Select Income REIT Prices Offering of 10,500,000 Common Shares

  Select Income REIT Prices Offering of 10,500,000 Common Shares

Business Wire

NEWTON, Mass. -- June 27, 2013

Select Income REIT (NYSE: SIR) today announced that it priced a public
offering of 10,500,000 common shares at a price to the public of $28.25 per
share. The settlement of this offering is expected to occur on Tuesday, July
2, 2013. SIR expects to use the net proceeds of this offering to repay amounts
outstanding under its revolving credit facility and for general business
purposes including property acquisitions. The underwriters have been granted a
30-day option to purchase up to an additional 1,575,000 common shares.

The joint bookrunning managers of the offering are BofA Merrill Lynch,
Citigroup, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities and RBC
Capital Markets. The lead manager of the offering is Jefferies LLC. The
co-managers are BB&T Capital Markets, Janney Montgomery Scott, JMP Securities,
MLV & Co., and Oppenheimer & Co.

This press release is neither an offer to sell nor a solicitation of an offer
to buy SIR common shares, nor shall there be 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 prospectus supplement relating to this
offering and related prospectus are expected to be filed with the Securities
and Exchange Commission (SEC) and copies can be obtained by contacting the
offices of: BofA Merrill Lynch, 222 Broadway, New York, New York, 10038;
Attention: Prospectus Department, by email at dg.prospectus_requests@baml.com;
or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, telephone: (800) 831-9146; or Morgan Stanley & Co. LLC,
Attention: Prospectus Department,180 Varick Street, 2^nd floor, New York, New
York, 10014; Attention: Prospectus Department, by email at
prospectus@morganstanley.com; or UBS Investment Bank, Attn: Prospectus
Department, 299 Park Avenue, New York, NY 10171, telephone: (888) 827-7275; or
Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York, 10152, by email at cmclientsupport@wellsfargo.com;
or RBC Capital Markets, Attention: Prospectus Department, Three World
Financial Center, 200 Vesey Street, 8th floor, New York, New York 10281-8098,
telephone: 877-822-4089.

                WARNING CONCERNING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE INCLUDES FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES
LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON SIR’S PRESENT BELIEFS
AND EXPECTATIONS, BUT THESE FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED. FOR
EXAMPLE:

  *THIS PRESS RELEASE STATES THAT THE SETTLEMENT OF THE OFFERING OF COMMON
    SHARES IS EXPECTED TO OCCUR ON JULY 2, 2013. IN FACT, THE SETTLEMENT OF
    THIS OFFERING IS SUBJECT TO VARIOUS CONDITIONS AND CONTINGENCIES AS ARE
    CUSTOMARY IN UNDERWRITING AGREEMENTS IN THE UNITED STATES. IF THESE
    CONDITIONS ARE NOT SATISFIED OR THE SPECIFIED CONTINGENCIES DO NOT OCCUR,
    THIS OFFERING MAY NOT CLOSE.
  *THIS PRESS RELEASE STATES THAT THE UNDERWRITERS HAVE BEEN GRANTED AN
    OPTION TO PURCHASE UP TO AN ADDITIONAL 1,575,000 COMMON SHARES. AN
    IMPLICATION OF THIS STATEMENT MAY BE THAT THIS OPTION MAY BE EXERCISED IN
    WHOLE OR IN PART. IN FACT, SIR DOES NOT KNOW WHETHER THE UNDERWRITERS WILL
    EXERCISE THIS OPTION, OR ANY PART OF IT.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE
RELIANCE UPON FORWARD LOOKING STATEMENTS.

A Maryland Real Estate Investment 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:

Select Income REIT
Timothy A. Bonang
Vice President, Investor Relations
or
Carlynn Finn
Senior Manager, Investor Relations
617-796-8320