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BioMed Realty Trust Reports First Quarter 2009 Operating and Financial Results
Date:4/29/2009

--------- Total proforma portfolio 11,866,554 ==========

As of March 31, 2009, the company's operating portfolio was 85.9% leased to 121 tenants.

Quarterly Distributions

BioMed announced today that its board of directors intends to modify the company's dividend distributions, starting with the dividend expected to be declared in the second quarter of 2009. The company expects to re-set its annualized dividend rate at approximately $0.44 per share of common stock. The company anticipates that the revised dividend level will result in approximately $76 million of retained cash flow annually, which may be utilized to pay down BioMed's outstanding debt and further enhance the company's strong liquidity position.

"The decision to re-set the dividend level was made in the best long-term interests of BioMed and its stockholders in order to further enhance our capital position in light of the ongoing uncertainty in the credit markets," said Chairman and Chief Executive Officer Alan Gold. "This new dividend level will protect and reward our stockholders by allowing us to further strengthen our liquidity position, thereby enhancing our ability to execute on our core business plan and take advantage of compelling opportunities in the future."

Earnings Guidance

The company is raising its 2009 guidance for net income per diluted share and FFO per diluted share, largely reflecting the higher than anticipated first quarter FFO of $0.56, and narrowing its 2009 guidance for net income per diluted share and FFO per diluted share due to the company's continued expectation of refinancing the construction loan for the Center for Life Science | Boston around mid-year 2009. The company's revised 2009 guidance for net income per
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SOURCE BioMed Realty Trust, Inc.
Copyright©2009 PR Newswire.
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