KTR Keystone Prop Tr

Keystone Property Trust Announces Regular Quarterly Dividend for Second Quarter 2004 WEST CONSHOHOCKEN, Pa., July 6 /PRNewswire-FirstCall/ -- Keystone Property Trust (NYSE:KTR) today announced that its Board of Trustees has declared a dividend of $0.33 per common share payable on July 30, 2004, to shareholders of record as of July 16, 2004. This dividend represents an annualized rate of $1.32 per common share. The Board of Trustees has declared a dividend of $0.5703125 per share of Series D Cumulative Redeemable Preferred Stock (NYSE:KTRPrD) ("Series D") payable on July 30, 2004, to shareholders of record as of July 16, 2004. This dividend represents an annualized rate of $2.28125 per Series D preferred share. The Board of Trustees has also declared a dividend of $0.4609375 per share of Series E Cumulative Redeemable Preferred Stock (NYSE:KTRPrE) ("Series E") payable on July 30, 2004, to shareholders of record as of July 16, 2004. This dividend represents an annualized rate of $1.84375 per Series E preferred share. Keystone Property Trust, with headquarters in West Conshohocken, Pennsylvania, is a fully integrated real estate investment trust with a current portfolio of 143 properties, including properties under development, of over 34 million-square-feet in the Eastern United States. Keystone Property Trust has entered into a definitive merger agreement with Prologis and affiliates of investment funds managed by Eaton Vance Management. For more information, contact Jennifer Pancoast (484) 530-1800, send email to or visit the Company website at http://www.keystoneproperty.com/. DATASOURCE: Keystone Property Trust CONTACT: Jennifer Pancoast, Keystone Property Trust, +1-212-527-9900; or MEDIA: Michael Beckerman, Beckerman Public Relations, +1-908-781-6420, , for Keystone Property Trust Web site: http://www.keystoneproperty.com/

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