Duke Realty Corporation (NYSE: DRE) Announces the Income Tax Characteristics of Its 2009 Common and Preferred Share Dividends


INDIANAPOLIS, IN--(Marketwire - January 21, 2010) - Duke Realty Corporation (NYSE: DRE) announces the income tax characteristics of its 2009 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 2009
                           Distribution   Total Ordinary     Qualified
Payment Date                 Per Share       Dividends       Dividends
                          ==============  ==============  ===============

Form 1099-DIV Box Number
                                                1a               1b
                          ==============  ==============  ===============
2/27/09                          .250000         .172595          .000000
                          ==============  ==============  ===============
5/29/09                          .170000         .117364          .000000
                          ==============  ==============  ===============
8/31/09                          .170000         .117364          .000000
                          ==============  ==============  ===============
11/30/09                         .170000         .117364          .000000
                          ==============  ==============  ===============
2009 Totals                      .760000         .524687          .000000
                          ==============  ==============  ===============
Percentage                      100.0000%        69.0378%
                          ==============  ==============  ===============


                           Total Capital    Unrecaptured
                               Gain         Section 1250    Nondividend
 Payment Date               Distribution      Gain (1)     Distributions
                          ==============  =============== ==============

Form 1099-DIV Box Number        2a               2b              3
                          ==============  =============== ==============
2/27/09                          .011554          .011554        .065851
                          ==============  =============== ==============
5/29/09                          .007857          .007857        .044779
                          ==============  =============== ==============
8/31/09                          .007857          .007857        .044779
                          ==============  =============== ==============
11/30/09                         .007857          .007857        .044779
                          ==============  =============== ==============
2009 Totals                      .035125          .035125        .200188
                          ==============  =============== ==============
Percentage                        4.6217%                        26.3405%
                          ==============  =============== ==============


(1) 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:
                                                    Total 2009     Total
                              Ticker               Distribution  Ordinary
Security                      Symbol      CUSIP #   Per Share   Dividends
                            =========== =========== ==========  ==========
Form 1099-DIV Box Number                                            1a
                            =========== =========== ==========  ==========
Preferred                        DREPRJ   264411778 $ 1.656252    1.552332
Series J                                              100.0000%    93.7256%
                            =========== =========== ==========  ==========
Preferred                        DREPRK   264411760 $ 1.625000    1.523040
Series K                                              100.0000%    93.7256%
                            =========== =========== ==========  ==========
Preferred                        DREPRL   264411745 $ 1.650000    1.546472
Series L                                              100.0000%    93.7256%
                            =========== =========== ==========  ==========
Preferred                        DREPRM   264411729 $ 1.737500    1.628484
Series M                                              100.0000%    93.7256%
                            =========== =========== ==========  ==========
Preferred                        DREPRN   264411695 $ 1.812500    1.698776
Series N                                              100.0000%    93.7256%
                            =========== =========== ==========  ==========
Preferred                        DREPRO   264411679 $ 2.093752    1.962384
Series O                                               100.000%    93.7256%
                            =========== =========== ==========  ==========


                                          Total     Unrecaptured
                            Qualified  Capital Gain Section 1250
Security                    Dividends  Distribution   Gain (1)
                            =========== ==========  ===========
Form 1099-DIV Box Number         1b         2a           2b
                            =========== ==========  ===========
Preferred                       .000000    .103920
Series J                                    6.2744%     .103920
                            =========== ==========  ===========
Preferred                       .000000    .101960
Series K                                    6.2744%     .101960
                            =========== ==========  ===========
Preferred                       .000000    .103528
Series L                                    6.2744%     .103528
                            =========== ==========  ===========
Preferred                       .000000    .109016
Series M                                    6.2744%     .109016
                            =========== ==========  ===========
Preferred                       .000000    .113724
Series N                                    6.2744%     .113724
                            =========== ==========  ===========
Preferred                       .000000    .131368
Series O                                    6.2744%     .131368
                            =========== ==========  ===========

(1) 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 1.0323% of total dividend distributions. The company did not incur any foreign taxes in 2009. 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 owns and operates approximately 136 million rentable square feet of industrial and office space in 20 US cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on S&P MidCap 400 Index. More information about Duke is available at www.dukerealty.com.

Contact Information: Investor Relations Contact: Randy A. Henry (317) 808-6060 Tax Contact: Tracy D. Swearingen (317) 808-6133