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Kilroy Realty Corporation Announces Second Quarter Dividend

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LOS ANGELES--(BUSINESS WIRE)--May 8, 2003--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 July 17, 2003 to shareholders of record on June 30, 2003. The dividend is equivalent to an annual rate of $1.98 per share.

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 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. At March 31, 2003, the company owned 7.1 million square feet of commercial office space and 4.9 million square feet of industrial space. More information can be found at www.kilroyrealty.com.

CONTACT:
Kilroy Realty Corporation
Tyler H. Rose, 310/481-8484

SOURCE: Kilroy Realty Corporation