Select Income REIT Announces Proposed Public Offering Of 8,000,000 Common Shares

Select Income REIT (NYSE: SIR) today announced that it commenced a public offering of 8,000,000 common shares. SIR expects to use the net proceeds from this offering to repay amounts outstanding under its revolving credit facility and for general business purposes including property acquisitions. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 1,200,000 common shares.

BofA Merrill Lynch, Citigroup, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities and RBC Capital Markets are the joint book running managers for the offering.

This press release is neither an offer to sell nor a solicitation of an offer to buy SIR common shares, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The preliminary prospectus supplement relating to this offering and related prospectus are expected to be filed with the Securities and Exchange Commission (SEC) and copies can be obtained by contacting the offices of: BofA Merrill Lynch, 222 Broadway, New York, New York, 10038; Attention: Prospectus Department, by email at dg.prospectus_requests@baml.com; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; or Morgan Stanley & Co. LLC, Attention: Prospectus Department,180 Varick Street, 2 nd floor, New York, New York, 10014; Attention: Prospectus Department, by email at prospectus@morganstanley.com; or UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone: (888) 827-7275; or Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, by email at cmclientsupport@wellsfargo.com or RBC Capital Markets, Attention: Prospectus Department, Three World Financial Center, 200 Vesey Street, 8th floor, New York, New York 10281-8098, telephone: 877-822-4089.

WARNING CONCERNING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON SIR’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED. FOR EXAMPLE, ALTHOUGH THIS PRESS RELEASE REFERS TO AN OFFERING OF 8,000,000 COMMON SHARES, GREATER OR FEWER THAN 8,000,000 COMMON SHARES MAY BE SOLD, OR THIS OFFERING MAY BE WITHDRAWN. INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENT.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the New York Stock Exchange. No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Copyright Business Wire 2010

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