Duke Realty Corporation Redeems Series M Preferred Shares in Alignment With Capital Strategy

INDIANAPOLIS, IN--(Marketwire - Feb 2, 2012) - Duke Realty Corporation (NYSE: DRE), a leading industrial, office and medical office REIT, announced today that it has called for redemption all of its 673,090 outstanding 6.95% Series M Cumulative Redeemable Preferred Shares, par value $.01 per share, and all of the 6,730,900 Depositary Shares representing such Series M Preferred Shares (NYSE: DREPRM) (CUSIP No.: 264411729). The redemption date is March 5, 2012. The cash redemption price for the Series M Preferred Shares is $250.00 per share, which is equivalent to a cash redemption price of $25.00 per Series M Depositary Share.

Holders of the Series M Depositary Shares will receive $0.313715 in accrued dividends, for an aggregate redemption price of $25.313715 per Series M Depositary Share. Dividends on the Series M Preferred Shares represented by the Series M Depositary Shares will cease to accrue after the redemption date, and holders will have no rights other than the right to receive the redemption price, without interest, upon surrender of their shares.

The Notice of Redemption and related materials will be mailed to holders of Duke's Series M Depositary Shares representing the Series M Preferred Shares on February 2, 2012. As specified in the Notice of Redemption, payment of the redemption price will be made only upon presentation and surrender of the Series M Depositary Shares representing the Series M Preferred Shares to Duke Realty Corporation's transfer agent, American Stock Transfer and Trust Company, LLC, the redemption agent, by registered or certified mail, properly insured, or hand delivery during normal business hours at 6201 15^th Avenue, Brooklyn, New York 11219. Questions relating to the Notice of Redemption and related materials should be directed to American Stock Transfer and Trust Company, telephone number 800/937-5449.

About Duke Realty Corporation

Duke Realty Corporation owns and operates more than 136 million rentable square feet of industrial and office space in 18 U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke is available at www.dukerealty.com.