Keystone Property Trust Announces Regular Quarterly Dividend for Second Quarter 2004

Keystone Property Trust Announces Regular Quarterly Dividend for
Second Quarter 2004 


WEST CONSHOHOCKEN, Pa., July 6  /PRNewswire-FirstCall/ -- Keystone Property
Trust (NYSE:KTR) today announced that its Board of Trustees has declared a
dividend of $0.33 per common share payable on July 30, 2004, to shareholders of
record as of July 16, 2004.  This dividend represents an annualized rate of
$1.32 per common share.

The Board of Trustees has declared a dividend of $0.5703125 per share of Series
D Cumulative Redeemable Preferred Stock (NYSE:KTRPrD) ("Series D") payable on
July 30, 2004, to shareholders of record as of July 16, 2004.  This dividend
represents an annualized rate of $2.28125 per Series D preferred share.

The Board of Trustees has also declared a dividend of $0.4609375 per share of
Series E Cumulative Redeemable Preferred Stock (NYSE:KTRPrE) ("Series E")
payable on July 30, 2004, to shareholders of record as of July 16, 2004.  This
dividend represents an annualized rate of $1.84375 per Series E preferred
share.

Keystone Property Trust, with headquarters in West Conshohocken, Pennsylvania,
is a fully integrated real estate investment trust with a current portfolio of
143 properties, including properties under development, of over 34
million-square-feet in the Eastern United States.  Keystone Property Trust has
entered into a definitive merger agreement with Prologis and affiliates of
investment funds managed by Eaton Vance Management.  For more information,
contact Jennifer Pancoast [phone], send email to  or visit the Company
website at http://www.keystoneproperty.com/. 

DATASOURCE: Keystone Property Trust



CONTACT:  Jennifer Pancoast, Keystone Property Trust, [phone];

or MEDIA: Michael Beckerman, Beckerman Public Relations, [phone],

, for Keystone Property Trust



Web site:  http://www.keystoneproperty.com/ 

Copyright