Prime Group Realty Trust Extends Major Tenant Lease At 77 West Wacker Drive

CHICAGO--()--March 10, 2004--Prime Group Realty Trust (NYSE:PGE) (the "Company") announced today the execution of a lease extension with Jones Day, a prominent international law firm. The lease extension added 15 years of lease term to the existing 138,764 square foot lease with Jones Day 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. The lease was extended to September 30, 2022 from September 30, 2007.

Jones Day has more than 2,200 lawyers (160 in Chicago) and 30 offices located worldwide. Melissa Copley and Steve Steinmeyer of Jones Lang LaSalle represented Jones Day.

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 or Jeffrey A. Patterson, 312-917-1300

Contacts

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