News Release Details

BOSTON, June 6 /PRNewswire-FirstCall/ -- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today that it has completed its previously announced sale of 280 Park Avenue in New York City for approximately $1.2 billion to an affiliate of Istithmar PJSC. The property is located in the heart of Midtown Manhattan on the west side of Park Avenue and consists of approximately 1.2 million square feet. Boston Properties acquired the property in 1997 and will continue to serve as property manager and leasing agent.

"The sale price for 280 Park Avenue demonstrates the value of our assets," said Mortimer B. Zuckerman, Chairman of Boston Properties. "We continue to look for ways to create value for our shareholders and sometimes that involves selectively selling core assets. We were delighted to work with Istithmar on this transaction and we look forward to a long relationship with them."

Boston Properties is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a diverse portfolio of Class-A office properties and also includes two hotels. The Company is one of the largest owners and developers of Class-A office properties in the United States, concentrated in five select markets -- Boston, Midtown Manhattan, Washington, D.C., San Francisco, and Princeton, N.J.

Visit the Company's web site at http://www.bostonproperties.com.

Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of the words "guidance," "expects," "plans," "estimates," "projects," "intends," "believes" and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Boston Properties' control and could materially affect actual results, performance or achievements. These factors include, without limitation, the ability to enter into new leases or renew leases on favorable terms, dependence on tenants' financial condition, the uncertainties of real estate development, acquisition and disposition activity, the ability to effectively integrate acquisitions, the costs and availability of financing (including the impact of interest rates on our hedging program), the effects of local economic and market conditions, the effects of acquisitions and dispositions, including possible impairment charges, the impact of newly adopted accounting principles on the Company's accounting policies and on period-to-period comparisons of financial results, regulatory changes and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. Boston Properties does not undertake a duty to update or revise any forward- looking statement whether as a result of new information, future events or otherwise.

CONTACT:
At The Company
Michael Walsh
Senior Vice President, Finance
+1-617-236-3410

Kathleen DiChiara
Investor Relations Manager
+1-617-236-3343

At Financial Relations Board
Marilynn Meek
General Info.
+1-212-827-3773