Boston Properties, Inc. Declares Quarterly Dividend

December 22, 1998

BOSTON, MA, December 22, 1998 -- The Board of Directors of Boston Properties, Inc. (NYSE:BXP) today declared a dividend of $0.425 per share for the period October 1, 1998 to December 31, 1998, payable on January 28, 1999 to shareholders of record on December 30, 1998.

Boston Properties, Inc. 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 office, industrial and hotel properties predominantly located in Greater Boston, Midtown Manhattan, Greater Washington, D.C., San Francisco, California, Princeton/East Brunswick, New Jersey, Richmond, Virginia and Baltimore, Maryland. The Company is one of the largest owners and developers of office properties in the United States.

To receive Boston Properties' latest news and corporate developments via fax at no cost, please call 1-800-PRO-INFO; use company code BXP. Visit the Company's web site at http://www.bostonproperties.com. Also see http://www.frbinc.com.

AT THE COMPANY:
Edward H. Linde - President, CEO & Director
David G. Gaw - SVP & CFO
(617) 859-2600

AT THE FINANCIAL RELATIONS BOARD:
Marianne Stewart - General Info. (212) 661-8030
Claire Koeneman - Analyst (312) 266-7800
Judith Sylk-Siegel - Media (212) 661-8030