EXHIBIT 99.2
FOR IMMEDIATE RELEASE
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KEYSTONE PROPERTY TRUST TO REPURCHASE CONVERTIBLE PREFERRED SHARES
WEST CONSHOHOCKEN, PENNSYLVANIA, SEPTEMBER 9, 2002 - Keystone Property Trust
(NYSE: KTR) (the "Company" or "Keystone") announced today that it has used a
portion of the proceeds from its sale of 2.0 million common shares to repurchase
800,000 Series A Convertible Preferred Shares and 200,000 Series C Convertible
Preferred Shares. The Company will use the remaining proceeds to redeem 300,000
Series B Convertible Preferred Units of its operating partnership, Keystone
Operating Partnership, L.P. The redemption is scheduled to close on September
20, 2002.
Keystone Property Trust, with headquarters in West Conshohocken, Pennsylvania,
is a fully integrated real estate investment trust with a current portfolio of
122 industrial and office properties aggregating 23 million square feet in the
Eastern United States. Keystone's industrial portfolio contains 21 million
square feet of big box distribution assets, with more than 15 million square
feet located in the core markets of New Jersey, Pennsylvania and Indianapolis.
For more information, contact Xxxxxxxx X. Xxxxxx at (000) 000-0000, send email
to XXXX@XXXXXXXXXXXXXXXX.XXX or visit the Company website at
XXX.XXXXXXXXXXXXXXXX.XXX
THIS PRESS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE FORWARD LOOKING
STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995, INCLUDING STATEMENTS REGARDING THE INTENT, BELIEF OR CURRENT EXPECTATIONS
OF THE COMPANY, ITS TRUSTEES, OR ITS OFFICERS WITH RESPECT TO THE FUTURE
OPERATING PERFORMANCE OF THE COMPANY AND THE RESULT AND THE EFFECT OF LEGAL
PROCEEDINGS. INVESTORS ARE CAUTIONED THAT ANY SUCH FORWARD LOOKING STATEMENTS
ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND INVOLVE RISKS AND UNCERTAINTIES,
AND THAT ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE IN THE FORWARD LOOKING
STATEMENTS AS A RESULT OF VARIOUS FACTORS. IMPORTANT FACTORS THAT COULD CAUSE
SUCH DIFFERENCES ARE DESCRIBED IN THE COMPANY'S PERIODIC FILINGS WITH THE
SECURITIES AND EXCHANGE COMMISSION, INCLUDING THE COMPANY'S FORM 10-K AND
QUARTERLY REPORTS ON FORM 10-Q.
CONTACT: Xxxxxxxx X. Xxxxxx of Keystone Property Trust (Phone:
000-000-0000)
Page 1 of 1
200 Four Falls Corporate Center x Xxxx Xxxxxxxxxxxx, XX 00000
Phone: 484 530.1800 o Fax: 484 530.0130
Internet: xxx.xxxxxxxxxxxxxxxx.xxx
