SOURCE: Franklin Street Properties Corp.

September 10, 2007 11:17 ET

Franklin Street Properties Corp. Announces Expansion and Extension of Stock Repurchase Program

WAKEFIELD, MA--(Marketwire - September 10, 2007) - Franklin Street Properties Corp. (the "Company" or "FSP") (AMEX: FSP), an investment firm specializing in real estate, announced today that its Board of Directors has authorized certain modifications to its common stock repurchase program previously announced on October 28, 2005. Specifically, the Board of Directors increased the amount of common stock that the Company is authorized to repurchase from time to time in the open market or in privately negotiated transactions from $35 million to $50 million (inclusive of all repurchases made pursuant to the original 2005 program). In addition, the Board of Directors extended the termination date of the program from November 1, 2007 to November 1, 2009.

The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company's stock plans and for other corporate purposes.

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on achieving current income and long-term growth through investments in commercial properties. FSP operates in two business segments: real estate operations and investment banking/investment services. FSP owns an unleveraged portfolio of real estate. The majority of FSP's property portfolio is suburban office buildings, with select investments in certain central business district properties. FSP's subsidiary, FSP Investments LLC (member, FINRA and SIPC), is a real estate investment banking firm and a registered broker/dealer. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at

Forward-Looking Statements

Statements in this press release regarding potential repurchases by FSP of shares of its common stock from time to time under its stock repurchase program are forward-looking statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, the market price of FSP's stock prevailing from time to time, the nature of other investment opportunities presented to FSP from time to time, FSP's cash flows from operations, general economic conditions, and other factors identified under the heading "Risk Factors" in FSP's Annual Report on Form 10-K for the year ended December 31, 2006.

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