Duke Acquires Five Million Square Foot Industrial Portfolio at the Port of Savannah; Leadership of Houston and Phoenix Expansions Also Announced.

INDIANAPOLIS -- Duke Realty Corporation (NYSE:DRE) has acquired the majority of 5.1 million square feet of bulk industrial properties located at the Port of Savannah. The Company plans to close on the remaining properties in the near future, for a total purchase price of approximately $194.5 million. This portfolio consists of 18 buildings and is located near one of the fastest growing ports in the country. In addition, Duke has the option to acquire future completed development projects on 400 acres of land in the same market or any remaining undeveloped land through 2012.

The average building size in this portfolio is 285,000 square feet with an average age of 3.5 years. Additionally, the properties are currently 100 percent leased and have a weighted average lease term of 7.5 years. This transaction makes Duke the largest industrial property owner in the Savannah area and complements the Company's industrial holdings across the Southeast, offering customers logistics solutions from the port of entry to regional and national distribution centers.

The Company also announced the appointment of Kevin Rogus to Regional Executive Vice President, Phoenix Region. Kevin has been with Duke for 20 years, most recently serving as Senior Vice President of Duke's Cincinnati operations, and will open Duke's new regional office in Phoenix, Arizona. In addition, David Hudson is joining the Company as Vice President, Development/Leasing and will lead Duke's new efforts in Houston, Texas. A 13-year real estate development veteran, David joins Duke from Trammell Crow Company.

Denny Oklak, Duke's Chairman and Chief Executive Officer, stated, "Today we announced great strides in executing our plan to expand our geographic platform to other areas of the United States. We are very excited about the new opportunities that the Port of Savannah transaction brings us. This portfolio provides the Company with a strong foundation to build upon as the Port continues to grow. Likewise, we are pleased to announce the leadership of our Houston and Phoenix offices and we are quite confident that Kevin and David will successfully lead Duke in these market initiatives."

About Duke Realty Corporation

As one of the most vertically-integrated real estate companies in the U.S., Duke Realty Corporation specializes in the ownership, construction, development, leasing and management of office and industrial real estate. Duke's properties encompass approximately 103 million rentable square feet leased by approximately 3,500 tenants and approximately 4,500 acres of undeveloped land that can support approximately 64 million square feet of future development. In addition to its office and industrial focus in the Midwest, Southwest and Southeast United States, Duke selectively pursues medical office and retail development opportunities, as well as nationwide opportunities through its National Development and Construction Group. Visit Duke on the web at www.dukerealty.com.