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Kilroy Realty Increases Common Dividend 4.7%

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LOS ANGELES--(BUSINESS WIRE)--March 1, 2007--Kilroy Realty Corporation (NYSE: KRC) announced today that its board of directors declared a regular quarterly cash dividend of $0.555 per common share payable on April 18, 2007 to stockholders of record on March 30, 2007. The dividend is equivalent to an annual rate of $2.22 per share and is a 4.7% increase from the previous annualized dividend level of $2.12.

The board of directors also declared a dividend of $0.4875 per share on the company's 7.80% Series E Cumulative Redeemable Preferred Stock for the period commencing on and including February 15, 2007 and ending on and including May 14, 2007. The dividend will be payable on May 15, 2007 to Series E preferred stockholders of record on April 30, 2007.

The board of directors also declared a dividend of $0.46875 per share on the company's 7.50% Series F Cumulative Redeemable Preferred Stock for the period commencing on and including February 15, 2007 and ending on and including May 14, 2007. The dividend will be payable on May 15, 2007 to Series F preferred stockholders of record on April 30, 2007.

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 60 years, the company has owned, developed, acquired and managed real estate assets primarily in the coastal regions of California and Washington. Kilroy Realty currently has an in-process development and redevelopment pipeline of approximately 1.2 million square feet in Los Angeles and San Diego counties. At December 31, 2006, the company owned 7.8 million rentable square feet of commercial office space and 3.9 million rentable square feet of industrial space. More information is available at www.kilroyrealty.com.

CONTACT: Kilroy Realty Corporation
Tyler H. Rose, Senior Vice President and Treasurer
310-481-8484
SOURCE: Kilroy Realty Corporation