SOURCE: Duke Realty Corporation

Duke Realty Corporation

June 17, 2011 16:25 ET

Duke Realty Corporation Redeems Series N Preferred Shares

INDIANAPOLIS, IN--(Marketwire - Jun 17, 2011) - Duke Realty Corporation (NYSE: DRE), a leading industrial and office property REIT, announced today that it has called for redemption all of its 434,520 outstanding 7.25% Series N Cumulative Redeemable Preferred Shares, par value $.01 per share, and all of the 4,345,200 Depositary Shares representing such Series N Preferred Shares (NYSE: DREPRN) (CUSIP No.: 264411695). The redemption date is July 18, 2011. The cash redemption price for the Series N Preferred Shares is $250.00 per share, which is equivalent to a cash redemption price of $25.00 per Series N Depositary Share.

Holders of the Series N Depositary Shares will receive $0.090625 in accrued dividends, for an aggregate redemption price of $25.090625 per Series N Depositary Share. Dividends on the Series N Preferred Shares represented by the Series N 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 N Depositary Shares representing the Series N Preferred Shares on June 17, 2011. As specified in the Notice of Redemption, payment of the redemption price will be made only upon presentation and surrender of the Series N Depositary Shares representing the Series N 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 15th 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 135 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.

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