have significant opportunities to create value for shareholders
by lowering financing costs and improving cash flow through such
refinancings."

Senior Unsecured Credit Facility

The revolving loan portion of the senior unsecured credit facility matures on
February 12, 2017, but can be extended for one year at Lexington's option, and
the term loan portion of the senior unsecured credit facility matures on
February 12, 2018.The senior unsecured credit facility requires regular
payments of interest only at an interest rate dependent on Lexington's
leverage (as defined in the credit agreement), as follows and as compared to
the previous facility with respect to the revolving loan:

                                                          
                         Previous Facility Revolving Loan    Term Loan
Leverage                 Applicable Margin Applicable Margin Applicable Margin
                         Over LIBOR        Over LIBOR        Over LIBOR
Less than 45%            1.625%            1.500%            1.450%
Greater than or equal to 1.875%            1.750%            1.700%
45% but less than 50%
Greater than or equal to 2.125%            1.875%            1.825%
50% but less than 55%
Greater than or equal to 2.375%            2.050%            2.000%
55%

Upon the date when Lexington obtains an investment grade debt rating from at
least two of Standard & Poor's, Moody's and Fitch, the interest rate under the
senior unsecured credit facility is dependent on Lexington's debt rating, as
follows:

                                               
                               Revolving Loan    Term Loan
Debt Rating                    Applicable Margin Applicable Margin
                               Over LIBOR        Over LIBOR
At least A- or A3              0.950%            1.100%
At least BBB+ or Baa1          1.050%            1.200%
At least BBB or Baa2           1.150%            1.350%
At least BBB- or Baa3          1.400%            1.650%
Below BBB- or Baa3, or unrated 1.725%            2.100%

There is no restriction on prepayments under the senior unsecured credit
facility.

Lexington expects to use the proceeds from the senior unsecured credit
facility for general working capital, including to refinance certain
indebtedness and to fund property investments.Four draws under the term loan
can be made until February 12, 2014.

In connection with the refinancing, Lexington amended its $255.0 seven-year
secured term loan agreement to release the security.As a result, all of
Lexington's corporate borrowings are now unsecured.

Mortgage Financings

Lexington also announced that it obtained a $40.0 million non-recourse
mortgage secured by its previously unencumbered property in Lenexa,
Kansas.The mortgage loan is comprised of two notes, a $30.0 million fully
amortizing note at a fixed interest rate of 3.40%, and a $10.0 million
interest only note at a fixed rate of 4.60%.The notes mature in November
2027.

A joint venture, in which Lexington has a minority interest, that owns a
retail property in Palm Beach Gardens, Florida, obtained a $15.3 million
non-recourse mortgage secured by such property.The mortgage loan bears
interest at a fixed interest rate of 3.70% and matures in March 2018.The
mortgage loan proceeds were used to fully repay a $12.0 million bridge loan
Lexington made to the joint venture when the property was acquired.

                         ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns, invests
in, and manages office, industrial and retail properties net-leased to major
corporations throughout the United States and provides investment advisory and
asset management services to investors in the net lease area. Lexington
shares are traded on the New York Stock Exchange under the symbol
"LXP".Additional information about Lexington is available on-line at
www.lxp.com or by contacting Lexington Realty Trust, Investor Relations, One
Penn Plaza, Suite 4015, New York, New York 10119-4015.

This release contains certain forward-looking statements which involve known
and unknown risks, uncertainties or other factors not under Lexington's
control which may cause actual results, performance or achievements of
Lexington to be materially different from the results, performance, or other
expectations implied by these forward-looking statements. Factors that could
cause or contribute to such differences include, but are not limited to, those
discussed under the headings "Management's Discussion and Analysis of
Financial Condition and Results of Operations" and "Risk Factors" in
Lexington's periodic reports filed with the Securities and Exchange
Commission, including risks related to: (1) failure to maintain leverage
ratios specified in the credit agreement for the senior unsecured credit
facility or comply with financial covenants in the credit agreement for the
senior unsecured credit facility, and (2) failure to use the proceeds of the
unsecured credit facility as described above. Copies of the periodic reports
Lexington files with the Securities and Exchange Commission are available on
Lexington's website at www.lxp.com. Forward-looking statements, which are
based on certain assumptions and describe Lexington's future plans, strategies
and expectations, are generally identifiable by use of the words
"believes,""expects,""intends,""anticipates,""estimates,""projects", "is
optimistic" or similar expressions. Lexington undertakes no obligation to
publicly release the results of any revisions to those forward-looking
statements which may be made to reflect events or circumstances after the
occurrence of unanticipated events. Accordingly, there is no assurance that
Lexington's expectations will be realized.

CONTACT: Investor or Media Inquiries, Patrick Carroll, CFO
         Lexington Realty Trust
         Phone: (212) 692-7200 E-mail: pcarroll@lxp.com
 
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