Corporate Office Properties Lowers 2011 EPS Guidance to $0.12 - $0.30

Corporate Office Properties Trust OFC announced today that it would recognize a non-cash impairment loss of approximately $28 million, or $0.39 per diluted share, related to its investment in Fort Ritchie in Cascade, MD. The impairment loss will be reflected in the Company's operating results for the three months ended March 31, 2011. Updated Earnings Guidance – COPT previously announced guidance for diluted earnings (loss) per share and for diluted funds from operations per share for 2011. For the year ending December 31, 2011, the Company previously provided guidance for Diluted EPS of between $0.51 and $0.69 and for Diluted FFOPS of between $2.35 and $2.57. COPT also previously announced guidance for Diluted EPS of between $0.04 and $0.07 and for Diluted FFOPS of between $0.51 and $0.54 for the three months ending March 31, 2011. Adjusting for the effect of the impairment of Fort Ritchie, the Company has modified its guidance for Diluted EPS to between $0.12 and $0.30 and its guidance for Diluted FFOPS to between $1.96 and $2.18 for the year ending December 31, 2011. The Company also modified its guidance for Diluted EPS to between ($0.35) and ($0.32) and its guidance for Diluted FFOPS to between $0.12 and $0.15 for the three months ended March 31, 2011.