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Kilroy Realty Corporation Declares Fourth Quarter Dividend

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LOS ANGELES, Dec. 9 /PRNewswire/ -- Kilroy Realty Corporation (NYSE: KRC) announced today that its board of directors has declared a regular quarterly cash dividend of $0.42 per common share payable on January 10, 2000 to shareholders of record on December 31, 1999. The dividend is equivalent to an annual rate of $1.68 per share.

Kilroy Realty Corporation is a Southern California-based real estate investment trust active in the commercial office and industrial property sectors. The company has a 50-year history of owning, developing, acquiring and managing real estate assets in the coastal regions of California and Washington. Principal submarkets for the company's current development projects include Los Angeles, San Diego, Long Beach and Orange County, where the company's total development program exceeds $480 million. At September 30, 1999, the company owned 6.2 million square feet of commercial office space and 6.4 million square feet of industrial space. More information on Kilroy Realty can be found at www.kilroyrealty.com.

SOURCE Kilroy Realty Corporation

CONTACT: Tyler H. Rose, Senior Vice President and Treasurer of Kilroy Realty Corporation, 310-563-5531/