BOSTON, March 10 /PRNewswire/ -- Cabot Industrial Trust (NYSE: CTR), a
national owner, operator, and developer of industrial property, today
announced that its Board of Trustees has declared a dividend of $0.34 per
common share, payable on April 30, 1999, to stockholders of record on April 9,
1999.  This compares to the $0.325 per share dividend declared for the prior
quarter and, on an annualized basis, would be $1.36 as compared with the prior
annual dividend rate of $1.30, an increase of over 4%.
    Cabot also announced the election of George M. Lovejoy, Jr. as a member of
the Board of Trustees, who will replace Noah Herndon, who died in January of
this year.  Mr. Lovejoy is currently Chief Executive Officer of Fifty
Associates, a private real estate investment company.  He was formerly
President and Chief Executive Officer of Meredith & Grew, Inc., a large
Boston-based real estate service company.  Ferdinand Colloredo-Mansfeld, the
Company's Chairman of the Board and Chief Executive Officer, noted, "We are
very pleased that George Lovejoy, who has substantial real estate and REIT
experience, has agreed to join Cabot's Board of Trustees."
    Cabot's Annual Meeting of Shareholders will be held on Monday,
May 3, 1999, at 9:00 a.m., E.S.T.  The record date for the meeting will be
March 26, 1999.
    Cabot Industrial Trust is a fully integrated real estate company that
specializes in the ownership, acquisition and development of industrial
properties with 206 industrial properties containing 28 million square feet in
21 states, as of December 31, 1998.  The Company focuses on a broad spectrum
of industrial property types nationwide, including large bulk distribution
facilities, multitenant distribution facilities and workspace properties.
    In addition to historical information, this press release contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995.  These statements are based on management's
current expectations about the industry and the markets in which the Company
operates.  Such forward-looking statements are not guarantees of future
performance and involve known or unknown risks, uncertainties or other factors
which may cause actual results, performance or achievements of the Company to
be materially different from any future results, performance, or achievements
expressed or implied by such forward-looking statements.  Actual operating
results may be affected by various factors including, without limitation,
changes in national and local economic conditions, competitive market
conditions, uncertainties and costs related to and the imposition of
conditions on receipt of governmental approvals and costs of material and
labor, all of which may cause such actual results to differ materially from
what is expressed or forecast in this press release.  Capital and credit
market conditions which affect the Company's cost of capital also influence
operating results.

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