Tax Treatment of 2007 Distributions for Republic Property Trust

MALVERN, Pa., Jan. 15 /PRNewswire-FirstCall/ -- Liberty Property Trust
(NYSE: LRY), which purchased Republic Property Trust on October 4, 2007,
announced today the final tax treatment for the 2007 distributions paid by
Republic Property Trust on its common shares. Shareholders are encouraged to
consult with their personal tax advisors as to their specific tax treatment of
Republic Property Trust distributions. The table below summarizes the income
tax treatment of the Republic Property Trust's total distributions of $0.375
per common share (CUSIP No. 760737106):
Common share distributions:

Form 1099- DIV (Boxes 1a Box 1a Box 2a Box 2b Box 3
& 2a)
Cash Unrecaptured
Distri- Ordinary Total Section 1250
Record Payable bution Taxable Capital Gain Gain
Date Date Per Dividend Distribution (25% Rate Return of
Share Gain) Capital
1/31/2007 2/15/2007 $0.125 $0 $0.125 $0.0281 -
5/7/2007 5/21/2007 $0.125 $0 $0.125 $0.0281 -
8/3/2007 8/17/2007 $0.125 $0 $0.125 $0.0281 -

Totals $0.375 $0 $0.375 $0.0843 -

Liberty Property Trust (NYSE: LRY) is a leader in commercial real estate,
serving customers in the United States and United Kingdom, through the
development, acquisition, ownership and management of superior office and
industrial properties. Liberty's 70 million square foot portfolio includes
more than 700 properties which provide office, distribution and light
manufacturing facilities to 2,100 tenants.
SOURCE Liberty Property Trust

Jeanne A. Leonard of Liberty Property Trust, +1-610-648-1704