Lexington Corporate Properties Trust Increases Dividend

First Quarter Results Will Be Announced on April 25, 2001



Annual Meeting of Shareholders Scheduled for May 23, 2001



Apr 16, 2001, 01:00 ET from Lexington Corporate Properties Trust

    NEW YORK, April 16 /PRNewswire/ -- Lexington Corporate Properties Trust
 (NYSE:   LXP) ("Lexington"), a real estate investment trust, today announced
 that its Board of Trustees has declared a dividend of $0.32 per common share
 payable May 15, 2001 to Shareholders of record as of April 30, 2001.  This
 represents a $0.01 per share increase over the prior quarterly dividend and is
 Lexington's fifth dividend increase in the last five years.  Lexington intends
 to continue paying a dividend at the new annual rate of $1.28 per share.
     T. Wilson Eglin, Lexington's President and Chief Operating Officer, said,
 "This dividend increase reflects strong operating results, our confidence in
 future profitability and growth in cash available for dividends resulting from
 scheduled rental increases, enhanced returns on equity from our capital
 recycling program and share repurchase plan and our initiatives in the asset
 management and advisory business.  Furthermore, our recently announced
 financings have created liquidity and balance sheet flexibility that would
 allow us to exceed our previously announced investment targets for 2001."
 
     First Quarter Results
     Lexington will announce its quarterly results before the market opens on
 Wednesday, April 25, 2001 and Management will discuss the financial results
 and Lexington's business plan on a conference call at 2 p.m. Eastern time.
 The toll-free dial in number is 877-282-0743.  A replay of the conference call
 will be available through May 2, 2001.  The toll-free telephone number for the
 replay is 888-266-2086, passcode 5105747.  The conference call can also be
 accessed on the internet at www.lxp.com or www.streetevents.com .
 
     Annual Meeting
     Lexington's Annual Meeting of Shareholders has been scheduled for 10 a.m.
 on May 23, 2001 at the Chase Conference Center, 270 Park Avenue, New York,
 New York.
 
     About Lexington
     Lexington Corporate Properties Trust is a real estate investment trust
 that owns and manages office, industrial and retail properties net-leased to
 major corporations throughout the United States.  Lexington common shares
 closed April 16, 2001 at $13.05 per share.   Lexington Realty Advisors, Inc.,
 an affiliate of Lexington, provides investment advisory and asset management
 services to investors in the net lease area.  Lexington pays an annualized
 dividend of $1.28 per share and has approximately 25.1 million convertible
 preferred shares, common shares and convertible operating partnership units
 outstanding.  Additional information about Lexington is available at
 www.lxp.com .
 
 

SOURCE Lexington Corporate Properties Trust
    NEW YORK, April 16 /PRNewswire/ -- Lexington Corporate Properties Trust
 (NYSE:   LXP) ("Lexington"), a real estate investment trust, today announced
 that its Board of Trustees has declared a dividend of $0.32 per common share
 payable May 15, 2001 to Shareholders of record as of April 30, 2001.  This
 represents a $0.01 per share increase over the prior quarterly dividend and is
 Lexington's fifth dividend increase in the last five years.  Lexington intends
 to continue paying a dividend at the new annual rate of $1.28 per share.
     T. Wilson Eglin, Lexington's President and Chief Operating Officer, said,
 "This dividend increase reflects strong operating results, our confidence in
 future profitability and growth in cash available for dividends resulting from
 scheduled rental increases, enhanced returns on equity from our capital
 recycling program and share repurchase plan and our initiatives in the asset
 management and advisory business.  Furthermore, our recently announced
 financings have created liquidity and balance sheet flexibility that would
 allow us to exceed our previously announced investment targets for 2001."
 
     First Quarter Results
     Lexington will announce its quarterly results before the market opens on
 Wednesday, April 25, 2001 and Management will discuss the financial results
 and Lexington's business plan on a conference call at 2 p.m. Eastern time.
 The toll-free dial in number is 877-282-0743.  A replay of the conference call
 will be available through May 2, 2001.  The toll-free telephone number for the
 replay is 888-266-2086, passcode 5105747.  The conference call can also be
 accessed on the internet at www.lxp.com or www.streetevents.com .
 
     Annual Meeting
     Lexington's Annual Meeting of Shareholders has been scheduled for 10 a.m.
 on May 23, 2001 at the Chase Conference Center, 270 Park Avenue, New York,
 New York.
 
     About Lexington
     Lexington Corporate Properties Trust is a real estate investment trust
 that owns and manages office, industrial and retail properties net-leased to
 major corporations throughout the United States.  Lexington common shares
 closed April 16, 2001 at $13.05 per share.   Lexington Realty Advisors, Inc.,
 an affiliate of Lexington, provides investment advisory and asset management
 services to investors in the net lease area.  Lexington pays an annualized
 dividend of $1.28 per share and has approximately 25.1 million convertible
 preferred shares, common shares and convertible operating partnership units
 outstanding.  Additional information about Lexington is available at
 www.lxp.com .
 
 SOURCE  Lexington Corporate Properties Trust