Liberty Property Trust Prices $350 Million of 4.75% Senior Notes Due 2020

MALVERN, Pa., Sept. 22 /PRNewswire-FirstCall/ -- Liberty Property Trust (NYSE: LRY), announced today that its limited partnership subsidiary, Liberty Property Limited Partnership, priced $350 million aggregate principal amount of 4.75% senior unsecured notes due October 1, 2020.  The offering is expected to close on September 27, 2010, subject to customary closing conditions.

The proceeds will be used to repay indebtedness outstanding under the Company's unsecured credit facility and for general corporate purposes.

This offering is being made pursuant to a prospectus supplement to the Company's base prospectus included in an automatic shelf registration statement initially filed with the Securities and Exchange Commission on May 8, 2008.

The offering may be made only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and prospectus relating to these securities may be obtained, when available, by contacting Banc of America Securities LLC, 100 West 33rd Street, 3rd Floor, New York, New York 10001, Attention: Prospectus Department, Phone 1 800-294-1322; Citi, Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone (800) 831-9146; or Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Syndicate Operations or by calling toll-free: 1-800-326-5897.

This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities, blue sky or other laws of any such state or other jurisdiction.

Liberty Property Trust (NYSE: LRY) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties.  Liberty's 79 million square foot portfolio includes more than 700 properties which provide office, distribution and light manufacturing facilities to 2,000 tenants.  

The statements contained in this press release may include forward-looking statements within the meaning of the federal securities law.  Although Liberty believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved.  As forward-looking statements, these statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the expected results.  These factors include, without limitation, the uncertainties affecting real estate businesses generally (such as entry into new leases, renewals of leases and dependence on tenants' business operations), risks relating to our ability to maintain and increase property occupancy and rental rates, the financial condition of tenants, the uncertainties of real estate development and construction activity, the costs and availability of financing, the effects of local economic and market conditions, regulatory changes, potential liability relative to environmental matters and other risks and uncertainties detailed in the company's filings with the Securities and Exchange Commission.  The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

SOURCE Liberty Property Trust

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