BOSTON, July 23 /PRNewswire/ -- Beacon Properties Corporation
(NYSE: BCN) today reported results for the second quarter and the first
half ended June 30, 1996.  Funds from operations (FFO) for the year-
earlier periods have been restated to reflect new guidelines introduced
this year by the National Association of Real Estate Investment Trusts
(NAREIT).
    FFO for the three months ended June 30, 1996, totaled $16.5 million
compared with a restated $8.1 million for the second quarter of 1995.
FFO per share equalled 61 cents compared with 51 cents, an increase of
19.6 percent.  The weighted average number of shares totalled 27,289,000
in the latest quarterly period and 15,844,000 a year earlier.  Revenues
amounted to $41.4 million, of which $33.1 million represented rental
income.
    For the six months ended June 30, 1996, FFO totaled $29 million
compared with a restated $14.4 million for the same period in 1995.  FFO
per share came to $1.17 versus $1.02, an increase of 14.7 percent.  The
weighted average number of shares totaled 24,682,000 in the first half
and 14,086,000 a year earlier.  Revenues amounted to $75.1 million,
including rental income of $60.1 million.
    Alan M. Leventhal, president and chief executive, stated: "Positive
economic factors in the office-using sectors of our primary markets kept
occupancy rates at high levels in the second quarter.  Our strong
performance also reflected the impact of the first complete quarterly
contribution from Perimeter Center in Atlanta which was acquired in
February and enlarged Beacon's portfolio by 50 percent.  The occupancy
rate of Perimeter Center, which was 94 percent at the time of the
purchase, was over 97 percent at the end of the second quarter."

    Highlights of the second quarter included:

    -- The announcement that Beacon and Prime Property Fund, the
       company's partner in Rowes Wharf, a 15-story downtown Boston
       waterfront complex, have acquired the remaining portion of the
       property's mortgage debt.
    -- The signing of additional leases in the redeveloped Crosby
       Corporate Center in Massachusetts, which opened in February and
       was 88 percent leased at the end of June.
    -- The announcement of a 10.1% increase in the quarterly dividend to
       46.25 cents per share, bringing the annual dividend rate to
       $1.85 per share.

    Beacon also announced today that it has revised the record date for
its quarterly dividend of 46.25 cents per share, payable August 23,
1996.  The new record date is August 14, 1996.  Beacon stock will begin
trading ex-dividend on August 12, 1996.
    Beacon Properties Corporation is a self-administered and self-
managed real estate investment trust (REIT).  One of the nation's
largest office REITs, Beacon owns or has an interest in 58 properties
totalling approximately 10 million square feet.  The company specializes
in property acquisitions, management, leasing, design, construction and
development.  In addition to its own properties, Beacon manages three
million square feet for third party institutional owners.  Further
information about Beacon is available at the company's Internet site:
http://www.beaconproperties.com.

                     BEACON PROPERTIES CORPORATION
                        STATEMENTS OF OPERATIONS
                (in thousands except per share amounts)

                                   Three Months Ended  Six Months Ended
                                   6/30/96  6/30/95   6/30/96   6/30/95
     Revenues
     Rental income                  $33,130  $17,357   $60,051  $34,093
     Management Fees                    768      472     1,517      936
     Recoveries from tenants          3,538    2,243     6,782    4,813
     Mortgage interest income         1,207      611     2,165      611
     Other income                     2,795    1,441     4,591    2,472
     Total                           41,438   22,124    75,106   42,925

     Expenses
     Property expenses                7,874    4,290    14,770    8,531
     Real estate taxes                4,313    2,457     7,831    4,901
     General and administrative       3,774    2,330     7,362    4,570
     Interest expense                 7,317    3,614    13,661    7,977
     Interest -- amortization
      of financing costs                623      296     1,184      576
     Depreciation
      and amortization                7,484    4,517    13,346    8,252
     Total                           31,385   17,504    58,154   34,807

     Income from operations          10,053    4,620    16,952    8,118
     Equity in net income
      of joint ventures and
      corporations                      582      528     1,582    1,065
     Income before minority
      interest and
      extraordinary item             10,635    5,148    18,534    9,183
     Minority interest in
      Operating Partnership         (1,453)    (997)   (2,681)  (1,951)
     Income before
      extraordinary item              9,182    4,151    15,853    7,232
     Extraordinary item, net
      of minority interest          (1,632)      ---   (3,309)      ---

     Net income                      $7,550   $4,151   $12,544   $7,232

     Income per common share
      before extraordinary item       $0.34    $0.26     $0.64    $0.51
     Extraordinary item              (0.06)      ---    (0.13)      ---
     Net income per common share      $0.28    $0.26     $0.51    $0.51

     Funds from operations before
      minority interest in
      Operating Partnership         $19,159  $10,082   $33,874  $18,267
     Company funds
      from operations               $16,540   $8,129   $28,959  $14,380
     Funds from operations
      per common share --
      new NAREIT definition           $0.61    $0.51     $1.17    $1.02
     Weighted average common
      shares outstanding             27,289   15,844    24,682   14,086
     Company share of
      Operating Partnership          86.33%   80.63%    85.49%   78.72%

     Joint venture properties:
     Depreciation
      and amortization               $1,040     $417    $1,994     $832
     Interest -- amortization
      of financing costs                224      210       448      420
     Total                           $1,264     $627    $2,442   $1,252