BOSTON, July 28 /PRNewswire/ -- Boston Properties, Inc. (NYSE: BXP), a
self-managed and self-advised real estate investment trust, announced today a
dividend reinvestment and stock purchase plan for common and preferred
shareholders of Boston Properties, as well as holders of units of limited
partnership interests in Boston Properties Limited Partnership, the Company's
operating partnership.
The plan provides shareholders and unit holders with a convenient and
economical means of purchasing additional common shares of Boston Properties
by allowing participants to automatically invest cash dividends and
distributions at a 3% discount. The plan also permits shareholders and unit
holders to make optional cash purchases from a minimum of $100 to a maximum of
$25,000 per calendar quarter, but no discount will be applicable to these
purchases.
The plan will be administered by the Company's transfer agent, BankBoston,
NA c/o EquiServe, and will commence with a mailing of the plan prospectus to
shareholders and unit holders on July 28, 1999. Further details and
enrollment information regarding the dividend reinvestment and stock purchase
plan will be included with the mailing. A copy of the prospectus is also
available by calling the plan administrator at 1-888-485-2389.
Boston Properties is a fully integrated, self-administered and
self-managed real estate investment trust that develops, redevelops, acquires,
manages, operates and owns a diverse portfolio of office, industrial and hotel
properties. The Company is one of the largest owners and developers of office
properties in the United States, concentrated in the Northeast Corridor from
Virginia to Greater Boston and in downtown San Francisco.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy.
To receive Boston Properties' latest news and corporate developments via
fax at no cost, please call 1-800-PRO-INFO; use company code BXP. Visit the
Company's web site at http://www.bostonproperties.com . Also see
http://www.frbinc.com .
SOURCE Boston Properties, Inc.
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Related links:
http://www.bostonproperties.com
CONTACT:
Elaine M. Quinlan, Investor Relations of
Boston Properties, 617-236-3300; General Info, Marianne Stewart,
212-661-8030, Analysts, Claire Koeneman, 312-266-7800, or Media,
Judith Sylk-Siegel, 212-661-8030, all of The Financial Relations
Board
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