CommonWealth REIT Issues Response to Corvex, Related Fund Mgmt

CommonWealth REIT (NYSE: CWH) (“CommonWealth” or “the Company”) today issuedthe following statement in response to the press release issued on April 9,2013 by Corvex Management LP and Related Fund Management, LLC (together, “theCorvex/Related Group”):As a Maryland real estate investment trust, we appreciate the MarylandLegislature's recent consideration of a technical amendment to clarify theState's Unsolicited Takeover Act. We believe it would have been most efficientfor the Maryland Legislature, rather than the Courts, to clarify the intent ofthe law. We are confident that CommonWealth would be protected by the 1999Maryland Antitakeover Law, if the CommonWealth Board of Trustees chooses toopt-in; however, consistent with its fiduciary duty, the Board continues toevaluate its options.At CommonWealth, we remain focused on successfully executing on our businessplan to enhance value for all CommonWealth shareholders. Specifically,CommonWealth is positioning itself to best capitalize on a rebound in theoffice building real estate market by realigning the portfolio more towardslarge Class A office properties in urban or CBD, locations and away fromsuburban office and industrial properties; enhancing CommonWealth's financialstrength by taking actions to pay down indebtedness.As previously announced, the CommonWealth Board of Trustees, in collaborationwith its advisors, continues to review both the Corvex/Related Group's consentsolicitation and the proposals and demands outlined in its March 28, 2013letter. Consistent with its fiduciary duties, the CommonWealth Board ofTrustees will pursue the course of action that it believes is in the bestinterests of CommonWealth and its shareholders.The CommonWealth Board notes that, despite having more than one month tosecure and obtain debt or equity financing to fund their purported offer fromFebruary 27, 2013, the Corvex/Related Group does not appear to have done soprior to making its latest purported offer. The CommonWealth Board also notesthat it is not surprised by the Corvex/Related Group's statements given theircontinued efforts to seize control of the Company through their purportedoffer of $24.50 per share, which is significantly lower than the approximately$40 to $55 per share value they placed on CommonWealth as of February 25,2013. Lastly, the Board believes that removal of the entire CommonWealth Boardof Trustees would disrupt the continued successful execution of Commonwealth'sstrategic plan and only advance the interests of the Corvex/Related Group atthe expense of all CommonWealth shareholders.