Corporate Office Properties Trust Announces Exercise of Over-Allotment and Issuance of 1,261,000 Additional Common Shares.Business Editors COLUMBIA, Md.--(BUSINESS WIRE)--March 5, 2002 Corporate Office Properties Trust Corporate Office Properties Trust Inc. (COPT) (NYSE: OFC) is a publicly-traded real estate investment trust (REIT) corporation that specializes in office development, and describes itself as "a fully integrated, self-managed real estate investment trust that focuses on the (NYSE NYSE See: New York Stock Exchange :OFC OFC Office OFC Officer OFC Of Course OFC Oxygen Free Copper OFC Oceania Football Confederation (soccer) OFC Optical Fiber Cable OFC Optical Fiber Communications OFC Optical Fiber Conference ) announced today that its underwriters have exercised in full their over-allotment option to purchase an additional 1,261,000 common shares of beneficial interest, in connection with the Company's current offering of 9,700,000 common shares scheduled to close today. The offering consists of 823,828 common shares to be sold by the Company and 8,876,172 common shares to be sold by its largest shareholder, Constellation Constellation, ship Constellation (kŏnstĭlā`shən), U.S. frigate, launched in 1797. It was named by President Washington for the constellation of 15 stars in the U.S. flag of that time. Real Estate, Inc. ("Constellation"), representing their entire ownership position in the Company. Including the over-allotment option, total gross proceeds to the Company from this offering are $25.1 million. Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. acted as sole bookrunner and as a joint lead manager. A.G. Edwards & Sons, Inc., Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker, Incorporated and McDonald Investments Inc. also served as joint lead managers. In addition, BB&T Capital Markets, Ferris, Baker Watts, Incorporated and Janney Montgomery Scott LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control served as co-managers for this transaction. Company Information Corporate Office Properties Trust is a fully integrated, self-managed real estate investment trust which focuses on the ownership, management, leasing, acquisition and development of suburban office properties located in select Mid-Atlantic submarkets. The Company currently owns 97 office properties totaling 7.8 million rentable square feet. Corporate Development Services, the Company's development company, provides a wide range of development and construction management services. In addition, Corporate Office Services provides land planning, design/build services, consulting and merchant development for third party entities. The Company's shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol OFC. More information on Corporate Office Properties Trust can be found on the Internet at www.copt.com. Forward-Looking Information This press release contains forward-looking information based upon the Company's current best judgment and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with the forward-looking information include the strength of the commercial office real estate market in which the Company operates, competitive market conditions, general economic growth, interest rates and capital market conditions. For further information, please refer to the Company's filings with the Securities and Exchange Commission. |
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