BOSTON, Jan. 2 /PRNewswire/ -- Beacon Properties Corporation (NYSE: BCN)
announced today that it has sold its wholly-owned subsidiary, Beacon
Construction Company, to Skanska of Sweden.  The sale price was not disclosed.
Skanska is one of the world's largest construction organizations, with over
35,000 employees and 1996 revenues of $7.5 billion.
    Alan M. Leventhal, president and chief executive officer, stated: "We
arranged the sale of Beacon Construction because general construction work is
no longer integral to our business as a real estate investment trust (REIT).
However, we have retained our property development capabilities.  Beacon
Construction is our original predecessor company, founded in 1946, and we are
very pleased that the company has become a member of Skanska, an organization
with an excellent reputation."
    Leventhal added: "The sale of Beacon Construction will have no significant
impact on revenues or funds from operations (FFO) of Beacon Properties."
    As part of its ongoing development program, Beacon Properties recently
purchased 29 acres adjacent to the company's 336,000 square foot Crosby
Corporate Center in Bedford, Massachusetts.  Beacon's Development Group is
finalizing the planning stage for three new buildings which would bring the
total number of buildings at Crosby Corporate Center to nine.  In addition,
the Group recently completed the development and expansion of 100 William
Street, Wellesley Office Park, Wellesley, Massachusetts.
    Beacon Construction, under the new name Beacon Skanska Construction
Company, is joining New York City-based Barney Construction as a member of
Skanska's Northeast building construction group, which is led by Sordoni
Skanska Construction Company, Inc., Parsippany, New Jersey.  James M. Becker,
president of Beacon Construction, has been appointed president of Beacon
Skanska.
    Beacon Properties Corporation is a self-administered and self-managed real
estate investment trust (REIT).  One of the nation's largest office REIT's,
Beacon currently owns or has an interest in 100 properties totaling
approximately 14.9 million square feet.  Further information is available at
the company's Internet site: http://www.beaconproperties.com.
    Certain matters discussed in this press release may constitute 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 reasonable 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 upon 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.

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