Duke Realty Announces Acquisition of O'Hare Office Portfolio; Acquisition Bolsters Duke's Presence in Chicago Office Market.

INDIANAPOLIS -- Duke Realty Corporation (NYSE:DRE) announced today that it has completed the acquisition of a 1.4 million square foot suburban office portfolio in Rosemont, Illinois for $257 million. The acquisition consists of three buildings totaling 877,000 square feet at Riverway and two buildings totaling 517,000 square feet at O'Hare International Center. These properties are uniquely located along Interstate 90, with excellent access to O'Hare International Airport, downtown Chicago and the entire Chicago suburban area.

Denny Oklak, Chairman and Chief Executive Officer, commented, "For a number of years we have been looking for the right position in the O'Hare submarket, which we believe is one of the best long-term submarkets in Chicago because of its central location. The submarket has a very limited supply of land positions for new developments, which should provide an environment conducive to future rental rate growth. We expect these office buildings to add significant value and mass to our existing portfolio and further expand our Chicago area client base."

When used in this press release, the word "believes," "expects," "estimates" and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially. In particular, among the factors that could cause actual results to differ materially are continued qualification as a real estate investment trust, general business and economic conditions, competition, increases in real estate construction costs, interest rates, accessibility of debt and equity capital markets and other risks inherent in the real estate business including tenant defaults, potential liability relating to environmental matters and liquidity of real estate investments. Readers are advised to refer to Duke's Form 8-K Report as filed with the Securities and Exchange Commission on July 24, 2003 for additional information concerning these risks.

Duke Realty Corporation specializes in the ownership, construction, development, leasing and management of office and industrial real estate. Duke's properties encompass more than 115 million rentable square feet and are leased by a diverse and stable base of more than 4,200 tenants. Duke also provides these services through its Service Operations Group to approximately 300 tenants in more than 8.5 million square feet of space in properties owned by third-party clients. In addition, Duke owns or controls more than 4,400 acres of undeveloped land that can support more than 65 million square feet of future development.

As one of the most vertically-integrated real estate companies in the U.S., Duke maintains a full construction management and leasing staff, constructing buildings for itself as well as for third-parties. Through a joint venture with Bremner Healthcare, Duke is well positioned to provide development expertise to medical office clients. In addition to its office and industrial focus in 13 primary operating platforms in the Midwest and Southeast United States, Duke selectively pursues retail development opportunities, as well as nationwide opportunities through its National Development and Construction Group. Visit Duke on the web at www.dukerealty.com.