Gladstone Commercial Corp. Announces Dividends for January, February and March for its Series A Preferred Stock

Business Wire, Feb 6, 2006

MCLEAN, Va. -- Gladstone Commercial Corp. (Nasdaq:GOOD) (the "Company") announced today that the Board of Directors declared its prorated cash dividend for January of $0.0215278; and the monthly cash dividends of $0.1614583 for each of the months of February and March of 2006, for the Company's 7.75% Series A Cumulative Redeemable Preferred Stock. A prorated dividend for January 2006 will be paid on the Series A Preferred Stock to reflect the accrual of dividends from the issuance of such shares on January 26, 2006. Monthly dividends will be payable on February 28, 2006 and March 31, 2006, to those shareholders of record for those dates on February 17, 2006 and March 20, 2006, respectively. The dividend equates to an annual dividend of $1.9375 per share. The Series A Preferred Stock trades on the Nasdaq under the symbol "GOODP."

The tax characteristics of the dividends will be reported to each shareholder on Form 1099 for the year ending December 31, 2006.

Summary Table for the quarter ending March 31, 2006:
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  Declared    X-Dividend     Record Date    Payment Date     Amount
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 February 6   February 15    February 17    February 28    $0.0215278
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 February 6   February 15    February 17    February 28    $0.1614583
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 February 6    March 16       March 20        March 31     $0.1614583
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             Total for the Quarter Ending March 31, 2006:  $0.3444444
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Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties through sale/leaseback transactions and selectively making long-term mortgage loans. Additional information can be found at www.GladstoneCommercial.com.

For further information contact our Investor Relations Manager, Kelly Sargent at 703-287-5835.

This press release may include statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the future performance of the Company. Words such as "believes," "expects," "estimates," "projects" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements include, among others, those factors listed under the caption "Risk factors" of the Company's Form 10-K/A for the Fiscal Year Ended December 31, 2004, as filed with the Securities and Exchange Commission on October 21, 2005. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.