BOSTON, Sept. 14 /PRNewswire/ -- Boston Properties, Inc. (NYSE: BXP),
announced today that its Board of Directors has authorized a common stock
repurchase program pursuant to which the Company would be authorized to
purchase up to $100 million of its common stock at current market prices. The
Company plans to repurchase shares from time to time in open market
transactions at prevailing prices or in privately negotiated transactions,
depending on market prices and other conditions. The authority granted by the
Board may, in the discretion of the Company's senior management, be exercised
from time to time and in such amounts as market conditions warrant.
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 Class A office, industrial
and hotel properties. The Company is one of the largest owners and developers
of Class A office properties in the United States, concentrated in four core
markets -- Boston, Midtown Manhattan, Washington, DC and San Francisco.
To receive Boston Properties' latest news and corporate developments,
visit the Company's web site at http://www.bostonproperties.com , or also see
http://www.frbinc.com .
This press release contains forward-looking statements within the meaning
of the Federal securities laws. You should exercise caution in interpreting
and relying on forward-looking statements because they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond Boston Properties' control and could materially affect actual results,
performance or achievements. These factors include, without limitation, the
ability to enter into new leases or renew leases on favorable terms,
dependence on tenants' financial condition, the uncertainties of real estate
development and acquisition activity, the ability to effectively integrate
acquisitions, the costs and availability of financing, the effects of local
economic and market conditions, regulatory changes and other risks and
uncertainties detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
SOURCE Boston Properties, Inc.
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Related links:
http://www.bostonproperties.com
CONTACT:
Edward H. Linde, President & Chief Executive
Officer of Boston Properties, Inc., +1-617-236-3300, or Media,
Judith Sylk-Siegel of The Financial Relations Board,
+1-212-661-8030
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