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Kilroy Realty Corporation Increases Quarterly Dividend 3.1%

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LOS ANGELES, Feb 14, 2002 (BUSINESS WIRE) -- Kilroy Realty Corporation (NYSE:KRC) announced today that its board of directors has declared a regular quarterly cash dividend of $0.495 per common share payable on April 17, 2002 to shareholders of record on March 29, 2002. The dividend is equivalent to an annual rate of $1.98 per share and is a 3.1% increase from the previous annualized dividend level of $1.92.

Kilroy Realty Corporation is a Southern California-based real estate investment trust active in the office and industrial property sectors. The company is a member of the S&P Small Cap 600 Index. 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 West Los Angeles, El Segundo and coastal San Diego, where the company's total development pipeline is more than $500 million. At December 31, 2001, the company owned 7.2 million square feet of commercial office space and 5.1 million square feet of industrial space. More information on Kilroy Realty can be found at www.kilroyrealty.com.

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

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