EOP Operating Limited Partnership Announces Extension of Its Cash Tender Offers and Related Consent Solicitations for $8.4 Billion of its Outstanding Debt Securities

Business Wire, Feb 2, 2007

CHICAGO -- Equity Office Properties Trust (NYSE:EOP) announced today that its subsidiary, EOP Operating Limited Partnership, has extended its cash tender offers and related consent solicitations in respect of an aggregate of approximately $8.4 billion of its outstanding unsecured debt securities, which we refer to as the "Notes." The tender offers and related consent solicitations will now expire at 8:00 a.m., New York City time, on February 9, 2007, unless extended or earlier terminated (the "Offer Expiration Date"). As of the date hereof, approximately $8.1 billion aggregate principal amount of Notes have been tendered pursuant to the tender offers.

EOP Operating Limited Partnership indicated that the tender offers and consent solicitations have been extended by one day in light of the expected adjournment to February 7, 2007 of the shareholders' meeting relating to the proposed mergers of Equity Office Properties Trust and EOP Operating Limited Partnership with affiliates of The Blackstone Group.

As previously announced, the consent payment deadlines with respect to the tender offers and consent solicitations for all of the Notes have expired and withdrawal rights have terminated. Holders of Notes who have not already tendered their Notes may do so at any time on or prior to the Offer Expiration Date, but such holders will only be eligible to receive the applicable tender offer consideration, which is an amount, paid in cash, equal to the applicable total consideration less the applicable consent payment, for their Notes.

The tender offers and consent solicitations relating to the Notes are made upon the terms and conditions set forth in the Offer to Purchase and the related Consent and Letter of Transmittal, as heretofore amended and as amended hereby. Further details about the terms and conditions of the tender offers and consent solicitations relating to the Notes are set forth in the Offer to Purchase, as well as in the press releases issued by Equity Office Properties Trust on December 29, 2006, January 2, 2007, January 10, 2007 (two releases), January 11, 2007, January 18, 2007 and January 24, 2007.

EOP Operating Limited Partnership has retained Goldman, Sachs & Co. and Merrill Lynch, Pierce, Fenner & Smith Incorporated to act as the lead Dealer Managers and Solicitation Agents for the tender offers and consent solicitations for the Notes, and they can be contacted at (877) 686-5059 (toll-free) ((212) 357-0775 (collect)) and (888) 654-8637 (toll-free) ((212) 449-4914 (collect)), respectively. Banc of America Securities LLC, Bear, Stearns & Co. Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. Incorporated are also acting as Dealer Managers and Solicitation Agents in connection with the tender offers and consent solicitations for the Notes. Requests for documentation for the tender offers and consent solicitations relating to the Notes may be directed to Global Bondholder Services Corporation, the Information Agent, which can be contacted at (212) 430-3774 (for banks and brokers only) or (866) 924-2200 (for all others toll-free).

This release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The tender offers and consent solicitations for the Notes are only being made pursuant to the tender offer and consent solicitation documents as heretofore amended and as amended hereby, including the Offer to Purchase, including the documents incorporated, or deemed incorporated, by reference therein. The tender offers and consent solicitations for the Notes are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the tender offers and consent solicitations to be made by a licensed broker or dealer, the tender offers and consent solicitations will be deemed to be made on behalf of EOP Operating Limited Partnership by the Dealer Managers (who are also the Solicitation Agents), or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

About Equity Office Properties Trust

Equity Office is the largest publicly traded owner and manager of office properties in the United States by building square footage. At December 31, 2006, Equity Office had a national office portfolio comprised of whole or partial interests in 543 office buildings comprising 103.1 million square feet in 16 states and the District of Columbia. As of that date, Equity Office owned buildings in 24 markets and in 98 submarkets, enabling it to provide premium office space for a wide range of local, regional and national customers.

EOP Operating Limited Partnership is a Delaware limited partnership through which Equity Office conducts substantially all of its business and owns, either directly or indirectly through subsidiaries, substantially all of its assets.