Kilroy Realty Corporation Announces Planned Filing of Registration Statement Relating to Kilroy Realty, L.P.'s Outstanding 4.25%

  Kilroy Realty Corporation Announces Planned Filing of Registration Statement
  Relating to Kilroy Realty, L.P.'s Outstanding 4.25% Exchangeable Senior
  Notes Due 2014

Business Wire

LOS ANGELES -- August 26, 2013

Kilroy Realty Corporation (NYSE:KRC) announced that it intends to file with
the Securities and Exchange Commission, on or after September 17, 2013, a
registration statement on Form S-3 and a prospectus supplement to the
prospectus that forms a part of the registration statement that will cover
resales of its common stock that may be issued from time to time upon exchange
of the 4.25% Exchangeable Senior Notes due 2014 (the “Notes”) issued by Kilroy
Realty, L.P., its operating partnership. The registration statement is
anticipated to be immediately effective upon filing.

Holders of Notes who wish to be named in the prospectus supplement to the
prospectus that forms part of the registration statement in order to sell the
common stock issuable to them upon exchange of their Notes should complete a
selling stockholder notice and questionnaire contained in the offering
memorandum for the Notes and return it, no later than September 3, 2013, to:
Kilroy Realty Corporation, 12200 West Olympic Boulevard, Suite 200, Los
Angeles, California 90064, Attention: Corporate Legal Counsel.

This release is being issued in order to comply with the terms of the
indenture and registration rights agreement relating to the Notes. Kilroy
Realty Corporation will not receive any of the proceeds from the resale of the
common stock issuable upon exchange of the Notes. This release shall not
constitute an offer to sell or the solicitation of an offer to buy any of the
Kilroy Realty Corporation’s or Kilroy Realty, L.P.’s securities, nor shall it
constitute an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful.

Forward-Looking Statements. This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are based on our current expectations, beliefs and
assumptions, and are not guarantees of future performance. Forward-looking
statements are inherently subject to uncertainties, risks, changes in
circumstances, trends and factors that are difficult to predict, many of which
are outside of our control. Accordingly, actual performance, results and
events may vary materially from those indicated in forward-looking statements,
and you should not rely on forward-looking statements as predictions of future
performance, results or events. Numerous factors could cause actual future
performance, results and events to differ materially from those indicated in
forward-looking statements, including, among others, risks associated with:
investment in real estate assets, which are illiquid; trends in the real
estate industry; significant competition, which may decrease the occupancy and
rental rates of properties; the ability to successfully complete acquisitions
and dispositions on announced terms; the ability to successfully operate
acquired properties; the availability of cash for distribution and debt
service and exposure of risk of default under debt obligations; adverse
changes to, or implementations of, applicable laws, regulations or
legislation; and the ability to successfully complete development and
redevelopment projects on schedule and within budgeted amounts. These factors
are not exhaustive. For a discussion of additional factors that could
materially adversely affect our business and financial performance, see the
factors included under the caption “Risk Factors” in our annual report on Form
10-K for the year ended December 31, 2012 and our other filings with the
Securities and Exchange Commission. All forward-looking statements are based
on information that was available, and speak only, as of the date on which
they are made. We assume no obligation to update any forward-looking statement
made in this press release that becomes untrue because of subsequent events,
new information or otherwise, except to the extent required in connection with
ongoing requirements under U.S. securities laws.

Contact:

Kilroy Realty Corporation
Tyler H. Rose
Executive Vice President
and Chief Financial Officer
(310) 481-8484
or
Michelle Ngo
Senior Vice President
and Treasurer
(310) 481-8581
 
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