SOURCE: Brandywine Realty Trust

July 09, 2008 13:35 ET

Brandywine Announces Accounting Change

RADNOR, PA--(Marketwire - July 9, 2008) - Brandywine Realty Trust (NYSE: BDN) announced today that Darryl Dunn, its Vice President, Treasurer and Chief Accounting Officer, has decided to leave Brandywine to pursue other opportunities, effective July 11, 2008. Gabe Mainardi, Vice President of Corporate Accounting and our Corporate Controller, will assume full responsibility for our corporate accounting function, reporting to Howard Sipzner, Executive Vice President and Chief Financial Officer. The Chief Accounting Officer position will not be filled at this time.

"This change enhances the efficiency of our financial reporting infrastructure," stated Howard Sipzner, Executive Vice President and Chief Financial Officer of Brandywine Realty Trust, "and demonstrates the depth and experience of our accounting team. We remain well-positioned to deliver best-in-class accounting compliance and financial reporting to our stakeholders. I would also like to take this opportunity to thank Darryl Dunn for his contributions to Brandywine and to wish him well in his future endeavors."

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States. Organized as a real estate investment trust and operating in select markets, Brandywine owns, develops and manages a primarily Class A, suburban and urban office portfolio aggregating approximately 40 million square feet, including 29 million square feet which it owns on a consolidated basis. For more information, visit our website at

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company and its affiliates or industry results to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors relate to, among others, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions. Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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