COPT Announces Changes to Board of Trustees

  COPT Announces Changes to Board of Trustees

Business Wire

COLUMBIA, Md. -- March 28, 2013

Corporate Office Properties Trust (COPT or the Company) (NYSE: OFC) announced
that Jay H. Shidler and Clay W. Hamlin, III will step down from their
respective positions as Chairman and Vice Chairman of the Company’s Board of
Trustees, effective at the Company’s upcoming annual meeting of shareholders
on May 9, ^ 2013. Both are nominated for re-election at the meeting and if
elected will remain on the Board as trustees. Thomas F. Brady, who has served
on the Company’s Board since January 2002 and is also nominated for
re-election, has been appointed Chairman of the Board, also effective May 9,
2013.

"It has been an honor to serve as Chairman of Corporate Office Properties
Trust since 1997," stated Jay H. Shidler, Chairman of the Board of Trustees
for Corporate Office Properties Trust. "Tom’s extensive career in key
financial and strategic executive positions at a substantial public company
qualifies him to lead our Board and assess our strategic initiatives,” he
stated.

Mr. Brady was Chairman of the Board of Directors of Baltimore Gas & Electric
Company (‘‘BGE’’) and Executive Vice President - Corporate Strategy at
Constellation Energy Group (‘‘CEG’’) (formerly NYSE: CEG, now a subsidiary of
Exelon Corporation, NYSE: EXC). During his career at CEG/BGE, Mr. Brady held a
series of senior executive positions providing experience in strategy, mergers
and acquisitions, entrepreneurial start-up businesses, managing local utility
operations and chief accounting officer responsibilities. Prior to its
acquisition by Exelon, CEG was a Fortune 200 company owning energy related
businesses, including BGE. BGE is the largest electric and gas utility in
Maryland. He continued to serve on the Board of Directors of BGE through 2012.
Mr. Brady is Chairman of the Opower Advisory Board, a global leader in
providing energy information software to the utility industry. Mr. Brady is
also on the Board of Directors of ENBALA Power Networks Ltd., a smart grid
technology company providing innovative grid balancing services to utilities
and electric system operators. Both Opower and ENBALA are privately-owned
clean technology companies. Mr. Brady is also a Trustee and Treasurer of the
Board of Stevenson University.

Company Information

COPT is an office REIT that focuses primarily on serving the specialized
requirements of U.S. Government agencies and defense contractors, most of whom
are engaged in defense information technology and national security-related
activities. The Company generally acquires, develops, manages and leases
office and data center properties concentrated in large office parks primarily
located near knowledge-based government demand drivers and/or in targeted
markets or submarkets in the Greater Washington, DC/Baltimore region. As of
December 31, 2012, the Company’s consolidated portfolio consisted of 208
office properties totaling 18.8  million rentable square feet. COPT is an S&P
MidCap 400 company.

Forward-Looking Information

This press release may contain “forward-looking” statements, as defined in
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, that are based on the Company’s current expectations,
estimates and projections about future events and financial trends affecting
the Company. Forward-looking statements can be identified by the use of words
such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,”
“estimate,” “plan” or other comparable terminology. Forward-looking statements
are inherently subject to risks and uncertainties, many of which the Company
cannot predict with accuracy and some of which the Company might not even
anticipate. Accordingly, the Company can give no assurance that these
expectations, estimates and projections will be achieved. Future events and
actual results may differ materially from those discussed in the
forward-looking statements.

Important factors that may affect these expectations, estimates, and
projections include, but are not limited to:

  *general economic and business conditions, which will, among other things,
    affect office property and data center demand and rents, tenant
    creditworthiness, interest rates, financing availability and property
    values;
  *adverse changes in the real estate markets including, among other things,
    increased competition with other companies;
  *governmental actions and initiatives, including risks associated with the
    impact of a government shutdown or budgetary reductions or impasses, such
    as a reduction in rental revenues, non-renewal of leases, and/or a
    curtailment of demand for additional space by the Company's strategic
    customers;
  *the Company’s ability to borrow on favorable terms;
  *risks of real estate acquisition and development activities, including,
    among other things, risks that development projects may not be completed
    on schedule, that tenants may not take occupancy or pay rent or that
    development or operating costs may be greater than anticipated;
  *the Company’s ability to sell properties included in its Strategic
    Reallocation Plan;
  *risks of investing through joint venture structures, including risks that
    the Company’s joint venture partners may not fulfill their financial
    obligations as investors or may take actions that are inconsistent with
    the Company’s objectives;
  *changes in the Company’s plans for properties or views of market economic
    conditions or failure to obtain development rights, either of which could
    result in recognition of significant impairment losses;
  *the Company’s ability to satisfy and operate effectively under Federal
    income tax rules relating to real estate investment trusts and
    partnerships;
  *the Company's ability to achieve projected results;
  *the dilutive effects of issuing additional common shares; and
  *environmental requirements.

The Company undertakes no obligation to update or supplement any
forward-looking statements. For further information, please refer to the
Company’s filings with the Securities and Exchange Commission, particularly
the section entitled “Risk Factors” in Item 1A of the Company’s Annual Report
on Form 10-K for the year ended December 31, 2012.

Contact:

Corporate Office Properties Trust
IR Contacts:
Stephanie Krewson, 443-285-5453
stephanie.krewson@copt.com
or
Michelle Layne, 443-285-5452
michelle.layne@copt.com
 
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