Kilroy Realty Corporation to Redeem All Outstanding Shares of 7.80% Series E and 7.50% Series F Cumulative Redeemable Preferred Stock

Kilroy Realty Corporation (NYSE: KRC) today announced that it intends to redeem all of its 1,610,000 outstanding shares of 7.80% Series E Cumulative Redeemable Preferred Stock (NYSE:KRC-PRE) and all of its 3,450,000 outstanding shares of 7.50% Series F Cumulative Redeemable Preferred Stock (NYSE:KRC-PRF). The shares of Series E Preferred Stock and Series F Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus accumulated and unpaid dividends up to and including the redemption date of April 16, 2012, and dividends on the shares of Series E Preferred Stock and Series F Preferred Stock will cease to accrue on such date. On or after April 16, 2012, the only remaining rights of the holders of shares of Series E Preferred Stock and Series F Preferred Stock will be to receive payment of the redemption price, plus accumulated and unpaid dividends up to and including the redemption date. The Notice of Redemption and related materials will be mailed to holders of shares of Series E Preferred Stock and the Series F Preferred Stock on or around March 15, 2012. As specified in the Notice of Redemption, payment of the redemption price will be made only upon presentation and surrender of the certificates representing the shares of Series E Preferred Stock and Series F Preferred Stock during normal business hours at one of the following locations of the redemption agent, Computer Shareholder Services LLC. If delivered by mail, certificates should be sent to BNY Mellon Shareowner Services, Attn: Corporate Action Dept., P.O. Box 3300, South Hackensack, NJ 07606-1900 and if delivered by overnight courier or by hand, to BNY Mellon Shareowner Services, Attn: Corporate Action Dept., 480 Washington Blvd., 27th Floor, Jersey City. NJ 07310. Questions relating to the Notice of Redemption and related materials should be directed to Computer Shareholder Services LLC, telephone number (800) 777-3674.