Boston Properties Announces 2008 Tax Treatment of Its Distributions

BOSTON, Jan. 12 /PRNewswire-FirstCall/ -- Boston Properties, Inc. (NYSE: BXP),
a real estate investment trust, announced today the 2008 tax treatment of its
distributions as described below. Shareholders are encouraged to consult with
their personal tax advisors as to their specific tax treatment of Boston
Properties distributions.

2008
2008 Non-
Total taxable
Total 2008 Capital Distri-
Total Distribution Taxable Gain bution
Record Payable Distribution Allocable to Ordinary Distri- (Return of
Date Date per share 2008 Dividends bution Capital)

Common Shares (CUSIP #101121101)

12/31/07 1/30/08 $6.660000(1) $2.875471 $1.489153 $0.000000 $1.386318
3/31/08 4/30/08 $0.680000 $0.680000 $0.352159 $0.000000 $0.327841
6/30/08 7/31/08 $0.680000 $0.680000 $0.352159 $0.000000 $0.327841
9/30/08 10/31/08 $0.680000 $0.680000 $0.352159 $0.000000 $0.327841
12/31/08 1/30/09 $0.680000 $0.000000 $0.000000 $0.000000 $0.000000

Totals $9.380000 $4.915471 $2.545630 $0.000000 $2.369841
100% 51.7881% 0.0000% 48.2119%

(1) Amount consists of a $5.98 per share special distribution and a $0.68
per share regular quarterly distribution.

The common stock distribution with a record date of December 31, 2007 is a
split-year dividend of which an aggregate of $2.875471 per common share is
allocable to 2008. The entire common stock distribution with a record date of
December 31, 2008 will be allocable to 2009 for federal income tax purposes.

Boston Properties is a fully integrated, self-administered and self-managed
real estate investment trust that develops, redevelops, acquires, manages,
operates and owns a property portfolio primarily comprised of Class A office
space and one hotel. The Company is one of the largest owners and developers
of Class A office properties in the United States, concentrated in five
markets - Boston, Midtown Manhattan, Washington, D.C., San Francisco, and
Princeton, N.J.
For more information about Boston Properties, please visit the Company's web
site at www.bostonproperties.com.

SOURCE Boston Properties, Inc.

Michael Walsh, Senior Vice President, Finance, +1-617-236-3300, or Arthur
Flashman, Vice President, Controller, +1-617-236-3300, both of Boston
Properties; or Marilynn Meek, General Information, Financial Relations Board,
+1-212-827-3773