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Kilroy Realty Corporation Breaks Ground On Phase Ii Of The Prominently Located Westside Media Center

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Phase I Leased to Cable Industry Giant TCI

EL SEGUNDO, Calif.-- Kilroy Realty Corporation (NYSE: KRC) today announced ground breaking on Phase II of the Westside Media Center, one of the only new building projects currently under construction in Los Angeles. The project is prominently located on Olympic Boulevard between Bundy and Centinela at the gateway to the Santa Monica media district.

When completed, it will include three mid-rise, campus-style office buildings designed for a wide array of clients, including entertainment and technology companies.

"The Westside Media Center is a premiere facility that has been extremely well received in the marketplace," commented Hugh Greenup, executive vice president, KRC. "The project has been designed for highly technical users for the new millennium, including entertainment and communications users that typically want a more relaxed, people-oriented campus combined with state-of-the-art technological capabilities and tremendous flexibility."

Once completed, Phase II will consist of a 151,000 square-foot building over a 2.5-level subterranean parking garage that is surrounded by 1.5 acres of richly landscaped gardens, plazas and fountains.

The distinct design of the Westside Media Center’s sets it apart from other projects in the marketplace. The three-building, 380,000 square-foot complex projects a mix of urban and contemporary architectural styles that feature galvanized and perforated metal appliques and translucent glass. Lush landscaping is a central theme throughout the campus, providing tenants with a comfortable environment for business. Water features, large plazas with expansive gardens and on-site restaurants and retail services also add to the campus-style environment created within the Westside Media Center.

According to Mike Branigan, senior vice president of development, KRC, "Because of the unique design of the Westside Media Center, tenants can take advantage of the latest technological and architectural advances combined with large floorplates that aren’t readily available in other buildings within the submarket."

Phase I of the Westside Media Center involved the renovation of an existing 78,000 square-foot, two-story building that was pre-leased for ten-years to cable industry giant, TCI, for their National Digital Television Center (NDTC). The facility operates as an interactive, digital television studio and serves as a "one-stop shopping" site for production, post-production, origination and transmission. It also features a teleport for the uplink and downlink of satellite signals, as well as fiber optic cables direct to TCI’s metro Denver headquarters.

"The Westside Media Center introduces a fresh, new approach to office buildings in this area," said Andy Fishburn, senior vice president of leasing, KRC. "It combines innovative design with flexible floorplates, in an ideal location that is easily accessible to the freeway

Construction for Phase II is expected to be completed June 2000 with Phase III slated for completion a year later.

HKS Architects, Inc., a nationally renowned architectural firm, designed the glass, concrete and metal structure. HKS has designed major projects across the country, including Citicorp Regional Headquarters in Tampa, FL. and the American Express Financial Advisors in Minneapolis, MN. Major projects in California include the 1901 Van Ness Condominiums in San Francisco, CA, the Del Mar Gateway in San Diego, CA and the highly successful Kilroy Airport Center office complex located at the Long Beach Airport and the 405 Freeway. Pankow Builders will serve as the general contractor for the project. Hunt Barnett and Deron White of CB Richard Ellis, Inc. are exclusive leasing agents for the project.

Kilroy Realty Corporation is a Southern California-based real estate investment trust active in the commercial office and industrial property sectors. Principal submarkets for the company's development projects include Los Angeles, San Diego, Long Beach, and Orange County, where the company has a development pipeline exceeding $500 million. At March 31, 1999, the company owned 5.7 million square feet of commercial office space and 6.2 million square feet of industrial space.