Corvex, Related Respond to CommonWealth REIT: Committed to Moving Forward with Solicitation, Looking to Remove Entire Board

Corvex Management LP ("Corvex") and Related Fund Management, LLC ("Related") today issued the following statement in response to the misleading and inaccurate press release issued by CommonWealth REIT

this morning: "It is disgraceful that CWH would unilaterally attempt to take away a right shareholders have had since 1986 solely in an effort to further entrench its underperforming leadership team.  This latest effort is in our and our lawyers' view completely invalid under Maryland law, and is further evidence of the ongoing efforts by the Portnoy family to disenfranchise shareholders.  We look forward to moving ahead with the consent solicitation which will serve as a referendum on the current trustees and management team, and in light of this morning's announcement we will proceed with a record date of April 22, 2013. We firmly believe that removal of the entire board by written consent is the only means available to shareholders to immediately put a stop to any further value destruction by CWH's management and trustees."   Corvex and Related filed a definitive consent solicitation statement with the U.S. Securities and Exchange Commission on April 10, 2013 for shareholders to act by written consent to effect the removal of the entire board of trustees of CWH.  CWH's charter expressly permits holders of two-thirds of the outstanding shares to remove trustees without cause by written consent.