Duke Realty Announces Fourth Quarter Investment Activity

New Investments Total $377 Million

| Source: Duke Realty Corporation Duke Realty Corporation

INDIANAPOLIS, IN--(Marketwire - January 24, 2008) - Duke Realty Corporation (NYSE: DRE) announced today $377.2 million of new developments and acquisitions for the fourth quarter of 2007. The Company also announced $209.3 million of fourth quarter dispositions.

The Company's new developments for the quarter include $196.9 million of developments for its held-for-rental portfolio with an average stabilized yield of 8.8 percent and $110.5 million of developments for its held-for-sale portfolio with an average stabilized yield of 7.6 percent. Duke also announced an acquisition of an industrial portfolio totaling $69.8 million with an average stabilized yield of 8.6 percent.

"New development starts were again solid in the fourth quarter at $307 million. I am pleased to report that these starts are 74% pre-leased at construction commencement. We also expanded on our strategy of owning distribution facilities at port locations with our acquisition in Norfolk, Tacoma and Houston of 750,000 square feet of 100% leased properties," said Denny Oklak, Chairman and Chief Executive Officer.

The newly acquired industrial portfolio includes: 

--  In Norfolk, Virginia, three industrial buildings totaling 466,000
    square feet located near the Port of Virginia that are 100 percent leased;
    
--  In Sumner, Washington, one industrial building totaling 120,000 square
    feet located near the Port of Tacoma that is 100% leased; and
    
--  In Baytown, Texas, one industrial building totaling 172,000 square
    feet located near the Port of Houston that is 100% leased.

The new held-for-rental developments for the fourth quarter include: 

--  In Tampa, Florida, a 136,000 square foot industrial project that is
    100% pre-leased located in Duke's Fairfield Distribution Center business
    park;
    
--  In Houston, Texas, a 158,000 square foot industrial project located in
    the Company's Point North Cargo industrial park;
    
--  In Atlanta, Georgia, a 213,000 square foot industrial project located
    in Duke's Camp Creek Business Center industrial park;
    
--  In Raleigh, North Carolina, a 303,000 square foot suburban office
    project that is 33 percent pre-leased.  The project will include ground
    floor retail and will be developed within a 50/50 joint venture with a
    local Raleigh area partner;
    
--  In suburban Chicago, Illinois, a 140,000 square foot suburban office
    project located in the Rosemont submarket;
    
--  In Tampa, Florida, a 130,000 square foot suburban office project
    located in Duke's Highland Oaks office park;
    
--  In Nashville, Tennessee, a 47,000 square foot suburban office project
    located in Duke's Aspen Grove Business Center; and
    
--  In Mishawaka, Indiana, a 195,000 square foot medical office project
    for Saint Joseph's Regional Medical Center that is 75 percent leased.

The new held-for-sale developments for the fourth quarter include: 

--  In Dallas, Texas, a 822,000 square foot industrial project that is
    100% leased to Unilever;
    
--  In Jacksonville, Florida, a 772,000 square foot industrial project
    that is also 100% leased to Unilever;
    
--  In Indianapolis, Indiana, a 554,000 square foot expansion onto an
    existing 646,000 square foot industrial project located in the All Points
    Midwest business park that is 100% leased to Prime Distribution Services;
    and
    
--  In Orlando, Florida, a 101,000 square foot suburban office project
    that is 100% leased to Disney and located in Duke's Celebration office
    park.

Duke's $209.3 million of fourth quarter dispositions included $36.6 million of dispositions from its held-for-rental portfolio at an average stabilized capitalization rate of 7.5 percent. The remaining $172.7 million of dispositions are from its held-for-sale portfolio at an average stabilized capitalization rate of 7.1 percent.

Fourth quarter held-for-rental dispositions include: 

--  A 360,000 square foot industrial portfolio comprised of 7 flex
    properties within Duke's Dugan Realty joint venture in Indianapolis;
    
--  A 177,000 square foot industrial property in Atlanta that was within
    Duke's Dugan Realty joint venture;
    
--  A 90,000 square foot suburban office property in Raleigh; and
    
--  A 71,000 square foot industrial property in Nashville.

Fourth quarter held-for-sale dispositions include: 

--  A 651,000 square foot industrial property in Chicago;
    
--  A 515,000 square foot industrial property in West Branch, Iowa;
    
--  A 199,000 square foot suburban office property in Columbus, Ohio;
    
--  A 137,000 square foot suburban office property in Chicago;
    
--  Also in Chicago, a 40,000 square foot suburban office property;
    
--  A 112,000 square foot medical office property in St. Louis; and
    
--  A 121,000 square foot retail project in Indianapolis.

About Duke Realty Corporation

Duke Realty Corporation specializes in the ownership, construction, development, leasing and management of office, industrial, medical office and retail real estate. It is the largest publicly traded, vertically integrated office/industrial real estate company in the United States. The company owns, manages or has under development more than 129 million rentable square feet in 22 major U.S. cities. Duke, which controls more than 7,600 acres of land for over 112 million square feet of future development, also provides nationwide real estate solutions through its national development division. More information about Duke is available on the Internet: www.dukerealty.com

Contact Information: Investor Relations Contacts: Shona L. Bedwell 317.808.6169 Randy A. Henry 317.808.6060 News Media Contact: Joel Reuter 317.808.6137

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