Duke Realty Corporation Redeems Series I Preferred Shares.INDIANAPOLIS -- Duke Realty Corporation (NYSE NYSE See: New York Stock Exchange :DRE DRE Digital rectal examination. Mentioned in: Rectal Examination ) announced today that it has called for redemption all of its outstanding 8.45% Series I Cumulative Redeemable Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. , par value $.01 per share, and all of the Depositary Shares representing such Series I Preferred Shares (NYSE:DREPRI)(CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. No.: 264411810). The redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. is February 1, 2006. The cash redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. for the Series I Preferred Shares is $250.00 per share, which is equivalent to a cash redemption price of $25.00 per Series I Depositary Share, plus $0.18191 in accrued dividends, for an aggregate redemption price of $25.18191 per Series I Depositary Share. The Notice of Redemption and related materials have been distributed to holders of Duke's Series I Depositary Shares representing the Series I Preferred Shares. Dividends on the Series I Preferred Shares represented by the Series I Depositary Shares will cease to accrue on and after the redemption date, and holders will have no rights other than the right to receive the redemption price, without interest, upon surrender of their shares. As specified in the Notice of Redemption, payment of the redemption price will be made only upon presentation and surrender of the Series I Depositary Shares representing the Series I Preferred Shares to Duke's transfer agent, American Stock Transfer and Trust Company, by registered or certified mail, properly insured, or hand delivery during normal business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a at 59 Maiden Lane, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York 10038. Questions relating to the Notice of Redemption and related materials should be directed to American Stock Transfer and Trust Company, the redemption agent, telephone number 800.937.5449. 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. |
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