<PAGE>
EXHIBIT 99
NEWS RELEASE
[WRIT Logo] Washington Real Estate Investment Trust
<TABLE>
<CAPTION>
<S> <C> <C>
CONTACT: 6110 Executive Boulevard Listed: NYSE
Larry E. Finger Suite 800 Trading Symbol: WRE
Senior V.P. - C.F.O. Rockville, Maryland 20852 Newspaper Quote: WRIT
Direct Dial: (301) 255-0820 Tel 301-984-9400 www.writ.com
E-Mail: [email protected] Fax 301-984-9610
</TABLE>
FOR IMMEDIATE RELEASE August 22, 2000
WRIT SELLS CLAIRMONT SHOPPING CENTER
Washington Real Estate Investment Trust (WRIT) announced today that it has sold
the Clairmont Shopping Center in Salisbury, Maryland for $3.0 million, resulting
in a gain of approximately $1.6 million. The purchaser was a local developer
who owns commercial properties in the Eastern Maryland and Southern Delaware
areas.
Built in 1965, the one-story neighborhood center contains approximately 39,000
square feet of retail space and had been in the WRIT portfolio since 1976.
Edmund B. Cronin, Jr., WRIT's CEO, said that, "This sale is pursuant to our
strategic plan to dispose of properties which do not fit our long-term
objectives and are not located in the Washington-Baltimore Region. We are very
pleased with the gain on this transaction and anticipate investing the proceeds
in property with greater long-term investment potential. Commencing in 1998,
this plan has resulted in the sale of eight properties for a total of $39.6
million, yielding a total gain of $18.2 million."
WRIT will utilize the proceeds of this sale in a tax-deferred exchange whereby
WRIT re-invests the sales proceeds on a tax-free basis in another real estate
property.
WRIT is a self-administered, self-managed, equity real estate investment trust
investing in income-producing properties in the greater Washington-Baltimore
region. The Trust owns a diversified portfolio of 56 properties consisting of
10 neighborhood retail centers, 22 office buildings, 15 industrial distribution
properties and 9 apartment properties. WRIT shares are publicly traded on the
New York Stock Exchange (symbol: WRE).
Certain statements in this press release are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
statements involve known and unknown risks, uncertainties and other factors that
may cause actual results to differ materially. Such risks, uncertainties and
other factors include, but are not limited to, the inability to agree to terms
on acceptable real estate property for reinvestment of the proceeds of this
sale, fluctuations in interest rates, availability of raw materials and labor
costs, levels of competition, the effect of government regulation, the
availability of capital, weather conditions and changes in general and local
economic conditions.
END
