Corporate Office Properties Trust Forms Group Targeting New Development Opportunities.

Business Editors

COLUMBIA, Md.--(BUSINESS WIRE)--May 8, 2001

Dwight S. Taylor named President of Corporate Office Services,

with headquarters in Columbia, MD

Corporate Office Properties Trust (NYSE:OFC) has announced the formation of Corporate Office Services, LLC (COS), a new entity that provides land planning, design/build services, consulting and merchant development to third-party companies located, both, in the mid-Atlantic region and nationally.

Dwight S. Taylor, 56, currently President of Corporate Development Services, LLC (CDS) has been named President of COS and will oversee day-to-day operations of both groups. Mr. Taylor has been with Corporate Office Properties and its predecessor companies since 1985.

Corporate Office Services targets a wide range of development and fee opportunities including the construction of business parks, office buildings, warehouse/distribution centers, retail projects and specialty facilities.

The group, which will be based in Columbia, MD, will also offer project consultation services for companies requiring development expertise, initially, in an area spanning from Northern New Jersey through Northern Virginia.

The development group will draw from the wealth of experience gained from construction activities completed by the Corporate Development Services team, which has developed projects valued in excess of $5 billion. In 2000, CDS completed construction of more than $59 million in new development, and presently has more than $95 million in construction activities underway.

"With Corporate Office Services, we will be able to leverage our development experience with the solid corporate relationships we have established," stated Randall M. Griffin, President and Chief Operating Officer for Corporate Office Properties. "The result is a highly motivated and knowledgeable team that can offer value-oriented solutions to most real estate projects. We will also have the ability to invest in these projects, if appropriate," he added.

Mr. Taylor has more than 26 years of real estate experience in the Baltimore-Washington, D.C. market. He earned a Bachelor of Arts degree in Economics from Lincoln University.

Company Information

Corporate Office Properties Trust is a fully-integrated, self-managed real estate investment trust, which focuses on the ownership, development, management and acquisition of suburban office properties located in targeted suburban submarkets in the United States.

The Company presently owns 89 office properties totaling 6.9 million square feet of space. 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 to third-party entities.

For more information, visit Corporate Office Properties' website at http://www.copt.com.

Forward-Looking Information

This press release contains forward-looking information based upon the Company's current best judgement 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.