EXHIBIT 99.1 PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • September 10th, 2002 • Keystone Property Trust • Real estate investment trusts • New York
EXHIBIT 99.2 FOR IMMEDIATE RELEASE -------------------------------------------- ------------------------------------ KEYSTONE PROPERTY TRUST TO REPURCHASE CONVERTIBLE PREFERRED SHARES WEST CONSHOHOCKEN, PENNSYLVANIA, SEPTEMBER 9, 2002 - Keystone...Repurchase Agreement • September 10th, 2002 • Keystone Property Trust • Real estate investment trusts
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.
