N@N

First Potomac Realty Trust Declares Fourth Quarter Dividend and Announces Annual Meeting Date

_{//business-finance.news-articles.net/content/200 .. -dividend-and-announces-annual-meeting-date.html}
^{Published in Business and Finance on Thursday, January 22nd 2009 at 14:26 GMT, Last Modified on 2009-01-22 14:27:07 by Market Wire}  

BETHESDA, Md.--([ BUSINESS WIRE ])--First Potomac Realty Trust (NYSE:FPO), a regional leader in the ownership, development and management of business parks and industrial properties, today announced that its Board of Trustees has declared a dividend of $0.34 per common share for the Company's fourth quarter ended December 31, 2008. The dividend, which equates to an annualized dividend of $1.36 per share, is payable on February 13, 2009, to common shareholders of record on February 6, 2009.

Douglas J. Donatelli, Chairman and Chief Executive Officer of First Potomac, noted, "The Board's decision to maintain our dividend rate reflects our leasing success, the relative health of our markets, our minimal debt maturities over the next two years and our 2009 taxable income projection, which anticipates continued gains from financing and property transactions designed to enhance our balance sheet flexibility."

The Company's dividend in 2008 consisted of no return of capital as it was effectively equal to its taxable income.

Annual Shareholder Meeting Date

The Company also announced that its 2009 annual meeting of shareholders will take place at 11:00 am ET on May 21, 2009, at the Company's corporate headquarters in Bethesda, Maryland.

About First Potomac Realty Trust

First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, developing, redeveloping and operating industrial properties and business parks in the Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. The Company's portfolio totals approximately 12 million square feet. The Company's largest tenant is the U.S. Government, which accounts for more than 6% of annualized rent. For more information, please visit us at [ www.first-potomac.com ].

Forward Looking Statements

The forward-looking statements contained in this press release are subject to various risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that its expectations will be achieved. Certain factors that could cause actual results to differ materially from the Company's expectations include changes in general or regional economic conditions; the Company's ability to timely lease or re-lease space at current or anticipated rents; changes in interest rates; changes in operating costs; the Company's ability to complete acquisitions on acceptable terms; and other risks detailed in the Company's Annual Report on Form 10-K and described from time to time in the Company's filings with the SEC. Many of these factors are beyond the Company's ability to control or predict. Forward-looking statements are not guarantees of performance. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.