First Potomac Realty Trust Announces Tax Reporting Information for 2008 Common Share Distributions

Company Release - 1/20/2009 11:00 AM ET

BETHESDA, Md.--(BUSINESS WIRE)-- First Potomac Realty Trust (NYSE: FPO), a regional leader in the ownership, development and management of business parks and industrial properties, today announced the tax reporting information (Federal 1099) for the year 2008 distributions on its common shares.

The income tax treatment for the 2008 distributions for First Potomac Realty Trust Common Stock CUSIP# 33610F109 traded on the NYSE under ticker symbol "FPO" is as follows:


                                                            Distribution Type

                                                                        Total

                                                            Ordinary    Capital         Unrecap

 Declaration    Record        Payable      Distributions    Taxable     Gain            Sec.
                                                                                        1250

 Dates          Dates         Dates        Per Share        Dividend    Distribution    Gain

 1/22/2008      1/31/2008     2/8/2008     $0.34000         $0.20203    $0.13797        $0.03447

 4/22/2008      4/30/2008     5/2/2008     0.34000          0.20203     0.13797         0.03447

 7/22/2008      7/30/2008     8/8/2008     0.34000          0.20203     0.13797         0.03447

 10/22/2008     10/29/2008    11/7/2008    0.34000          0.20203     0.13797         0.03447

                              TOTALS       $1.36000         $0.80812    $0.55188        $0.13788

                              PERCENT      100.00%          59.42%      40.58%



The dividends classified above as ordinary income do not represent "qualified dividend income" and therefore are not eligible for reduced rates. The Company did not incur any foreign taxes. This information represents final income allocations.

For shareholders subject to alternative minimum tax, your share of the 2008 alternative minimum tax adjustment items can be calculated by multiplying the ordinary taxable dividend amount in box 1a of the 2008 Form 1099-DIV by 0.9936%. Please consult your tax advisor for proper treatment of this adjustment item.

About First Potomac Realty Trust

First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, developing, redeveloping and operating industrial properties and business parks in the Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. The Company's portfolio totals approximately 12 million square feet. The Company's largest tenant is the U.S. Government, which accounts for more than 6% of annualized rent. For more information, please visit us at www.first-potomac.com.

Forward Looking Statements

The forward-looking statements contained in this press release are subject to various risks and uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that its expectations will be achieved. Certain factors that could cause actual results to differ materially from the Company's expectations include changes in general or regional economic conditions; the Company's ability to timely lease or re-lease space at current or anticipated rents; changes in interest rates; changes in operating costs; the Company's ability to complete acquisitions on acceptable terms; and other risks detailed in the Company's Annual Report on Form 10-K and described from time to time in the Company's filings with the SEC. Many of these factors are beyond the Company's ability to control or predict. Forward-looking statements are not guarantees of performance. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.


    Source: First Potomac Realty Trust
Contact: First Potomac Realty Trust Barry Bass, 301-986-9200 Chief Financial Officer or Corporate Communications, Inc. Tripp Sullivan, 615-254-3376
Contact Information
First Potomac Realty Trust
7600 Wisconsin Avenue
11th Floor
Bethesda, MD 20814
(301) 986-9200



Investor Relations
(301) 244-6200
investorrelations@first-potomac.com


Transfer Agent
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