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Kilroy Realty Corp. Announces Fourth-Quarter Dividend

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LOS ANGELES, Dec 11, 2001 (BUSINESS WIRE) -- Dec. 11, 2001 - Kilroy Realty Corp. (NYSE:KRC) today announced that its board of directors has declared a regular quarterly cash dividend of $0.48 per common share payable on Jan. 17, 2002, to shareholders of record on Dec. 28, 2001. The dividend is equivalent to an annual rate of $1.92 per share.

Kilroy Realty Corp. is a Southern California-based real estate investment trust active in the office and industrial property sectors. For more than 50 years, the company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of California and Washington.

Principal submarkets for KRC's current development program include Calabasas, West Los Angeles, El Segundo and coastal San Diego, where the company's total development pipeline is more than $500 million. At Sept. 30, 2001, the company owned 7.1 million square feet of commercial office space and 5.2 million square feet of industrial space.

More information on Kilroy Realty can be found at www.kilroyrealty.com.

CONTACT:          Kilroy Realty Corp.
                  Tyler H. Rose, 310/563-5531

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