BOSTON, Oct. 31 /PRNewswire/ -- Results for the third quarter and the
first nine months ended September 30, 1996, were announced today by Beacon
Properties Corporation (NYSE: BCN).  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 September 30, 1996, totaled $18.7 million
compared with a restated $9.1 million for the third quarter of 1995.  FFO per
share equalled 61 cents compared with 51 cents, an increase of 19.6 percent.
Revenues amounted to $46.6 million, including rental income of $37.3 million,
versus $23.6 million, including rental income of $18.2 million, a year
earlier.  The weighted average number of shares totaled 30,572,000 in the
latest quarterly period and 17,656,000 a year earlier.
     For the nine month period ended September 30, 1996, FFO totaled $47.7
million compared with a restated $23.4 million in the first nine months of
1995.  FFO per share came to $1.78 versus $1.53, an increase of 16.3 percent.
Revenues amounted to $121.7 million compared with $66.5 million in 1995, and
included rental income of $97.3 million and $52.3 million respectively.  The
weighted average number of shares totaled 26,660,000 in the first nine months
of 1996 and 15,289,000 a year earlier.
    Third quarter highlights included:

    -- Completing Beacon's second public offering this year -- an issue of
5,750,000 shares of common stock priced at $25.75 per share that yielded
approximately $139 million in net proceeds.  Based on the closing stock price
as of Septembegating approximately 1.55 million
square feet, in Fairfax County, Virginia, Washington, D.C. and suburban
Chicago, Illinois, for about $227 million.

    Alan M. Leventhal, president and chief executive officer, commented:
"Strong demand for office space continued in our markets during the third
quarter, and we increased the occupancy rate of Beacon's total portfolio to 96
percent as our volume of new leases and renewals responded to these positive
market conditions.  Ten office properties were acquired during the quarter,
and two more early in the fourth quarter, as we continued our national
strategy to create a strong presence in selected target markets.  Currently,
these include Atlanta, Boston, Chicago and Washington D.C. So far this year,
we have acquired 44 office buildings for nearly $700 million, increasing our
portfolio by 82 per cent to 12.2 million square feet."
    Beacon Properties Corporation is a self-administered and self-managed real
estate investment trust (REIT).  One of the nation's largest office REITs,
Beacon currently owns or has an interest in 70 properties totaling
approximately 12.2 million square feet.  The company specializes in property
acquisitions, management, leasing, design, construction and development.
Further information is available at the company's Internet site:
http://www.beaconproperties.com.
    Certain matters discussed in this press release are forward-looking
statements within the meaning of the Federal securities law.  Although Beacon
believes that the expectations reflected in such forward-looking statements
are based upon assumptions, it can give no assurance that its expectations
will be achieved.  Factors that could cause actual results to differ
materially from Beacon's current expectations include general economic
conditions, local real estate conditions, timely releasing of occupied square
footage expiration, interest rates, availability of equity and debt financing
and other risks detailed from time to time in the company's filings with the
Securities and Exchange Commission, including quarterly reports on Form 10-Q,
reports on Form 8-K and annual reports on Form 10-K.

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

                                          Three Months Ended Nine Months Ended
                                            9/30/96  9/30/95  9/30/96  9/30/95
     Revenues
      Rental income                       $37,257  $18,188   $97,308 $52,281
      Management Fees                         731      477     2,248   1,413
      Recoveries from tenants               4,219    2,484    11,001   7,297
      Mortgage interest income              1,402      953     3,567   1,564
      Other income                          2,993    1,493     7,585   3,965

                                           46,602   23,595   121,709  66,520
     Expenses
      Property expenses                     9,837    4,938    24,607  13,469
      Real estate taxes                     4,660    2,513    12,491   7,414
      General and administrative            4,600    2,316    11,963   6,886
      Interest expense                      7,077    3,592    20,739  11,569
      Interest -- amortization of
       financing costs                        434      371     1,618     947
      Depreciation and amortization         8,391    4,355    21,737  12,607

                                           34,999   18,085    93,155  52,892

     Income from operations                11,603    5,510    28,554   3,628

     Equity in net income of joint
      ventures and corporations               471      670     2,053   1,735

     Income before minority interest and
      extraordinary item                   12,074    6,180    30,607  15,363

     Minority interest in Operating
      Partnership                         (1,550)  (1,092)   (4,231) (3,043)

     Income before extraordinary item      10,524    5,088    26,376  12,320

     Extraordinary item, net of minority
     interest                                 ---      ---   (3,309)     ---

     Net income                           $10,524   $5,088   $23,067 $12,320
     Income per common share before
      extraordinary item                    $0.34    $0.29     $0.99   $0.81
     Extraordinary item                        --       --    (0.13)     ---
     Net income per common share            $0.34    $0.29     $0.86   $O.81

     Funds from operations before
      minority interest in Operating
     Partnership                          $21,470  $11,017   $55,343 $29,284

     Company funds from operations        $18,713   $9,070   $47,661 $23,448
     Funds from operations per common
      share -- new NAREIT definition        $0.61    $0.51     $1.78   $1.53

     Weighted average common shares
      outstanding                          30,572   17,656    26,660  15,289

     Company share of Operating
      Partnership                          87.16%   82.33%    86.12%  80.07%

     Joint venture properties:
      Depreciation and amortization        $1,005     $482    $2,999  $1,314
      Interest -- amortization of
       financing costs                        225      210       673     630
                                           $1,230     $692    $3,672  &1,944

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