Trizec Properties Announces Tax Treatment of 2005 Dividends

Trizec Properties, Inc. (NYSE:TRZ), announced today the
tax treatment of its 2005 dividend distributions on its common stock.
The treatment of Trizec's total 2005 distribution of $0.80 per common
share is outlined below. Shareholders are encouraged to consult with
their personal tax advisors as to their specific tax treatment of
Trizec Properties dividends.
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                                  Record     Payable      Cash       
 Security               Ticker     Date       Date     Distributions 
Description    CUSIP    Symbol  (mm/dd/yy) (mm/dd/yy)   Per Share     
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  Common    89687P 10 7   TRZ     03/31/05   04/15/05    $0.200000
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  Common    89687P 10 7   TRZ     06/30/05   07/15/05    $0.200000
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  Common    89687P 10 7   TRZ     09/30/05   10/17/05    $0.200000
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  Common    89687P 10 7   TRZ     12/30/05   01/17/06    $0.200000
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  Totals                                                 $0.800000
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                                                       Nontaxable
                                  Taxable  Qualified  Distributions
 Security               Ticker   Ordinary  Dividends   (Return of
Description    CUSIP    Symbol   Dividend    (1)        Capital)
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  Common    89687P 10 7   TRZ   $0.182036  $0.028724     $0.017964
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  Common    89687P 10 7   TRZ   $0.182036  $0.028724     $0.017964
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  Common    89687P 10 7   TRZ   $0.182036  $0.028724     $0.017964
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  Common    89687P 10 7   TRZ   $0.182036  $0.028724     $0.017964
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  Totals                        $0.728144  $0.114896     $0.071856
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   (1) Qualified Dividends are a subset of, and included in, the
Taxable Ordinary Dividend amount.

   Trizec Properties, Inc., a real estate investment trust (REIT)
headquartered in Chicago, is one of the largest owners and operators
of commercial office properties in the United States. The Company has
ownership interests in and manages a high-quality portfolio of 49
office properties totaling approximately 36 million square feet
concentrated in the metropolitan areas of seven major U.S. cities. The
Company trades on the New York Stock Exchange under the symbol TRZ.
For more information, visit Trizec's web site at www.trz.com or call
toll free at 1 [phone].