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Kilroy Realty Announces Tax Treatment of 2009 Dividend Distributions

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LOS ANGELES, Jan 15, 2010 (BUSINESS WIRE) -- Kilroy Realty Corporation (NYSE: KRC) announced today the tax treatment of its 2009 dividend distributions. The company's total dividend distributions per share of common stock (CUSIP #49427F108) are to be classified for income tax purposes as follows:

Record
Date

Payable
Date

Total
Distribution
per Share

2009
Taxable
Ordinary
Dividend

2009

Total Capital
Gain
Distribution

2009
Unrecaptured
Section 1250
Gain (1)

2009
Return of
Capital

12/31/08 1/16/09 $ .580000 $ .131307 $ .006436 $ .002453 $ .442257
3/31/09 4/17/09 .580000 .131307 .006436 .002453 .442257
6/30/09 7/17/09 .350000 .079237 .003884 .001480 .266879
9/30/09 10/16/09 .350000 .079237 .003884 .001480 .266879

(1) Unrecaptured Section 1250 Gain is a subset of, and is included in, the Total Capital Gain Distribution amount.

The dividend distributions being made to holders of record as of December 31, 2009 and being paid on January 15, 2010 are considered 2010 dividend distributions for federal income tax purposes.

The company's total dividend distributions per share of Series E cumulative redeemable perpetual preferred stock (CUSIP #49427F405) are to be classified for income tax purposes as follows:

Record
Date

Payable
Date

Total
Distribution
per Share

2009
Taxable
Ordinary
Dividend

2009

Total Capital
Gain
Distribution

2009
Unrecaptured
Section 1250
Gain (1)

2009
Return of
Capital

1/30/2009 2/16/2009 $ .487500 $ .459309 $ .028191 $ .010747 -
4/30/2009 5/15/2009 .487500 .459309 .028191 .010747 -
7/31/2009 8/17/2009 .487500 .459309 .028191 .010747 -
10/30/2009 11/16/2009 .487500 .459309 .028191 .010747 -

(1) Unrecaptured Section 1250 Gain is a subset of, and is included in, the Total Capital Gain Distribution amount.

The company's total dividend distributions per share of Series F cumulative redeemable perpetual preferred stock (CUSIP #49427F504) are to be classified for income tax purposes as follows:

Record
Date

Payable
Date

Total
Distribution
per Share

2009
Taxable
Ordinary
Dividend

2009

Total Capital
Gain
Distribution

2009
Unrecaptured
Section 1250
Gain (1)

2009
Return of
Capital

1/30/2009 2/16/2009 $ .468750 $ .441643 $ .027107 $ .010333 -

4/30/2009

5/15/2009 .468750 .441643 .027107 .010333 -
7/31/2009 8/17/2009 .468750 .441643 .027107 .010333 -
10/30/2009 11/16/2009 .468750 .441643 .027107 .010333 -

(1) Unrecaptured Section 1250 Gain is a subset of, and is included in, the Total Capital Gain Distribution amount.

Stockholders are encouraged to consult with their tax advisors as to their specific tax treatment for Kilroy Realty Corporation common and preferred distributions.

Kilroy Realty Corporation, a member of the S&P Small Cap 600 Index, is a Southern California-based real estate investment trust active in the office and industrial property sectors. For over 60 years, the company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of Los Angeles, Orange and San Diego counties. At September 30, 2009, the company owned 8.66 million rentable square feet of commercial office space and 3.65 million rentable square feet of industrial space. More information is available at www.kilroyrealty.com.

SOURCE: Kilroy Realty Corporation

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