Boston Properties Announces 2008 Tax Treatment of Its Distributions

January 12, 2009

BOSTON, Jan. 12 /PRNewswire-FirstCall/ -- Boston Properties, Inc. (NYSE: BXP), a real estate investment trust, announced today the 2008 tax treatment of its distributions as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Boston Properties distributions.


                                                                   2008
                                                          2008     Non-
                                                          Total    taxable
                                 Total         2008     Capital    Distri-
                    Total        Distribution  Taxable   Gain      bution
     Record Payable Distribution Allocable to  Ordinary  Distri-   (Return of
     Date   Date    per share    2008          Dividends bution    Capital)

    Common Shares (CUSIP  #101121101)

    12/31/07  1/30/08 $6.660000(1) $2.875471 $1.489153 $0.000000 $1.386318
     3/31/08  4/30/08   $0.680000  $0.680000 $0.352159 $0.000000 $0.327841
     6/30/08  7/31/08   $0.680000  $0.680000 $0.352159 $0.000000 $0.327841
     9/30/08 10/31/08   $0.680000  $0.680000 $0.352159 $0.000000 $0.327841
    12/31/08  1/30/09   $0.680000  $0.000000 $0.000000 $0.000000 $0.000000



     Totals             $9.380000  $4.915471 $2.545630 $0.000000  $2.369841
                                        100%   51.7881%   0.0000%  48.2119%

    (1) Amount consists of a $5.98 per share special distribution and a $0.68
    per share regular quarterly distribution.

The common stock distribution with a record date of December 31, 2007 is a split-year dividend of which an aggregate of $2.875471 per common share is allocable to 2008. The entire common stock distribution with a record date of December 31, 2008 will be allocable to 2009 for federal income tax purposes.

Boston Properties is a fully integrated, self-administered and self-managed real estate investment trust that develops, redevelops, acquires, manages, operates and owns a property portfolio primarily comprised of Class A office space and one hotel. The Company is one of the largest owners and developers of Class A office properties in the United States, concentrated in five markets - Boston, Midtown Manhattan, Washington, D.C., San Francisco, and Princeton, N.J.

For more information about Boston Properties, please visit the Company's web site at www.bostonproperties.com.

SOURCE  Boston Properties, Inc.

    -0-                           01/12/2009
    /CONTACT:  Michael Walsh, Senior Vice President, Finance, +1-617-236-3300,
or Arthur Flashman, Vice President, Controller, +1-617-236-3300, both of
Boston Properties; or Marilynn Meek, General Information, Financial Relations
Board, +1-212-827-3773/
    /Web Site:  http://www.bostonproperties.com /
    (BXP)

CO:  Boston Properties, Inc.

ST:  Massachusetts
IN:  FIN
SU:  ACC

PR
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8188 01/12/2009 22:30 EST http://www.prnewswire.com