Kilroy Realty Declares Quarterly Dividends

LOS ANGELES--(Business Wire)--
Kilroy Realty Corporation (NYSE: KRC) announced today that its
board of directors declared a regular quarterly cash dividend of $0.58
per common share payable on July 18, 2008 to stockholders of record on
June 30, 2008. The dividend is equivalent to an annual rate of $2.32
per share.

The board of directors also declared a dividend of $0.4875 per
share on the company's 7.80% Series E Cumulative Redeemable Preferred
Stock for the period commencing on and including May 15, 2008 and
ending on and including August 14, 2008. The dividend will be payable
on August 15, 2008 to Series E preferred stockholders of record on
July 31, 2008.

The board of directors also declared a dividend of $0.46875 per
share on the company's 7.50% Series F Cumulative Redeemable Preferred
Stock for the period commencing on and including May 15, 2008 and
ending on and including August 14, 2008. The dividend will be payable
on August 15, 2008 to Series F preferred stockholders of record on
July 31, 2008.

Kilroy Realty Corporation, a member of the S&P Small Cap 600
Index, is a Southern California-based real estate investment trust
active in the office and industrial property sectors. For over 60
years, the company has owned, developed, acquired and managed real
estate assets primarily in the coastal regions of Los Angeles, Orange
and San Diego counties. Kilroy Realty currently has an in-process
development and redevelopment pipeline of approximately 600,000 square
feet. At March 31, 2008, the company owned 8.1 million rentable square
feet of commercial office space and 3.9 million rentable square feet
of industrial space. More information is available at
www.kilroyrealty.com.

Kilroy Realty Corporation
Tyler H. Rose, 310-481-8484

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