Prime Group Realty Trust Executes Additional Leasing at 77 West Wacker Drive

CHICAGO--()--Feb. 27, 2004--Prime Group Realty Trust (NYSE:PGE) (the "Company") announced today the execution of a lease expansion and extension with McGuireWoods LLP, a large national law firm headquartered in Richmond, VA. The lease expansion effective as of February 1, 2004 added 65,756 square feet to McGuireWoods' existing 67,819 square foot lease at 77 West Wacker Drive, a 944,000 square foot office building in Chicago, Illinois, owned by a joint venture in which the Company has a 50% common ownership interest. In addition, the existing lease expiration date of December 31, 2010 was extended eight years to December 31, 2018.

77 West Wacker's leased percentage increased to 92.2% as a result of the transaction.

McGuireWoods LLP has approximately 750 lawyers (180 in Chicago) and 15 offices located worldwide. The expansion resulted from the firm's recent acquisition of Ross & Hardies. Bob Chodos of The John Buck Company represented McGuireWoods.

About the Company

Prime Group Realty Trust is a fully-integrated, self-administered, and self-managed real estate investment trust (REIT) that owns, manages, leases, develops, and redevelops office and industrial real estate, primarily in metropolitan Chicago. The Company owns 13 office properties containing an aggregate of 5.5 million net rentable square feet and 30 industrial properties containing an aggregate of 3.9 million net rentable square feet. In addition, the Company owns 217.4 acres of developable land and joint venture interests in three office properties containing an aggregate of 2.8 million net rentable square feet.

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect management's current views with respect to future events and financial performance. The words "believes", "expects", "anticipates", "estimates", and similar words or expressions are generally intended to identify forward-looking statements. Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, changes in general economic conditions, adverse changes in real estate markets as well as other risks and uncertainties included from time to time in the Company's filings with the Securities and Exchange Commission.

Contacts

Prime Group Realty Trust
Stephen J. Nardi, 312-917-1300
or
Jeffrey A. Patterson, 312-917-1300

Contacts

Prime Group Realty Trust
Stephen J. Nardi, 312-917-1300
or
Jeffrey A. Patterson, 312-917-1300