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Kilroy Realty Corporation Signs 96,200 Square Foot Lease in San Diego

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LOS ANGELES, May 20, 2003 (BUSINESS WIRE) -- Kilroy Realty Corporation (NYSE:KRC) announced today that it has made additional leasing progress on two San Diego office buildings that were previously leased to Brobeck, Phleger & Harrison LLP.

KRC executed a 15-year lease with the law firm of Fish & Richardson P.C. for all of a 72,332 square foot building located at 12390 El Camino Real and one floor, or 23,886 square feet, of a 89,168 square foot building at 12340 El Camino Real, both in the Del Mar submarket of San Diego. The two building, 161,500 square foot project is now approximately 60% leased.

The lease is expected to commence in the fourth quarter following the relocation from 12390 El Camino Real of the current tenant, Paul, Hastings, Janofsky & Walker LLP to another KRC building formerly leased to Peregrine Systems, Inc.

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. The principal submarkets for KRC's current development program are located in 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.

SOURCE: Kilroy Realty Corporation

Kilroy Realty Corporation, Los Angeles
Richard E. Moran Jr., 310/481-8483
Tyler H. Rose, 310/481-8484

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