Boston Properties Declares Quarterly Dividend

BOSTON, Dec. 18 /PRNewswire/ — Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, today declared a dividend of $0.58 per share of common stock for the period October 1, 2001 to December 31, 2001, payable on January 29, 2002 to shareholders of record on December 28, 2001.
Boston Properties also declared a dividend of $0.78699 per share of Series A Convertible Redeemable Preferred Stock. The dividend is payable on February 15, 2002 to shareholders of record on December 28, 2001.
Boston Properties has instituted a Dividend Reinvestment and Stock Purchase Plan (Plan). Shares to be purchased by Plan participants will either be shares newly issued by Boston Properties or shares purchased by the Plan's independent administrator from third parties. Boston Properties will make available information regarding which method will be used this quarter to obtain common stock for the Plan not later than January 18, 2001. All Plan participants may access current information regarding the source of the common stock by calling to listen to the pre-recorded message at 617-236-3680, and full details of the Plan are contained in the Plan prospectus.
Boston Properties is a fully integrated, self-administered and self- managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class A office, industrial and hotel properties. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in four core markets — Boston, Midtown Manhattan, Washington, DC and San Francisco.
Visit the Company's web site at http://www.bostonproperties.com . Also see http://www.frbinc.com .

This press release contains forward-looking statements within the meaning of the Federal securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Boston Properties' control and could materially affect actual results, performance or achievements. These factors include, without limitation, the ability to enter into new leases or renew leases on favorable terms, dependence on tenants' financial condition, the uncertainties of real estate development and acquisition activity, the ability to effectively integrate acquisitions, the costs and availability of financing, the effects of local economic and market conditions, regulatory changes and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.