Lexington Realty Trust and Transamerica Life Insurance Company Announce 140,526 SF Lease at 100 Light Street

BALTIMORE and NEW YORK, Sept. 27 /PRNewswire/ -- Transamerica Life Insurance Company, an AEGON company, is relocating its Baltimore operations and taking 140,526 net rentable square feet at 100 Light Street, the 35-story city skyscraper which will be known as the Transamerica Tower. The building is owned by a wholly-owned subsidiary of Lexington Realty Trust (NYSE: LXP), a real estate investment trust focused on single-tenant real estate investments.

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The lease commences no later than November 1, 2011 and continues for a term of 10 years and three months, subject to two five-year tenant renewal options. Transamerica has the option to decrease or increase the amount of leased square feet by two floors, or 31,228 square feet, prior to approval of its space plans. Assuming no adjustment in the square feet subject to the Transamerica lease, the building is expected to be approximately 72 percent leased.

T. Wilson Eglin, Chief Executive Officer of Lexington, remarked "The addition of Transamerica as a tenant and the renaming of 100 Light Street as the Transamerica Tower successfully culminates our efforts to reposition the building as the premier Class A office property in Downtown Baltimore. We are extremely pleased to have procured another marquee tenant and increased leased space from approximately 26 percent to approximately 72 percent in the last 12 months."

Since it acquired its interest in the building on December 31, 2006, Lexington Realty Trust has enhanced the Transamerica Tower by adding a new parking garage across the street, conference center, cafeteria and fitness center and redesigning the plaza and lobby.

"We are pleased to renew our long standing presence in the downtown area in an iconic building, which will now be known as the Transamerica Tower. We look forward to bringing our over 700 employees in Baltimore under one roof," said Mark Mullin, President and CEO of AEGON USA, LLC.

"This is tremendous news for the State of Maryland and for the City of Baltimore. Transamerica Life Insurance Company's decision to keep their business in Baltimore's downtown will help boost Maryland and Baltimore City's economy," said Maryland Governor Martin O'Malley. "As we come through these tough economic times stronger and more quickly than other states, we continue to work together to create and save jobs, and improve the conditions under which businesses, large and small, can create and save jobs."

"I am very pleased to see another strong corporate name with global recognition added to Baltimore's beautiful downtown skyline at 100 Light Street," said Baltimore Mayor Stephanie Rawlings-Blake. "Just like the iconic Pyramid in San Francisco, Baltimore's Transamerica Tower will be a prominent downtown landmark and a proud symbol of our City's strength as a thriving corporate center that is open for business."

"We are delighted and excited that, with the help of Lexington, one of the nation's largest insurance companies has decided to locate its future home in downtown Baltimore," said Baltimore Development Corporation President M.J. "Jay" Brodie. "This decision inspires confidence in our city's ability to retain and attract major companies."

David Gillece and David Downey of Cassidy Turley represented Transamerica. Matt Seward and John Schulze of Cassidy Turley represented Lexington Realty Trust.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington shares are traded on the New York Stock Exchange under the symbol "LXP". Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.

ABOUT TRANSAMERICA

The Transamerica companies market an array of life insurance, annuities, retirement solutions and investments designed to help individuals, families, and businesses build, protect and preserve their assets. The Transamerica Life & Protection Division includes the formerly named AEGON Direct Marketing Services, Inc., and Monumental Division based in Baltimore.

Transamerica Life Insurance Company is an AEGON company. In the U.S., Transamerica is the AEGON companies lead retail brand.

AEGON is an international life insurance pension and investment organization based in The Hague, The Netherlands. AEGON companies have businesses in over twenty markets in the Americas, Europe and Asia and employ approximately 28,000 people and have over 40 million customers across the globe. www.aegon.com

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington's periodic filings with the Securities and Exchange Commission. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.

SOURCE Lexington Realty Trust