Washington Real Estate Investment Trust Prices Public Offering of 5.0 Million Common Shares

Business Wire, April 30, 2009

ROCKVILLE, Md. -- Washington Real Estate Investment Trust (WRIT) (NYSE: WRE) announced today that an underwritten public offering of 5.0 million common shares of beneficial interest under its shelf registration statement filed with the Securities and Exchange Commission was priced at $21.40 per share and is expected to close on May 5, 2009. WRIT has granted the underwriters a 30-day option to purchase an additional 750,000 common shares. The Company estimates that the net proceeds from this offering, before offering expenses, will be approximately $102.6 million or approximately $117.9 million if the underwriters' over-allotment option is exercised in full.

The net proceeds of this offering will be used to repay borrowings outstanding under WRIT’s line of credit and for general corporate purposes.

Wachovia Capital Markets, LLC, Citi, and Raymond James & Associates, Inc. are joint book-running managers. J.P. Morgan Securities Inc. is a co-lead manager and Robert W. Baird & Co., Credit Suisse Securities (USA) LLC, RBC Capital Markets Corporation, BNY Mellon Capital Markets, LLC and Morgan Keegan & Company, Inc. are the co-managers for the offering.

When available, copies of the preliminary prospectus supplement, prospectus and prospectus supplement may be obtained from Wachovia Capital Markets, LLC, Attn: Equity Syndicate Dept., 375 Park Avenue, New York, NY 10152, at 1-800-326-5897 or email a request to equity.syndicate@wachovia.com; from Citi, Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220 or by calling 1-800-831-9146 and from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, or by calling 1-800-248-8863.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. The offering may be made only by means of a prospectus and related prospectus supplement.

WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT owns a diversified portfolio of 93 properties consisting of 28 office properties, 22 industrial/flex properties, 17 medical office properties, 14 retail centers, 12 multi-family properties and land for development. WRIT shares are publicly traded on the New York Stock Exchange (NYSE:WRE).

Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, the effect of the current credit and financial market conditions, the availability and cost of capital, fluctuations in interest rates, tenants' financial conditions, the timing and pricing of lease transactions, levels of competition, the effect of government regulation, the impact of newly adopted accounting principles, changes in general and local economic and real estate market conditions, and other risks and uncertainties detailed from time to time in our filings with the SEC, including our 2008 Form 10-K. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.