COPT Prices Offering Of 6,000,000 Series L Cumulative Preferred Shares

Corporate Office Properties Trust (COPT) (NYSE: OFC), an office real estate investment trust (REIT) that focuses primarily on serving the specialized requirements of U.S. Government and Defense Information Technology tenants, announced the pricing of its public offering of 6,000,000 of its 7.375% Series L Cumulative Preferred Shares with a liquidation preference of $25.00 per share. The Company has granted the underwriters an option to purchase up to an additional 900,000 shares during the next 30 days to cover any over-allotments. The Company estimates the net proceeds from this offering, after deducting the underwriting discount but before offering expenses, will be approximately $144 million or approximately $166 million if the underwriters’ over-allotment option is exercised in full. The offering is expected to close on June 27, 2012.

The joint book-running managers for this offering are Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

The Company intends to use the net proceeds from this offering to repay indebtedness outstanding under its unsecured revolving credit facility and for general corporate purposes, including potential future full or partial repurchases or redemptions of its outstanding preferred shares.

The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus, which are part of an effective shelf registration statement filed with the Securities and Exchange Commission. Copies of these documents may be obtained from Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, by calling 800-326-5897 or by email at; and from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 7th Floor, New York, NY 10038, Attn: Prospectus Department, by emailing or by calling 800-294-1322.

This announcement 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 other 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 other jurisdiction.

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