CommonWealth REIT Re-confirms Intention to Pursue Common Share Offering and Debt Tender Offer

  CommonWealth REIT Re-confirms Intention to Pursue Common Share Offering and
  Debt Tender Offer

Business Wire

NEWTON, Mass. -- February 27, 2013

CommonWealth REIT (NYSE: CWH) (“CommonWealth”) today announced that its Board
of Trustees has re-confirmed its prior determination that the best interests
of CommonWealth will be served by CommonWealth continuing the common share
offering and debt tender offer previously announced on February 25, 2013. This
second confirmation is issued to respond to the latest information received by
CommonWealth from Corvex Management LP (“Corvex”) and Related Fund Management,
LLC (“Related”).

The Board of Trustees’ decision to re-confirm was made after considering the
amended Schedule 13D that was jointly filed on February 27, 2013 by Corvex and
Related with the Securities and Exchange Commission, including the additional
“open letter” from Corvex and Related and the form of complaint that were
filed as exhibits to that amendment, and the litigation that was subsequently
commenced by Corvex and Related. Commonwealth has included the additional open
letter from Corvex and Related and the form of complaint that Corvex and
Related filed as exhibits to their Schedule 13D amendment as exhibits to a
Form 8-K CommonWealth filed earlier today.

The Corvex and Related documents mentioned above are not the Company’s
documents and the Company does not endorse or confirm, and is not responsible
for, their content. Reference to these Corvex and Related documents is
intended only to provide context to today’s announcement.

This press release is neither an offer to sell nor a solicitation of an offer
to buy CommonWealth common shares, nor shall there by any sale of these
securities in any state or jurisdiction in which the offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. The preliminary prospectus
supplement relating to this offering and related prospectus have been filed
with the Securities and Exchange Commission and copies can be obtained by
contacting the offices of Citigroup, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; BofA
Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038;
email dg.prospectusrequests@baml.com; UBS Investment Bank, Attn. Prospectus
Department, 299 Park Avenue, New York, NY 10171, telephone (888) 827-7275; or
Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2^nd floor,
New York, NY 10014, telephone (866) 718-1649; email:
prospectus@morganstanley.com.

This press release is neither an offer to buy nor a solicitation of an offer
to sell any of CommonWealth’s outstanding senior notes which are the subject
of the tender offer CommonWealth announced on February 25, 2013 (the “Senior
Notes”). Citigroup Global Markets Inc. and RBC Capital Markets, LLC are the
Dealer Managers for that tender offer. Investors with questions regarding the
tender offer may contact Citigroup Global Markets Inc. at (800) 558-3745
(toll-free) or (212) 723-6106 (collect) and RBC Capital Markets, LLC at (877)
381-2099 (toll-free) or (212) 618-7822 (collect). Global Bondholder Services
Corp. is the tender agent and information agent for the Offer and can be
contacted at (212) 430-3774 or (866) 952-2200 (toll-free).

None of CommonWealth, the tender agent, the information agent, or the Dealer
Managers makes any recommendation as to whether holders of Senior Notes should
tender their Senior Notes in the tender offer. The full details of the tender
offer for the Senior Notes, including complete instructions on how to tender
Senior Notes, are included in the offer to purchase, the letter of transmittal
and related materials. Holders are strongly encouraged to read carefully the
offer to purchase and letter of transmittal and any other related materials,
including materials filed with the Securities and Exchange Commission and
incorporated by reference therein, because they will contain important
information.

Holders may obtain a copy of the tender offer documents, free of charge, from
Global Bondholder Services Corp., the tender agent and information agent in
connection with the tender offer, by calling toll-free at (866) 952-2200
(bankers and brokers can call collect at (212)430-3774). Holders are urged to
carefully read these materials prior to making any decisions with respect to
the tender offer.

                WARNING CONCERNING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORMACT OF 1995 AND OTHER SECURITIES
LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON COMMONWEALTH’S PRESENT
BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR
EXAMPLE, ALTHOUGH THIS PRESS RELEASE STATES THAT COMMONWEALTH’S BOARD OF
TRUSTEES HAS RE-CONFIRMED ITS PRIOR DETERMINATION THAT THE BEST INTERESTS OF
COMMONWEALTH WILL BE SERVED BY COMMONWEALTH CONTINUING THE COMMON SHARE
OFFERING AND THE DEBT TENDER OFFER ANNOUNCED ON FEBRUARY 25, 2013, THERE CAN
BE NO ASSURANCE THAT THE COMMON SHARE OFFERING OR THE DEBT TENDER OFFER WILL
BE CONSUMMATED, THAT THEY WILL NOT BE DELAYED OR THAT THE TERMS WILL NOT
CHANGE. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING
STATEMENT.

 A Maryland Real Estate Trust with transferable shares of beneficial interest
 listed on the New York Stock Exchange. No shareholder, Trustee or officer is
          personally liable for any act or obligation of the Trust.

Contact:

CommonWealth REIT
Timothy A. Bonang, 617-796-8222
Vice President, Investor Relations
or
Carlynn Finn, 617-796-8222
Senior Manager, Investor Relations