Piedmont Office Realty Trust, Inc. names Jeffrey L. Swope as Director

Oct 15, 2008
ATLANTA – October 15, 2008—Piedmont Office Realty Trust, Inc. today announced the appointment of Jeffrey L. Swope, 58, as an independent director of the company, increasing the board to eight members. Piedmont is a fully integrated and self-managed real estate investment trust (REIT) specializing in the acquisition, ownership, management and development of primarily high-quality, Class-A office buildings located in major U.S. markets and leased primarily to high-credit quality tenants. Major markets include: Washington, D.C., greater Los Angeles, the New York metropolitan area, Boston and Chicago.

"We are very pleased about the addition of Jeff to our Board. He has a distinguished track record as a nationwide developer, which is a complement to the backgrounds of our existing directors and will prove useful as we continue to implement our business strategies," said Wayne Woody, Chairman of Piedmont. "We look forward to benefiting from his experience and leadership, especially during these tumultuous economic times."

Mr. Swope was responsible for the acquisition, financing, leasing and asset management of over 50 million square feet of office, industrial, and retail space with an aggregate value exceeding $3.0 billion during his 35-year career in the commercial real estate industry. He began his career at Trammell Crow Company in 1973 and became a partner in the firm in 1977. In 1980, he was one of the co-founders of Centre Development Co., Inc., and served as partner-in-charge of industrial and land development. In 1991, Mr. Swope formed Champion Partners Ltd., where, as Chief Executive Officer, he led the growth of the firm to its status as a nationwide developer and investor of office, industrial and retail properties. His professional accomplishments have included being the Founding Chairman of the Real Estate Council, President of the North Texas Chapter of the National Association of Industrial and Office Properties, Founding Chairman of the Real Estate and Finance Center at The University of Texas at Austin, and Trustee of the Urban Land Institute. Mr. Swope has been recognized as a Hall of Fame Member of the Dallas Board of Realtors. He also serves on the University of Texas at Austin Business School Advisory Board and as a Trustee of the Business School Foundation at the University. Mr. Swope graduated with both a Bachelor’s and a Master’s degree in Business Administration from The University of Texas.

Commenting on his appointment, Mr. Swope said, "I’m looking forward to joining the Piedmont team and to helping address the many challenges that all leadership teams across the world are facing during these unprecedented economic times. Piedmont’s financial strength and strong balance sheet should serve it well as we navigate the days ahead."

Piedmont is a public, non-traded REIT specializing in Class-A office properties. As of June 30, Piedmont owned 84 buildings, totaling more than 21 million square feet, in 23 states and Washington, D.C. Properties include the corporate headquarters of such organizations as U.S. Bancorp, NASA and Nestlé USA. Across the portfolio, Piedmont properties are approximately 93 percent leased. For more information, see www.piedmontreit.com.
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