Duke Realty Corporation (NYSE: DRE) Announces the Income Tax Characteristics of Its 2007 Common and Preferred Share Dividends


INDIANAPOLIS, IN--(Marketwire - January 17, 2008) - Duke Realty Corporation (NYSE: DRE) (Duke) announced the income tax characteristics of its 2007 common and preferred share dividends. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Duke Realty Corporation's dividends.

Common Share Dividends:
Ticker Symbol DRE, CUSIP # 264411505


                Total               Qualified  Total  Unrecaptured  Non-
                 2007      Taxable  Dividend  Capital   Section   Taxable
              Distribution Ordinary  Income    Gain       1250   Return of
Payment Date   Per Share  Dividend    (1)   Distribution Gain(2)   Capital
------------- ----------- --------- -------- ----------- -------- --------

Form 1099-DIV
 Box Number                  1a        1b        2a        2b         3

2/28/07          .475000   .299591    .016498   .175409   .071503  .000000

5/31/07          .475000   .299591    .016498   .175409   .071503  .000000

8/31/07          .480000   .302745    .016671   .177255   .072256  .000000

11/30/07         .480000   .302745    .016671   .177255   .072256  .000000
               --------- ---------  --------- --------- --------- --------

2007 Totals     1.910000  1.204672    .066338   .705328   .287518  .000000
               ========= =========  ========= ========= ========= ========

Percentage      100.0000%  63.0718%             36.9282%            0.0000%
               ========= =========  ========= ========= ========= ========

(1) Qualified Dividend Income is a subset of, and is included in, the
    Total Ordinary Income amount reported in box 1a of Form 1099-DIV.
(2) Unrecaptured Sec. 1250 Gain is a subset of, and is included in, the
    Total Capital Gain Distribution amount reported in box 2a of Form
    1099-DIV.

Preferred Share Dividends:

                                                               Unrecaptured
                                                 Qualified Total  Section
                           Total 2007   Taxable  Dividend Capital    1250
          Ticker          Distribution  Ordinary  Income   Gain      Gain
Security  Symbol  CUSIP #   Per Share   Dividend   (1)  Distribution  (2)
--------- ------ --------- ----------- --------- ------- --------- --------
Form 1099-
DIV Box                                    1a       1b       2a        2b
Number

Preferred  Not   264411885  $3.007350  1.896789  .104451  1.110561  .452705
Series B  Listed             100.0000%  63.0718%           36.9282%

Preferred DREPRJ 264411778  $1.656252  1.044628  .057525   .611624  .249320
Series J                     100.0000%  63.0718%           36.9282%

Preferred DREPRK 264411760  $1.625000  1.024917  .056439   .600083  .244616
Series K                     100.0000%  63.0718%           36.9282%


Preferred DREPRL 264411745  $1.650000  1.040685  .057308   .609315  .248379
Series L                     100.0000%  63.0718%           36.9282%


Preferred DREPRM 264411729  $1.737500  1.095872  .060347   .641628  .261551
Series M                     100.0000%  63.0718%           36.9282%

Preferred DREPRN 264411695  $1.812500  1.143176  .062951   .669324  .272841
Series N                     100.0000%  63.0718%           36.9282%


(1) Qualified Dividend Income is a subset of, and is included in, the
    Total Ordinary Income amount reported in box 1a of Form 1099-DIV.
(2) Unrecaptured Sec. 1250 Gain is a subset of, and is included in, the
    Total Capital Gain Distribution amount reported in box 2a of Form
    1099-DIV.

For corporate shareholders, the Section 291(a) preference item is 3.0582% of total dividend distributions. The company did not incur any foreign taxes in 2007. For purposes of satisfying U.S. federal income tax withholding obligations under Section 1.1445-8 of the federal income tax regulations with respect to payments to foreign shareholders, Duke Realty Corporation characterizes the unrecaptured Section 1250 gain and long-term capital gain portions of the dividends described above as capital gain dividends.

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 20 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. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and was recently added to the S&P MidCap 400 Index.

Contact Information: Investor Relations Contact: Shona L. Bedwell 317.808.6169 Tax Contact: Tracy D. Swearingen 317.808.6133