DCT Industrial Trust® Announces Pricing of Public Offering of Common Stock

DENVER, Feb. 15, 2011 /PRNewswire/ -- DCT Industrial Trust Inc. ® (NYSE: DCT), a leading industrial real estate company, announced today that it priced a public offering of 19,000,000 shares of common stock at a price per share of $5.35.  In addition, the Company has granted to the underwriters for the public offering an option for 30 days to purchase up to 2,850,000 additional shares of common stock to cover overallotments, if any.  BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities acted as the joint book-running managers for the offering. Subject to customary closing conditions, the offering is expected to close on or about February 18, 2011.

The estimated net proceeds to the Company from the offering, before giving effect to any exercise of the underwriters' overallotment option, are expected to be approximately $96.7 million.  The Company intends to use up to $95 million of net proceeds received from this offering to repay amounts outstanding under its senior unsecured revolving credit facility and the remaining net proceeds for general corporate purposes, including for future acquisitions.

The offering was made pursuant to a prospectus supplement to the Company's prospectus, dated March 23, 2010, filed as part of the Company's effective shelf registration statement relating to these securities. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the prospectus supplement and accompanying prospectus relating to these securities, when available, may be obtained from:

BofA Merrill Lynch, Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080 or by email at [email protected];

J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone 1-866-803-9204; or

Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, at 1-800-326-5897 or by email at [email protected].

About DCT Industrial Trust

DCT Industrial Trust is a leading industrial real estate company that owns, operates and develops high-quality bulk distribution and light industrial properties in high-volume distribution markets in the U.S. and Mexico. As of December 31, 2010, the Company owned, managed or had under development 76.3 million square feet of assets leased to more than 840 customers, including 14.6 million square feet managed on behalf of three institutional joint venture partners.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Federal securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and could materially affect actual results, performance or achievements. These factors include, without limitation, that the closing of the aforementioned offering is subject to, among other things standard closing conditions and customary rights of the underwriters to terminate the purchase agreement due to any material adverse change in the financial markets in the United States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions, and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.

SOURCE DCT Industrial Trust Inc.