NEWTON, Mass.--(BUSINESS WIRE)-- HRPT Properties Trust (NYSE: HRP) today announced that its subsidiary, Government Properties Income Trust (NYSE: GOV), has priced an initial public offering of 10,000,000 common shares of beneficial interest at $20 per share, for a total of $200 million of gross proceeds.

The offering is expected to close on June 8, 2009. The underwriters have a 30-day option to purchase up to an additional 1,500,000 shares to cover over allotments, if any.

GOV was formed as a 100% subsidiary of HRP. Upon completion of the offering, HRP will continue to own approximately 49.9% of GOV. All the shares are being offered by GOV, and the proceeds of the offering will be used principally to repay GOV debt.

A registration statement relating to the offering of common shares of beneficial interest of GOV discussed above was declared effective by the Securities and Exchange Commission on June 2, 2009. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Merrill Lynch & Co., Wachovia Securities and Morgan Stanley are the joint book running managers for the offering. Citi, Morgan Keegan & Company, Inc., RBC Capital Markets and UBS Investment Bank are the joint lead managers. A copy of the offering prospectus can be obtained by contacting Merrill Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New York, New York 10080, telephone: (212) 449-1000, Wachovia Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, at (800) 326-5897 or email to [email protected], Morgan Stanley, 180 Varick Street, 2^nd floor, New York, New York 10014, Attention: Prospectus Department, toll free (866) 718-1649 or by email at [email protected] or by contacting any of the other underwriters listed above.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON HRP'S PRESENT EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR. FOR EXAMPLE: THE FACT THAT THIS OFFERING HAS PRICED MAY IMPLY THAT THE OFFERING WILL CLOSE; BUT THE CLOSING IS SUBJECT TO CONDITIONS CUSTOMARY IN TRANSACTIONS OF THIS TYPE AND MAY BE DELAYED OR MAY NOT OCCUR AT ALL. IN ADDITION, THE FACT THAT THE UNDERWRITERS HAVE AN OVER ALLOTMENT OPTION MAY IMPLY THAT THIS OPTION WILL BE EXERCISED. HOWEVER, THE UNDERWRITERS ARE NOT UNDER ANY OBLIGATION TO EXERCISE THIS OPTION, OR ANY PORTION OF IT, AND MAY NOT DO SO. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the New York Stock Exchange. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

    Source: HRPT Properties Trust